Out of the over 58,000 Department for Promotion of Industry and Internal Trade (DPIIT) recognised start-ups, 46 per cent of them have an atleast one woman director. Further, under Startup India Seed Fund Scheme (SISFS), as of December 6, 2021, 55 women-led start-ups have been sanctioned financial assistance.
Out of these 55 start-ups, 30 start-ups have been approved funds of ₹1.948 crore, the Ministry of Commerce and Industry told Lok Sabha last week. The Ministry added that promoting women entrepreneurship has been a key national agenda for the government.
Ten per cent of the fund (₹1,000 crore) in the ‘fund of funds’ operated by Small Industries Development Bank of India (SIDBI) has been reserved for women-led start-ups, which will have a multiplier effect as ₹1,000 crore would mean an overall corpus of ₹7,000 crore.
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All the Alternative Investment Funds (AIF) where SIDBI takes equity have been mandated to contribute 20 per cent in businesses that are women-led, women-influenced and women employment or women consumption centric, according to the Ministry.
Minister for Commerce and Industry, Piyush Goyal, who was in Pune on Sunday, hoped that women will lead start-up culture in Maharashtra. More than 50,000 start-ups have been registered in India making it the third-largest ecosystem in the world.
Informing that as per DPIIT registrations, Pune has 3,200 start-ups whereas Mumbai has 3,274 start-ups, the Minister suggested that this healthy competition between Pune and Mumbai should continue.
‘More employment opportunities’
“Women-owned business enterprises are playing a prominent role in the society inspiring others and generating more employment opportunities in the country,” the Ministry told Lok Sabha.
Recalling the contribution of social reformer and educationist Savitribal Phule, he said that Savitribai had started the first girls’ school in Pune, so it is befitting that women entrepreneurs showcase their work in this Science Technology Park in Pune.
Speaking in Pune, Minister Goyal compared incubators with parents and added that they are like guides and supporters that start-ups need. Describing Pune’s unique position to support start-ups due to the presence of industry, IT and finest academic institutions minister added that it is time to increase international collaboration in the start-up ecosystem.