A recent study conducted by Edupull, an ed-tech startup with over 8,700 students in various cities of Karnataka, has illuminated the challenges encountered by young women aspiring to become entrepreneurs. The survey uncovered that many young women perceive a lack of attention in comparison to their male counterparts and face barriers in accessing available mentorship, thus obstructing their entrepreneurial journey.
The findings indicated that 66% of the respondents reported having entrepreneurial role models or mentors, which they deemed essential for motivation. However, the study highlighted a substantial gender disparity, with nearly half of the women in Tier 1 and Tier 2 cities lacking mentor figures to steer them in scaling their business ideas. This underscores the urgent necessity for tailored mentorship programmes to assist aspiring female entrepreneurs.
The survey, entitled ‘Exploring the Landscape of Indian Students and Entrepreneurship’, was conducted in the first two weeks of February 2024. Rohan Rai, co-founder of Edupull, stressed the need to address the restricted educational options and accessibility confronted by women in tier two and three cities, attributed to cultural backgrounds and societal influence. Rai proposed that universities and the government should enact policy changes, such as replicating the IITs, IIMs, and IIITs model, and establishing incubation and upskilling centres in smaller towns.
A primary challenge reported by the majority of respondents (23.91%) was access to funding and capital. In addition, assembling a capable team for their distinct ventures and attracting the right talent emerged as a significant concern for 19.57% of the surveyed students. The study also unveiled that nearly two-thirds of respondents (59.02%) believe that the overall support system for entrepreneurs in India is feeble and deficient.
Rai emphasized that many young entrepreneurs are hesitant to take the initial step and are unaware of the financial and infrastructure requirements involved in nurturing their businesses. The study also indicated a burgeoning trend among young individuals, particularly in Tier 1 cities, to deviate from the conventional 9 to 5 work routine through entrepreneurship. Meanwhile, in Tier 2 and 3 cities, there is a strong desire among youngsters to address pressing societal issues through entrepreneurship.
In summary, the study’s findings underscore the necessity for tailored support and mentorship programmes to empower young women in their entrepreneurial pursuits. It is imperative to address the gender gap in entrepreneurial mentorship and provide the essential resources and educational opportunities to aspiring female entrepreneurs. By cultivating an environment that supports and promotes the entrepreneurial aspirations of young women, we can strive towards creating a more inclusive and diverse entrepreneurship landscape.