Indian women are taking on pioneering roles within the Web3 ecosystem, spearheading a generation of leadership and innovation throughout industries, sectors and nations. From building decentralized lending platforms to creating groundbreaking crypto applications, these women are not just consumers but active builders, investors, creators, and leaders in the blockchain revolution.
Neha Soni is the CEO and founder of Corum8. Her global blockchain, AI development and growth marketing company is a prime example of this transformative tide. As CEO, her business provides blockchain startups a full suite of services, from acceleration and incubation to investor relations and tech development. That comprehensive approach is key to fostering and growing Web3 projects that call India home.
Pioneering Ventures and Technological Advancements
This can be seen from the various businesses Indian women are building in Web3, ranging from NFTs to technological innovations. Women artists are leveraging Non-Fungible Tokens (NFTs) to sell their paintings globally, facilitated by platforms like WazirX NFT, which actively promotes Indian women artists. This digital avenue has opened up new opportunities for artists to connect with the rest of the world, establishing international opportunities and recognition.
In rural India, women-led startups are building decentralized lending ecosystems to fill important financial inclusion gaps. With this policy, the initiative has strengthened marginalized communities by giving them access to financial services that have long been denied. Furthermore, smart contracts and women leaders are spearheading initiatives focused on women's land ownership, menstrual health supply chains, and education funding, showcasing the multifaceted impact of women in Web3.
Harshita, just 16 years old and already a prodigy, had built the Crypto Price Tracker app. This groundbreaking tool drew worldwide acclaim and highlighted the spectacular capabilities of young women in tech. Radhika has created a powerful new social media audience of over 100,000 engaged people! She’s passionate about demystifying crypto, NFTs and other blockchain technologies for women and newcomers. These initiatives are key to democratizing access to information and building greater participation in the emerging Web3 ecosystem.
Overcoming Funding Challenges and Securing Investments
At the same time, for all their incredible achievements, India’s women-founded crypto startups face difficulty in receiving venture capital (VC) funding. A new 2023 report by Orios Venture Partners shows a shocking trend. India accounted for just 3% of global Web3 investments that reached all-female founded projects. This stark discrepancy underscores a lack of inclusivity and support for women entrepreneurs in the blockchain space.
In addition to her work in the Blockchain Association, Kavita is one of the leading crypto investors and global thought leaders actively investing in the blockchain ecosystem. She is one of only a handful Indian women VCs active in this space. Her crucial role has included training and supervision for new women-led businesses. Her investments do more than provide capital, though. They provide invaluable advice and connections, such as to government contracting opportunities.
Corum8, under the leadership of Neha Soni, is instrumental in bridging this gap by offering comprehensive support to blockchain startups. From acceleration to incubation, investor relations to technology development, their services offer a 360-degree solution to give startups the competitive edge to thrive. Without this integrated approach, we will not conquer the funding chasm and build the kind of sustainable long-term growth Web3 requires.
Future Prospects and Market Growth
The future of Web3 in India looks extremely positive. According to a recent report from crypto exchange KuCoin, there will be more than 150 million crypto users by 2030. This growth creates immense opportunities for women to continue to cultivate their impact and leadership in the blockchain and crypto industry, establishing a stronghold. As more women become builders, investors, creators, and leaders, they will drive innovation and shape the future of Web3 in India.
Whether it’s through code or communities, smart contracts and women leaders are fueling movements that make tangible and positive change. They are making serious strides in increasing women’s land ownership, securing menstrual health supply chains, and increasing education funding. These initiatives are a powerful example of what blockchain can do to solve acute social challenges and support women in every industry. Platforms such as WazirX NFT work towards actively onboarding women artists. This support will ensure that their voices and contributions are given a higher profile on the global stage.
