There is an increasing number of female led start-ups in Southeast Asia. The Dealstreet Asia Female Founders in Southeast Asia 2023 report found that Southeast Asian startups with at least one female founder accounted for 18.3 per cent of private capital raised in 2023 – higher than the 12.6 per cent share the year before. Of the countries in the region, Singapore stands out as a leader for the cultivation of women-led start-ups. Data from a recent Tracxn report discovered that of the 1,700 women-led startups in Southeast Asia, 936 of them come from Singapore. This indicates the healthy trajectory Singaporean businesses are taking towards a more equitable business environment for the startup industry.
While these results signify the positive steps that are being taken towards gender equity in Singapore’s startup industry, it discounts the glaring gender disparities that remain present. A 2023 study from the Intellectual Property Office of Singapore found that women-led businesses tend to have less growth potential, claiming that they tend to operate their businesses in sectors less conducive for growth and are less likely to use growth-oriented methods. More can be done to level the playing field for women-led businesses. The provision of business opportunities solely for women-led businesses can be used as a platform for womenpreneurs to change perspectives and foster a business environment that is more inclusive of womenpreneurs.
UOB FinLab is committed to supporting the growth of women-led businesses. We want to ensure that the business environment is suited for their involvement to maximise the range of insightful perspectives and dissolve gender norms. Thus, we have reached out to various, passionate womenpreneurs individually to understand their needs to maximise their growth in this evolving business climate.
Belinda Yeo, Director of Innovez Engineering, changed her perspective on networking sessions through her participation in our first womenpreneur networking event. Previously, she had reservations about attending networking events, as the crowd tended to be diverse and male-centric.
Belinda was thrilled with her decision to attend and shared, “It finally gave me an opportunity to interact with and glean from other female business leaders in different industries.”
This sentiment was reiterated by other womenpreneurs. Jeanne Liu, Director of Rich & Good Cake Shop, appreciated having the opportunity to connect with like-minded business owners.
Jeanne saw immense value in her interactions with business owners who were at the same stage of business as those opportunities were harder to come by.
Ethel Tan, Co-Founder of Edith Patisserie, shared that she really enjoyed participating in the networking event as she was able to make “genuine connections with other entrepreneurs”.
These shared perspectives showcase the positive impact that networking events have had on the womenpreneurs. We are happy to see that our womenpreneur programme has instilled a sense of community amongst the womenpreneurs and provided a conducive space for female business owners to earnestly connect and support one another. It has shown that relationships need not be confined to industries and that business owners can create a deeper bond through shared experiences.
Jodie Loi, Founder and Design Strategist of Zoco Collective, succinctly articulates the importance of community, saying that “knowing you are not alone in the journey already makes an impact”.
Some womenpreneurs have even found opportunities amongst each other for collaboration. It has also highlighted the value of community to these womenpreneurs as they were able to find a support system that was unique to this community. The womenpreneurs were able to realise that business journeys do not need to feel isolating. We are committed to reaching out to even more womenpreneurs to further broaden and strengthen this amazing community.
Community is not only limited to the relationships amongst the womenpreneurs, but it also extends to partners and private organisations. On top of organising networking events, our team has started a series of initiatives under the banner, “Digitalisation Innovation Programme: Womenpreneur”, to empower women entrepreneurs as they navigate the digital landscape.
The Digitalisation Innovation Programme: Womenpreneur 2024 was a two-week programme in April that was designed for womenpreneurs to develop critical skills like strategic planning, financial management, and digital adaptation through engaging workshops. It also connected these womenpreneurs with industry experts and professional mentors that shared individualised feedback that was relevant to their respective journeys.
Notably, the Business Model Canvas Workshop was very well received by the participants. This interactive workshop guided participants through the various facets of their business, covering aspects such as their customer segmentation, value proposition and revenue streams. It made use of the Business Model Canvas chart to document their status and their goals for each of these aspects, which helped womenpreneurs visualise and map out their business journeys. This workshop was especially valuable for business owners who lacked a background in business.
After experiencing UOB FinLab’s tailored womenpreneur programmes and networking events, the womenpreneurs have found immense value in community and collaboration. We are proud that the programme has nurtured strong relationships amongst the womenpreneurs. Our commitment to supporting the womenpreneur community continues as we reach out to more womenpreneurs to uncover more pain points and provide effective solutions that will target their needs.
If you are interested in joining our community of wonderful womenpreneurs, we have opened registrations for the Digitalisation Innovation Programme: Womenpreneur+, a two-part series that will focus on strategic market outreach, financial literacy and digital adoption. The programme will include two half-day workshops that focus on crafting a unique brand narrative and brand building on LinkedIn. It will take place on 27 and 28 August.
Find out more information about UOB FinLab programmes here.
UOB FinLab has recently collaborated with Synagie to elevate its Digital Innovation and E-commerce module on our community page! Learn to incoporate practical tools and insights to seize opportunities and overcome obstacles in your business.
Discover how UOB FinLab supports women entrepreneurs in a rapidly evolving business landscape through initiatives, including the Digitalisation Innovation Programme: Womenpreneur (DIPW).
Wrapping up the #UOBxWomenpreneur Series on 15 October, UOB reinforced its commitment to supporting SMEs. In collaboration with Business Banking Singapore, Boston Consulting Group (BCG) and UOB FinLab, the event offered insights on Financial Literacy, a women leaders’ panel and a hands-on workshop on BCG’s Rise Lite programme.
Designed for business owners to enhance their digital capabilities through practical learning, this programme takes businesses to the next level.
Designed for business owners to enhance their digital capabilities through practical learning, this programme takes businesses to the next level.
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