BENGALURU: Young women who want to pursue entrepreneurship feel neglected when compared to their male counterparts and express that they don’t have enough available mentorship, finds a recent study. The survey was conducted to understand the entrepreneurship landscape in the younger generation, with many giving corporate and multinational companies a miss and taking a leap of faith to build their brands.
The survey conducted by Edupull- an ed-tech startup with over 8,700 students including Tier-1 and Tier-2 cities of Karnataka such as Bengaluru, Mysuru, Belagavi, Hubbali and Mangaluru found that though youngsters are passionate about their aspirations, currently there are many roadblocks.
The survey’s findings reveal that 66 per cent of respondents said they have entrepreneurial role models or mentors which is a crucial source of inspiration. However, there is a huge gender gap, nearly half of the women in Tier 1 (46.4%) and Tier 2 cities (42.44%) lack mentor figures who can help them scale their ideas. The study, ‘Exploring the Landscape of Indian Students and Entrepreneurship’ suggested that there is a pressing demand for targeted mentorship programmes to support aspiring female entrepreneurs.
The survey was conducted in the first two weeks of February 2024 and the findings were out for the public. Rohan Rai, co-founder Edupull said that though the number of youngsters exploring entrepreneurship is on the rise there are serious gaps.
“The females in tier two and three cities have limited educational options and accessibility, given the cultural backgrounds and societal influence. Universities and the government should address this and make appropriate policy changes. The first step could be replicating the IITs, IIMs and IIITs model and build incubation and upskilling centres in smaller towns,” Rai opined.
A majority of respondents, around 25,000 (23.91%) said access to funding and capital is a primary challenge. Building a strong team for their unique ventures and attracting the right talent was another major concern for 19.57 per cent of the students surveyed. Nearly two-thirds of respondents (59.02%) also believe that the overall support system for entrepreneurs in India is weak and lacking.
Rai added that youngsters are hesitant to take the first step and unaware of the financial and infrastructure demands to nurture young businesses. There is also a growing trend among youngsters to break free from the 9 to 5 cycle especially males in Tier 1 cities who want to escape the traditional work routine through entrepreneurship, while in Tier 2 and 3 cities, youngsters want to address pressing problems statements