An Expert Time Fund to Help Support and Amplify Women-Owned-Businesses
WHY WE DO WHAT WE DO
Rising Workforce Participation but Underutilized Economic Potential
India’s Female Labour Force Participation Rate (FLFPR) has steadily increased to 37% in 2023-24, yet remains well below the global average of 50%. (Source: PLFS 2023-24). However, as per a dated estimate, women contribute only 17% to India’s GDP, less than half the global average, highlighting a major opportunity for inclusive growth
Rising Share of Women Owned MSMEs, but Challenges Remain
Women-owned MSMEs now make up 38.75% of total registered MSMEs in India, up from 20% in 2020—a promising trend. (Source: Udyam Registration Data, 2024). At the same time, India ranked 57th out of 65 in the Mastercard Index on Women Entrepreneurship (MIWE) 2022, highlighting structural barriers in funding, market access, and policy support.
Mighty but still largely Micro
The majority of women-led businesses are single-person micro-enterprises, with only 17% employing workers—and 95% of those have fewer than six employees, as the size of the enterprise increases, the proportion of women-led enterprises decreases
A Big Capital Gap
90 percent of women entrepreneurs have never availed formal finance; 70.37 percent of their financing demand remains unmet; translating into a financing gap of INR 1.37 lakh crore or USD 20.52 billion (IFC, 2018). In addition, less than 6% of venture capital in India goes to women-led businesses
Systemic Barriers
Women entrepreneurs face multiple challenges beyond access to capital, including lack of affordable childcare, lack of safety in working environments, limited market linkages, low awareness of government programs, systemic biases, and structural barriers in collateral and asset ownership.
We believe entrepreneurship can boost women's workforce participation, especially in areas with limited formal jobs. Despite progress from institutions and government, women still face barriers to capital, mentorship, and other resources. We're committed to amplifying women's voices, celebrating successes, breaking stereotypes, and using storytelling to transform the narrative around women-owned businesses in India.
OUR CORE FOCUS AREAS
Deep-rooted cultural factors continue to limit women's professional potential, but tackling them all at once is neither practical nor effective. While we can't attempt to solve every socio-cultural challenge, our collective expertise has identified three key levers that can drive meaningful change in the short to medium term.
Identify and tailor innovative financial products (including but not limited to grants, schemes, credit guarantees, revenue-based repayments, cash flow-based lending on platforms etc.) that effectively support the growth and scaling of WOBs and can be scaled.
Work closely with the existing providers of equity finance (venture capital, growth, private equity and public equity) to enhance their exposure to WOBs as well we improve the way they work with and support WOBs to scale
In the long term build or support the creation of a Billion Dollar fund to provide growth capital for WOBs in India
Work with policy-makers at the state and national levels to help devise and design financial products, schemes and programmes that address access to capital.
Advocate for and collaborate on developing gender-specific data infrastructure.
Partner with research institutions to publish and disseminate data-driven insights on women’s economic activities and business metrics.
Leverage this data to shape policy and broaden women’s economic participation ecosystem.
Partner with & support the work of entities like SIDBI, FICCI, and international foundations to promote and scale gender-specific financial programmes targeting women owned and run businesses
Identify and spotlight stories of women’s successes from across India, using their voices to amplify these stories effectively. To enhance visibility for unconventional women entrepreneurs, particularly those outside Tier 1 cities, R.A.G.E will collaborate with platforms, publications, and policy or academic institutions to produce data-driven studies and articles.
Work with state governments to organize events and huddles focused on Women-Owned Businesses (WOBs) within their states, shaping the narrative for greater success by expanding capacities and addressing critical gaps.
THE RAGE TIME FUND AND HOW IT WORKS
The time fund will consist of the time contributed by R.A.G.E. member volunteers to support the R.A.G.E. agenda and projects. Members of RAGE commit at least 5 hours in a month to this time fund to lend their time, network, and voice to specific identified projects
Monthly commitment of 5 hours minimum
Option to carry forward hours to next month
Clear tracking and accountability systems
Regular impact assessment and reporting
The R.A.G.E Pledge
"I pledge to dedicate five hours each month to R.A.G.E's Time Fund, collaborating within the R.A.G.E network to drive impactful initiatives. My efforts will focus on creating visibility, fostering meaningful change, and empowering women to achieve greater economic independence—whether as part of the workforce or as entrepreneurs. Together, we aim to strengthen the ecosystem and expand opportunities for women to thrive."
