[Women’s Day] There are a lot of spaces where ventures can be started; the person matters: Padmaja Ruparel of IAN

On Women’s Day, it’s a given to take note of the contribution that women have made in several fields. The startup ecosystem is no different, and it’s a fact universally acknowledged that the percentage of women entrepreneurs is steadily growing.

Padmaja Ruparel, Co-founder of Indian Angel Network, has been actively involved in entrepreneurial ventures. President of IAN, one of the world’s largest groups of business angels, she’s also an investor and the group has invested in Monitra Healthcare, and Chakra Innovation.

IAN now has nearly 500 investors from over 10 countries, and its operations have come a long way since its inception in 2006. It has invested in 100-odd companies spread across a variety of sectors, including education, healthcare, QSR, ecommerce, gaming, semiconductors, robotics, manufacturing, etc.

It exited Wow! Momoand Faballey in 2019, but continues to invest in several startups.

In an interview with HerStory, Padmaja Ruparel speaks her mind on the Indian startup ecosystem, the role women entrepreneurs play, the challenges they face, and why the future appears bright.

Edited excerpts from the interview:

HerStory(HS): Is there a gap between women and men in the startup ecosystem? What are some of the aspects that need to be addressed in this context?

Padmaja Ruparel (PR): If I step away from the startup ecosystem itself, there is a gap across the world between working men and women. There are many reasons. In India, there are even social reasons and in many pockets of societies, women do not work. It’s there whether we like it or not. That gap is narrowing, but it’s still there.

In the startup ecosystem, women have to build a much higher level of self-confidence. Unless that self-confidence is built, entrepreneurship becomes more difficult. Entrepreneurship involves going and raising money, pitching to customers, and bringing new employees. That confidence level is building up now. I can see that not only in women entrepreneurs from Tier 1 cities, but in those from Tier 2 and Tier 3 cities too.

HS: Why do you think that the percentage of women entrepreneurs is just a small fraction of the overall pie?

PR: Around the world, the entrepreneurial percentage of women is much lower than men. There will be all sorts of people so it’s up to women to fight as it is for the men. There’s no difference.

There is a huge need for the ecosystem to recognise these barriers, and not look at women differently. That change, though, takes longer because suddenly you are giving up a bit of your space. But the idea is to not actually give up your space but to create a much bigger space for all of us.

There are complementary strengths between genders, which help build a much more valuable venture.

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HS: What is the scope for women entrepreneurs?

PR: My personal view is that by 2030, we should be reaching at least 20-30 percent of women entrepreneurs. Currently, it is hovering around 16 percent, so it should increase within the next eight years. I also think women entrepreneurs will pick up many innovative spaces.

HS: Personally, what are the sectors in which you noticed more women entrepreneurs than usual?

PR: Yes, it’s natural that there are certain sectors where there are more women entrepreneurs. Irrespective of gender, as an entrepreneur, you play to your strengths and what you know better. I think that’s very important because only then will you succeed.

But today, take any sector in the country, be it foodtech or beauty, technology is going to change everything. So that is bringing down the disparity between genders in different sectors.

Good women leaders and startup founders are emerging, and we’re seeing a mix of genders in building teams. I think the sector doesn’t matter today. There are a lot of spaces where ventures can be started; it’s the person that matters.

HS: Budget 2022 has placed substantial focus on the startup ecosystem in India. Where does the Indian Angel Network stand on this?

PR: What is very heartening about the last five to six years is that startups have been an agenda in the budget. That’s a great move, and it’s something that I have been seeking for 20 years.

A few things in the budget were very central to startups. A lot of domestic funds would be created, and that is very catalytic to opening up that sector. Be it cyber or education, all got a boost in the budget. That inspires and encourages many people to start up.

I personally feel there is an opportunity that India might grow from being the fastest startup ecosystem to the top ecosystem of innovation.

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HS: Can you highlight some of the major challenges faced by women in setting up their own startups? How often have you seen this happen?

PR: When they start out, I think one of the things that startups do get fazed about is ‘how do I get my company going?’. Simplifying that would be great. The other question is about how they will get money, because debt is very difficult. And when we go back to those pockets of Indian society, many women do not own assets. When they need to raise debt, they don’t have assets. It may be in their names, but they don’t have the authority to make decisions about those assets. That becomes a difficult situation.

HS: Are there any current trends of growth in terms of women starting up their businesses, and going about the funding process?

PR: One of the great things that I’m seeing on ground is that a lot of women entrepreneurs are reaching out. They’re saying that they have some ideas, they’re putting them out that they are starting a business and want someone to guide them.

A lot of calls and meetings are happening virtually, which has helped women as they can work from their homes. There are also WhatsApp groups where women are learning how to build businesses.

A shoutout to the sponsors of Women on Mission Summit 2022, an Initiative by HerStory, by YourStory. Byjus, the presenting partner, and other sponsors - Kyndrll, Sequoia Spark, Zilingo, Atlassian, Akamai, Freshworks for Startups, and Netapp Excellator.