How the Google business accelerator provides a secure environment for female entrepreneurs

 How the Google business accelerator provides a secure environment for female entrepreneurs

According to Paul Ravindranath, director of the Google Accelerator programme, it is essential for entrepreneurs to create a place for talks, share their deepest anxieties, and be vulnerable.

What do Drs. Jo Aggrawal and Geetha Manjunath, who developed Wysa, an AI chatbot that aids in boosting people's emotional resilience, have in common? Both are the pioneers in the fields of artificial intelligences.

They both received support from Google's Start-up Accelerator programme, which has fostered female entrepreneurs across India.

Google's special accelerator for female founders covers particular issues including leadership development, access to funding, and recruiting tech co-founders. With a solid peer group and support structure for women from varied backgrounds, the project has had some success. Additionally, the proportion of female founders has increased over time, rising from 8% to 30% to 35% of applications. These numbers have increased thanks in part to the passionate women entrepreneurs' programme.

These types of tales provide as inspiration for Paul Ravindranath, CEO of Google India's Accelerator. This is what keeps me going. This initiative, which I've been working on for the past five or six years, is what puts me closest to having an effect, he exclusively told IndianExpress.com.

In order to obtain capital, women founders must not only sell the concept of their business but also overcome some systemic prejudices. Stronger storytelling and a specific emphasis are needed to convey the concept of a woman as a leader, CEO, or CXO. Here is where Google's peer network and support system come into play.

inclusive setting

It's important to create a safe environment where entrepreneurs can open up and share their deepest anxieties, according to Ravindranath.

Google supports female businesses from all throughout the country. According to Ravindranath, over 60% of businesses originate from Tier II and Tier III cities, hence it has been concentrating on assisting them. The tech giant seeks to support early-stage start-ups via programmes including startup school, virtual mentorships, partnership with state governments, and partner accelerators, with a focus on women entrepreneurs in particular.

These programmes were created to cover a range of business topics, including leadership and product strategy. Additionally, collaborations with groups like the Deshpande Foundation and the Kerala Startup Mission aid in establishing a link at the grassroots level, supplying these founders with information and access, and promoting development in the Tier II and Tier III ecosystems.

Since 2014, Google has been actively involved in India's startup environment. The business has started a number of initiatives to support entrepreneurs, including Launchpad Week and the Accelerator programme, to aid in their development and innovation. Additionally, these courses have assisted women in realising their business potential.

support for Indian inventors

The one-week model of Google's Accelerator initiative has changed to a three-month assistance package. It now has 19 accelerators throughout the world, including three cohorts every year in India. The curriculum provides in-depth analyses of several start-up-related topics, such as product strategy, tech strategy, growth strategies, and more.

In India, 157 businesses, including a unicorn, have received help from Google initiatives totaling roughly $3 billion in financing, according to Ravindranath. More than 13,000 employment have been generated by them, and they just launched a special accelerator for female innovators.

The Accelerator initiative has concentrated on businesses that use technology in novel ways, particularly ML and AI. The project helps several companies in a variety of industries, including healthcare, retail, FinTech, media, entertainment, EdTech, agritech, and more. The curriculum also fosters a vibrant network of thought leaders and cultivates a long-lasting relationship with its participants, thereby beginning a long-term mentoring relationship.

By continuing to connect with, coach, and assist course alumni, Google maintains a tight relationship with them. As trainers and mentors for current cohorts, alumni also give back to the programme, according to Ravindranath.

What distinguishes start-ups in India?

According to Ravindranath, Indian start-ups have progressed beyond copying preexisting concepts to addressing more significant, complicated societal concerns, particularly in the healthcare and public policy sectors. 

 If you look at the growth of business today, you'll see entrepreneurs taking on significant, intricate societal issues like healthcare and public policy, he continues.

He stressed how Indian innovators and businesspeople have excellent technical backgrounds, which is fostering innovation. He claims that the post-pandemic period in India has resulted in a rise in the number of new internet users, opening the door for creative solutions and possibilities. The Google executive also emphasised that Indian entrepreneurs' strongest traits were their technical aptitude, flexibility, and speed.

overcoming obstacles particular to India

Google has been helping companies address a number of issues unique to India through its accelerator programme in industries including education, agritech, finance, retail, etc. The relationship between Google and the participating business owners continues. The search engine giant keeps in close contact with the program's graduates by providing ongoing engagement, mentoring, and support. The course also benefits from the alumni, who serve as coaches and mentors for the present cohorts.