Why Women-Only Incubator –
Global & Local entrepreneurship narrative
With an escalation of entrepreneurship sector in Pakistan and world over, many support entities (incubators, accelerators) have opened space. However, few have been seen that focus on facilitating women-led businesses and women entrepreneurs themselves.
The global and local narrative of women entrepreneurship has been a subject to many challenges. The reason that limits women from growing their businesses are time, human, physical and social constraints (WBG 2018). In Pakistan, their economic participation has always remained less than men. This can be seen in the fact that the labour force participation of women ages 15-64 years remains a low 35% in Punjab, concentrated in the low paying informal sector. Disaggregating urban and rural, the participation of rural women in Punjab is high at 44% compared to only 16% in urban areas. Women owned business represent between 2 – 3.5% of 3.2 million enterprises in Pakistan. Globally firms with female participation is almost 35% (source: WBG 2017, Pakistan Census).
Opposed to these stats however it is found that more women than men introduce innovations in developed economies. We also see female only founding teams performing better as a recent report on the entrepreneurship ecosystem of Pakistan, Beyond The Buzz states that more than half the start-ups that reach the profit-making (maturity) stage have women in their founding teams.
Thus, there is a lot of potential in the nascent female entrepreneurship sector and this definitely is the right time to develop a platform like WIN.