- Radha Rangarajan
Director, CSIR–Central Drug Research Institute (CSIR-CDRI), Lucknow
India has built a vibrant startup ecosystem in the biopharma sector over the last two decades, fueling innovation and novel product development. This transformation has included many women led startups, with active support from BIRAC, DST and DBT. As per BIRAC, almost 250 women entrepreneurs have been supported since 2012. Yet these numbers remain small in the overall context of the more than 5000 startups supported by BIRAC. Amongst investors too, women represent only about 1.5% of angel investors, pointing to a significant gender gap that needs to be bridged.
I believe that there is a major opportunity for women scientists to shape the S&T ecosystem. As global economies shift towards greater technology adoption and our assumptions of the job market are upended, job creators rather than job seekers are going to become drivers of the economy. Women can lead this shift and spearhead the development of new products, as demonstrated by the many microfinance and self-help group powered small businesses and pioneering biopharma women entrepreneurs. “Entrepreneurship has the potential to not only put women in decision making roles but also transform the work place for greater equity and diversity.” Thus, economic growth and an inclusive one at that, are advantages of women led enterprises.
Women must seize the opportunities available to them and take an active role in building businesses. Simultaneously, policy makers, educators, investors and other stakeholders must create enabling ecosystems to encourage and support women entrepreneurship at an accelerated pace.