Women entrepreneurs are more creative and open-minded, India needs them to boost the economy. The situation is that women form 50 per cent of the world’s population and that is an abysmal picture by any standards. Amitabh Kant said that high growth rates of 9-10 per cent year-after-year are not possible for India till women don’t become key entrepreneurs. He added that further has gone on record and said that whenever opportunities have been made open for women, they have done much better than men. It is immensely important that women entrepreneurs are given the right kind of environment to be equal participants to help India to scale its economy to the tune of $5 trillion.
The pandemic and the ensuing lockdowns put a grave dent in the economic framework of all countries. Currently, the gradual re-opening up of economic activities presents a golden opportunity for women entrepreneurs to adapt to “the new normal”, after all, study after study has shown that women are more creative and open-minded and that is exactly what the nation needs to build a new order. This is especially important because the new normal is not a constant, it is ever-changing as the new things about the pandemic and learns of new ways to cope and overcome. The country needs all the creativity and the open-mindedness, it can get to boost the economy.
Then, in the course of this pandemic, technology has demonstrated its importance in the world and how crucial it has become for us to survive through this crisis. From health to education to entertainment to work, all our immediate needs and wants are fulfilled by innovative technologies. And there are many more fronts in travel and tourism, manufacturing and logistics and others, where technology has only scratched the surface.
Hence, women tech entrepreneurs are needed to boost the economy and provide the right levels of empathy and creativity to help us sail in these stormy seas. Now, by providing specific suggestions on how women entrepreneurs can go about building their businesses, I would be being prescriptive and going against promoting their creativity and open-mindedness. So here are some generic ideas that I wanted to share.
Incubators and Accelerators can play an important role in helping enable a lot of the support that is required by the government, supranational bodies and corporate to help in setting up specific, outcome-oriented schemes to promote women entrepreneurship through incubators. India can add $700 billion to India’s economy if that help women in India to reach the worldwide average in terms of women working in 48 per cent and it was stand at just 22 per cent. Immense efforts are needed to increase women participation in the workforce, and it can do it with the right policies and encouragement.