Women often have a deep underlying purpose for building their companiesGlobally, the underrepresentation of women in entrepreneurship and leadership is attributed to a range of factors, including a lack of education, limited asset ownership, social and cultural restrictions, gender stereotypes and unequal access to resources. In some countries, for example, women who are not heads of households need their husband's permission for certain activities and require men as co-signatories.
To gain insight into the experience of some female tech entrepreneurs, DNA spoke to four founders who between them, have between three years to 22 years of experience. For Renuka, becoming an entrepreneur was a personal decision. In 2001 she co-founded a legal practise specializing in intellectual property but didn't enjoy it as much. Her passion for coaching and mentoring entrepreneurs led her to work with startups and becoming a co-founder of ScaleUp Malaysia. Renuka believes that in order to teach others, you must first experience it yourself.
While she raised US$500,000 in seed funding led by 500 Global within a year of launching PurelyB in 2015, the subsequent funding was harder to come by, though she now has hit US$1.8 million in total funding raised.With an ambition to build Asia’s first health and wellness content integrated marketplace then, Jesrina encountered investors who could not connect with its mission and who viewed the market as too niche and difficult to scale. “Male investors couldn’t resonate with it [our purpose].
Sharala, on the other hand, centres on pure grit and toughness as key qualities. She believes that women naturally possess the necessary skills for entrepreneurship, such as grit, toughness, strength, hard work, and risk aversion through over-analyzing., with the latter being a double-edge sword. Sharala acknowledged that over-analyzing can be a disadvantage as it can deter women from becoming entrepreneurs.
Entrepreneurial activity is also shaped by social capital and social networks. Additionally, as women entrepreneurs expand their networks and influence, they bring important issues concerning inequality and inclusive development to the table, creating a positive feedback loop for change. Jesrina emphasized the importance of women having access to additional support groups, which can enable them to overcome perceived obstacles, understand their capabilities, and confidently answer questions such as"Can I do this?" and"Should I do this?"