The Influence of Women Entrepreneurs on Social Impact Startups

 


Source: The Economic Times 

Authored by - Prapti Jain

Abstract 

This research explores the pivotal role of women entrepreneurs in shaping the landscape of social impact startups. We investigate the influence of women-led initiatives on the social impact sector, addressing the research question: How do women entrepreneurs contribute to the success and sustainability of social impact startups? Employing a mixed-methods approach, combining qualitative interviews and quantitative data analysis, we delve into the dynamics of this intersection, examining the unique perspectives and strategies employed by women entrepreneurs in fostering social change through startups.

Introduction 

The increasing prominence of social impact startups highlights the need to understand the specific contributions of women entrepreneurs in this domain. This article aims to provide a comprehensive exploration of the influence wielded by women entrepreneurs in driving social change through entrepreneurial endeavours. By examining the background of the topic and elucidating its significance, we set the stage for a nuanced investigation into the unique impact of women in the realm of social entrepreneurship. The business world is no longer a male-dominated arena. Women have become a significant force in entrepreneurship and are redefining the landscape. It’s interesting to note that on a global level, more and more businesses led by women are thriving and outpacing than those run by men. 

On a global scale, women-led businesses hold undeniable sway over the economy. Entrepreneurship gender parity could potentially unlock economic contributions of up to $12 trillion to the global GDP by 2025. The figures underscore the staggering economic potential that women entrepreneurs carry within them.

In a world where many assumed women entrepreneurs were struggling, a new revelation has emerged: they are thriving and succeeding beyond expectations. The companies with women occupying high-level management roles enjoyed an impressive 15% boost in their overall profits. This means that women entrepreneurs are truly making significant progress in their businesses.

The Influence of Women Entrepreneurship on the Society 

1. Diverse Perspectives for Innovative Solutions:

Women entrepreneurs often bring diverse perspectives and experiences, leading to the development of innovative solutions to societal challenges. Their unique insights contribute to the creation of businesses that address not only profitability but also social and environmental concerns.

2. Socially Conscious Leadership

Research has shown that women leaders tend to prioritize social responsibility and ethical practices. In the realm of social impact startups, this commitment to ethical leadership translates into businesses that actively contribute to positive social change, fostering a sense of responsibility towards the community and the environment.

3. Community-Centric Approaches

Women entrepreneurs frequently exhibit a strong inclination towards community-centric approaches. This manifests in the development of businesses deeply rooted in the needs of the communities they serve. Social impact startups led by women are often more attuned to the specific needs of diverse groups, ensuring inclusivity in their initiatives.

4. Fostering Inclusivity and Diversity

Women entrepreneurs are catalysts for promoting inclusivity and diversity within their organizations. This commitment to diversity translates into social impact startups that prioritize equal opportunities and representation, creating a more inclusive environment for employees and stakeholders alike.

5. Collaborative Networking and Support

Women entrepreneurs are known for building strong networks and providing support to fellow entrepreneurs. This collaborative spirit enhances the success and impact of social startups, as these networks become hubs for sharing ideas, resources, and mentorship, fostering a supportive ecosystem.

6. Balancing Profitability and Purpose

Women-led social impact startups often strike a balance between profitability and purpose. While financial sustainability is crucial for any business, women entrepreneurs are more likely to emphasize the importance of a business model that aligns with social and environmental goals, ensuring long-term positive impact.


Some examples of social startups by women entrepreneurs

To amplify these powerful voices who have proved their mettle and also inspired many across the globe, Startup India launched SuperStree: Women in the Startup Ecosystem. The Video Podcast Series is focused on extraordinary female entrepreneurs and women in business. Each episode of the podcast series showcases an influential businesswoman and her inspirational story of what led her to take charge in the entrepreneurial world. For SuperStree by Startup India, they have interviewed ten women entrepreneurs to seek inspiration and nuggets of actionable advice for other women entrepreneurs and startups in general.

Creating Ladders of Success by Neha Singh, Co-Founder and CEO of Tracxn

Neha Singh, Co-Founder and CEO of Tracxn, discusses her entrepreneurial journey and explains what it takes to create ladders of success. She talks about her business, investment strategies, STEM education for women and what it takes to lead a startup that is making waves globally. Neha Singh was also recognised among the ‘Most Powerful Women’ as part of the ‘Rising Stars’ category in 2019 by Business Today.

Setting Goals by Naiyya Saggi, Co-Founder of The Good Glamm Group

Naiyya Saggi, Co-Founder of the Good Glamm Group, unveils her mantra behind creating a Unicorn startup. She is among the most versatile women entrepreneurs who paved the way for budding entrepreneurs and upcoming Unicorns. Good Glamm Group is helping D2C brands to expand their consumer bases by engaging with communities across India.

Confidence is the Key by Sairee Chahal, CEO and Founder of SHEROES

Sairee Chahal, Founder and CEO of SHEROES, is an influential business entrepreneur with a vision of creating a safe and inclusive community for women. Her startup is recognised as one of the top ten social impact startups in India by Economic Times.  

Empowering Founders by Sucharita Eashwar, Founder & CEO, Catalyst for Women Entrepreneurship

Sucharita Eashwar is another noteworthy entrepreneur started her startup with a vision to empower other women in the business. Before starting her venture, she realised that financial autonomy is essential for women's empowerment; hence Catalyst for Women Entrepreneurship was born. 

Turning Table by Ahana Gautam, CEO and Co-Founder of Open Secret

From breaking stereotypes to building a healthy snacking brand, Ahana Gautam is another inspiration who unveils how difficult it was to start her brand being a mother to a newborn. Ahana Gautam is a graduate of Harvard Business School and hails from a small city in Rajasthan. She is one of the leading entrepreneurs in the snacking industry.

Catalysing Women’s Power and Influence by Ankita Vashishtha, Founder & General Partner of StrongHer Ventures & Saha Funds

Did you know SAHA Funds is India’s first women’s venture capital fund? With her startup’s vision, Ankita Vashishtha is another businesswoman who is supporting other business entrepreneurs by investing in their startups that are either founded by women or cater to female consumers.

Finding Solutions by Neha Arora, Founder of Planet Abled

Through Planet Abled, Neha Arora devised an idea to make travelling easy for specially-abled people. From creating travel solutions for specially-abled people to establishing a successful business, Neha Arora has reshaped the travel landscape. 

Rooting Culture and Urbanising Minds by Ajaita Shah, Founder & CEO of Frontier Markets

Ajaita Shah, Founder and CEO of Frontier Markets, who is the woman entrepreneur behind establishing India’s first woman-led unicorn catering to rural markets. In the episode, she discusses establishing India’s first women-led Unicorn that caters to rural markets. Through her startup, she is working towards bringing equality of resources between rural and urban areas.

Acknowledging True Grit by Padmaja Ruparel, Co-Founder of Indian Angel Network and Founding Partner of IAN Fund


Padmaja Ruparel talks about building an investment-centric startup and the importance of investment in a startup. Padmaja, through her startup, is generating employment opportunities, driving economic growth and contributing to the development of new startups.

Conclusion 

These are the most significant voices from the community of businesswomen who broke societal barriers and made their name in the highly competitive business world. Through this these women are making the social impact in the society. As women entrepreneurs continue to carve their path in the entrepreneurial landscape, their influence on social impact startups is unmistakable. From fostering diversity and inclusivity to championing socially conscious leadership, women entrepreneurs are key drivers of positive change. The future of social entrepreneurship is undoubtedly brighter with the inclusion of diverse perspectives and the unwavering commitment of women entrepreneurs to create a meaningful impact on society.

_____________________________________________________________________________

References

Women entrepreneurs lead the charge, shattering boundaries and achieving unprecedented growth - https://timesofindia.indiatimes.com/blogs/voices/women-entrepreneurs-lead-the-charge-shattering-boundaries-and-achieving-unprecedented-growth/

SuperStree: Women in the Startup Ecosystem -

https://www.startupindia.gov.in/content/sih/en/bloglist/blogs/superstree.html#:

~:text=Sairee%20Chahal%2C%20Founder%20and%20CEO,in%20India%20by%20Economic%20Times.





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