When Will Women Outnumber Men in Tech Funding?

The time has changed but the question is still the same can women outnumber men in tech

Indian startups with women founders control to get the handiest 1.5% of the overall investment, a senior Google govt told ET. Google is, however, seeking to plug this hole with the inaugural batch of Google for Startups Accelerator – India Women Founders program, stated Aditya Swamy, Director of Google Play Partnerships. The 3-month startup program will accept up to 20 women-based or co-based startups in India. Swamy stated that the startup’s surroundings were booming however there was a stark contrast in the quantity of funding that startups led by women received. “And if we segment that more and consider startup companies in which only women are main founders – in which they have no male founder at all – that number is near 1.5% in India.” India is the world’s third biggest startup companies capital, trailing only the US and China. 

“In the present day, from a GDP factor of view, the digital economy is set 10% of India’s GDP,” stated the renowned Swamy. “If we assume about the 1 trillion dollars virtual financial system objective, the digital financial system goes to be 25% of the GDP. So, India’s economic growth goes to be powered through digital businesses, and startups will shape a big part of that,” he introduced. India boasts of over 100 unicorns, with 22 introduced to the listing this year alone. 

However, only 15% of those unicorns – or those with valuations of $1 billion or greater – have one or greater girl’s founders. Google’s program will focus on regions like access to networks, access to capital, hiring challenges, mentorship, and others which, for social motives and coffee representation, show tough for female founders. “If we consider digital solutions, truly fixing for society, today’s society is 50% girls,” Swamy stated. “And I strongly believe that if we’ve got startup companies which might be based through strong women, and product those who are thinking about fixing truly for all parts of the general public, then having a vibrant women startup ecosystem is a great manner to consider how we can truly remedy troubles at scale.” 

This program is a part of a bigger effort through Google closer to improve the representation of women throughout special sections of India’s digitally-skilled workforce – be it entrepreneurship, professionals seeking to upskill, or younger graduates seeking a head beginning in their careers. In the early years of the startup accelerator program, round 2016-17, of the overall applicant pool there might be handiest approximately 8-10% who might be girls founders, however, that wide variety has now risen to 34-36% with inside the last 3 cohorts that Google has organized, stated Paul Ravindranath G, program manager, developer relations and head of Google Accelerator at Google India. 

This has been powered by some precise initiatives to find out women founders in startup companies. “However, due to the pandemic, we do see a massive chunk falling throughout about 6 sectors mainly healthcare, edtech, media, fintech, and entertainment, SaaS agencies and gaming is also a place in which we see loads of most up-to-date applicants.”

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