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She Leads: Empowering Women in Entrepreneurial Ecosystem Through Mentorship
Posted on November 22, 2023 by Editor
In the evolving landscape of Indian entrepreneurship, the emergence of women as business leaders has been nothing short of transformative. Yet, the journey to the top is fraught with challenges for women. This is where the power of mentorship shines through, acting as a beacon for aspiring entrepreneurs. The importance of a supportive community and mentorship is felt across India’s entrepreneurial ecosystem. The “Women & Entrepreneurship In India” study underscores the belief among them in the country, it highlights the collective strength of female communities and mentors. These networks are not just support systems but catalysts for innovation, growth, and success.
Nirupama V.G., Founder & MD of Ad Astra Consultants adds “Mentorship among women is a cornerstone for cultivating leaders and innovators in India’s entrepreneurial space. At Ad Astra Consultants, one of India’s largest women-led businesses, we see firsthand the ripple effect of empowered women mentoring others. Such connections do more than a guide; they build a framework for collective success and progress. It’s essential we continue to nurture these relationships, crafting a future where female entrepreneurs are not just participating, but are central to shaping the business landscape.”
The recent WISER report highlights the resilience of women entrepreneurs in India. As of 2023, they are providing direct employment to 22 to 27 million people. However, their journey is often self-navigated, with more than 90% of companies run by women being self-financed. The lack of formal mentorship structure is evident, as a portion of these enterprises remains micro in scale. Yet, the demand for mentorship is palpable, with the report revealing that 62.7% of professionals prefer upskilling programs that offer access to a mentor.
Mentorship offers more than just business counsel—it’s about breaking down deep-seated social and gender barriers, many of which are rooted in societal norms. A study by Forbes India suggests that mentorship can generate transformational employment in India, to the tune of 150–170 million jobs by 2030. This is not just about creating jobs; it’s about changing the narrative for women in business.
The Indian government, recognising the pivotal role of mentorship, launched the Women Entrepreneurship Platform (WEP), aiming to build a vibrant ecosystem for young women entrepreneurs. Reports from WEP highlight the impact of mentorship on business growth for women. From facilitating networking to providing nuanced business insights, mentorship programs are instrumental in nurturing the next generation of women leaders.
Comparatively, India’s entrepreneurial ecosystem still has strides to make in fostering female entrepreneurship. With only 14% of Indian women owning or running businesses according to an IMF study, the country lags behind the global average. This disparity underscores the need for more robust mentorship and support structures.
Looking ahead, the trajectory of female entrepreneurship in India is poised for an upward trend. The inherent resilience and adaptability of Indian women, combined with growing institutional support, set the stage for a brighter future. As more women take the entrepreneurial leap, the ripple effects of their success will be felt across the economy and society at large.
The mentorship of women by women is not just about individual success stories; it’s about crafting a narrative of collective empowerment. It’s about building a legacy that transcends the individual, one where every success story becomes a stepping stone for the next aspiring entrepreneur in India.
She Leads: Empowering Women in Entrepreneurial Ecosystem Through Mentorship
Posted on November 22, 2023 by Editor
In the evolving landscape of Indian entrepreneurship, the emergence of women as business leaders has been nothing short of transformative. Yet, the journey to the top is fraught with challenges for women. This is where the power of mentorship shines through, acting as a beacon for aspiring entrepreneurs. The importance of a supportive community and mentorship is felt across India’s entrepreneurial ecosystem. The “Women & Entrepreneurship In India” study underscores the belief among them in the country, it highlights the collective strength of female communities and mentors. These networks are not just support systems but catalysts for innovation, growth, and success.
Nirupama V.G., Founder & MD of Ad Astra Consultants adds “Mentorship among women is a cornerstone for cultivating leaders and innovators in India’s entrepreneurial space. At Ad Astra Consultants, one of India’s largest women-led businesses, we see firsthand the ripple effect of empowered women mentoring others. Such connections do more than a guide; they build a framework for collective success and progress. It’s essential we continue to nurture these relationships, crafting a future where female entrepreneurs are not just participating, but are central to shaping the business landscape.”
The recent WISER report highlights the resilience of women entrepreneurs in India. As of 2023, they are providing direct employment to 22 to 27 million people. However, their journey is often self-navigated, with more than 90% of companies run by women being self-financed. The lack of formal mentorship structure is evident, as a portion of these enterprises remains micro in scale. Yet, the demand for mentorship is palpable, with the report revealing that 62.7% of professionals prefer upskilling programs that offer access to a mentor.
Mentorship offers more than just business counsel—it’s about breaking down deep-seated social and gender barriers, many of which are rooted in societal norms. A study by Forbes India suggests that mentorship can generate transformational employment in India, to the tune of 150–170 million jobs by 2030. This is not just about creating jobs; it’s about changing the narrative for women in business.
The Indian government, recognising the pivotal role of mentorship, launched the Women Entrepreneurship Platform (WEP), aiming to build a vibrant ecosystem for young women entrepreneurs. Reports from WEP highlight the impact of mentorship on business growth for women. From facilitating networking to providing nuanced business insights, mentorship programs are instrumental in nurturing the next generation of women leaders.
Comparatively, India’s entrepreneurial ecosystem still has strides to make in fostering female entrepreneurship. With only 14% of Indian women owning or running businesses according to an IMF study, the country lags behind the global average. This disparity underscores the need for more robust mentorship and support structures.
Looking ahead, the trajectory of female entrepreneurship in India is poised for an upward trend. The inherent resilience and adaptability of Indian women, combined with growing institutional support, set the stage for a brighter future. As more women take the entrepreneurial leap, the ripple effects of their success will be felt across the economy and society at large.
The mentorship of women by women is not just about individual success stories; it’s about crafting a narrative of collective empowerment. It’s about building a legacy that transcends the individual, one where every success story becomes a stepping stone for the next aspiring entrepreneur in India.