Deepening Gender Diversity In Startups: What It Will Take To Have More Women In Tech & Product Leadership

India’s startup ecosystem has long been a trailblazer for innovation and growth, pushing boundaries and rewriting the rules of business. The agility that startups possess has also shown up on markers for gender diversity; the Women in India’s Startup Ecosystem Report (WISER) 2023 for instance highlighted the fact that 35% of the startup workforce comprises women as compared to a corresponding figure of just 19% in the corporate sector.

However, even startups have a long way to go when it comes to equitable gender representation in senior positions. According to WISER, 10 years into their careers, 8 out of 10 men in startups occupy Director-level positions or higher, compared to only 5 in 10 women. At the leadership level, the gender gap becomes even more pronounced when it comes to technical and product roles, given such functions are seen to have only 20% women overall.  

This gap is not just a challenge; it is an opportunity for introspection by founders, CHROs and managers alike. Startups are uniquely positioned to rethink traditional approaches and create pathways that enable more women to advance into leadership roles within technology and product functions by actively addressing the barriers women face as they transition from mid-management. Timely and targeted action can ensure that startups realise their potential of becoming truly gender-equal workplaces and lead the way for India Inc on the topic.

The Business Case For More Women In Tech & Product Roles

What absolutely has to be said is that the benefits of addressing the gender gap extend far beyond fairness or inclusion. Diverse leadership teams are consistently linked to better innovation and stronger business outcomes. A McKinsey study found that companies with more gender-diverse executive teams financially outperform their peers. This indicates that beyond the ideals of equity, there exists a strong business case for women in senior roles, particularly in technology and product verticals where they remain comparatively underrepresented.

Teams with women in senior technology/product roles have shown evidence of creative problem-solving with technical rigour as well human-centered product design that resonates with consumers. In fact, more diverse teams are critical to mitigate risks around perpetuating bias in technology. Additionally, increasing women’s representation in leadership has a ripple effect, inspiring the next generation of talented women to pursue careers in product development and technology. 

The great news is that organisations are increasingly recognizing this as an area of focus and are taking proactive steps like conducting gender sensitisation training, piloting returnship programmes and promoting networking opportunities for women. However, such efforts are currently restricted to individual employers whose leaders are personally committed to addressing gendered barriers at the workplace. Change at a systemic level is key to create a more resilient, gender equal startup ecosystem.

Aligning Demand & Supply 

For women in product and technology roles, breaking the ceiling into senior leadership positions will need synergised efforts between all stakeholders through a top-down approach that helps align behaviours, policies, and practices. 

Such efforts can take many forms. At an ecosystem level, structured mentorship programs can provide insights that help women navigate their professional journeys, while community-led efforts bring diverse perspectives together to advocate for change. Leadership accelerators can help startups make this actionable by providing a platform that gives their high-potential female employees in tech/product roles access to experiential learning with industry leaders and 1:1 executive coaching; backed by organisational commitment towards their advancement.

Furthermore, investors can nudge their portfolio companies to meet internationally benchmarked Gender Equality, Diversity and Inclusion (GEDI) standards while organisations can set and track gender diversity goals in such functions across levels. When championed by founders, such initiatives can truly empower women to own their professional growth, and catalyse their career trajectories, at the same time bolstering organisational capabilities.

The Path To Progress

A study by the Harvard Business School on gender diversity and firm performance found that a strong commitment to gender diversity creates a self-fulfilling cycle. Companies that believe in, and work towards, gender parity are those that best reap its rewards.

Hence, true advancement on gender parity in India will require organisations to deeply introspect – identifying and addressing demand-side barriers at source, creating transparent pathways for women to advance, and investing in leadership development programs. On the other side, what it helps startups do is build future-ready teams by investing in developing their next-in-line leadership and strengthening their employer brand by demonstrating a commitment to diversity.

India’s startups have always been about more than just building businesses—they’ve been about building the future. An ecosystem that empowers women to lead in technology and product roles can unlock innovation, profitability, and a future workforce that reflects the diversity of the country. This is not just a moment to address gaps; it is a chance to lead the way.

The author is a Director at ACT, an Indian venture philanthropy platform that believes that an entrepreneurial mindset, technology and innovation, and collective action have the power to create meaningful impact at scale.