Ministry of Commerce and Industry reports 1.57 lakh DPIIT Indian Startups have at least One Woman Director

By: WE Staff | Thursday, 26 December 2024

The Ministry of Commerce and Industry reports that nearly half of the over 1.57 lakh startups recognized by the Department for Promotion of Industry and Internal Trade (DPIIT) have at least one woman director.

As of December 25, 2024, there are 73,000 startups with at least one woman director out of 157,066 DPIIT-recognised startups. The government has introduced measures to support startups, including simplified compliance, tax benefits, and funding support through initiatives like the Fund of Funds for Startups.

Referring to the stats, the report mentioned "showcasing the crucial role women play in driving innovation and economic growth." It added "The entrepreneurial spirit in India has undergone a paradigm shift in the last decade. Cities like Bengaluru, Hyderabad, Mumbai, and Delhi-NCR have become epicenters of innovation."

The Startup India Initiative, launched in 2016, offers financial support and benefits to startups recognized by the DPIIT. Startups registered under the scheme enjoy tax exemptions for three consecutive financial years, simplified compliance, self-certification, and single window clearances.

Fund of funds for startups initiative allocates Rs 10,000 crore to boost early-stage funding, fueled by affordable internet and a young workforce in fintech, edtech, health tech, and e-commerce sectors.

India's startups are using AI, blockchain, and IoT to solve local and global problems. Despite regulatory provisions, women representation in top management is low, with less than 20% of women on boards, compared to the global average of 33%. This ecosystem fosters innovation and bridging grassroots challenges.