Recently, all eyes have been on Ankiti Bose, India's first ever female entrepreneur to co-found a $1 billion startup. Zilingo, an e-commerce fashion and lifestyle company is on course to be of unicorn status — a startup valued at $1 billion — placing the company among only 10% of female founded unicorns.


In an interview with CNBC Make It, Bose stated that the inspiration for Zilingo came in quite an unexpected way. While on holiday in Thailand, she visited Chatuchak market, one of the world's largest weekend markets which accommodates thousands of independent merchants. As a fashion lover, Bose was mesmerized by the variety of unique styles and pieces being sold at the stalls, and immediately thought that the merchandise should be available online. However, it dawned on her that these merchants did not have proper access or the necessary resources to do so. That was her Aha! moment. Having worked as an investment analyst for Sequoia Capital, at the time, Bose was well equipped to break into the world of entrepreneurship, but was lacking the technical knowledge and skillset to manage the operational aspects of the business. That was when she met Dhruv Kapoor, a software engineer who showed up at her flat one day to drink beers, as her neighbor, but left as her new business partner, ready to embark on a new mission. Within six months, the duo quit their jobs — convincing a few friends to follow suit — pooled together roughly $30,000 and worked relentlessly to bring Zilingo to life. Today, the Singapore-based company has become a global phenomenon racking up more than 7 million active users. Not only does the company offer their audience the opportunity to shop at Chatuchak from anywhere in the world, but it grants roughly 27,000 merchants, in 15 regions, the ability to enter new markets and scale their businesses. Despite all this newfound success, Bose hasn't been one to revel in "glamorous labels." She is indeed proud of her success, but is more focused on inspiring women, especially in India, to break into tech and entrepreneurship. "One of the things that we didn't have as much, growing up, was role models in tech and new innovative industries and we want to make sure that the next generation doesn't have that problem," said Bose. In 2018, India ranked 52nd out of 57 countries in Mastercard's Index of Women Entrepreneurs. The study concluded that Indian women business owners were less likely to grow their businesses and were more willing to discontinue them than female business owners in other countries. India's ranking does not come as a surprise given the lack of opportunities for business leadership and female inclusive roles within the country. In response to India's ranking, Manasi Narasimhan, Vice President of Marketing and Communications at Mastercard, explained that because markets like India are less wealthy and developed than their counterparts, they tend to fall short in establishing conditions for female advancement as entrepreneurs. Narasimhan stated that, "India needs to cultivate an environment where women have higher participation in the workforce and access to tertiary education and financial services." This includes changing the perception and biases against women within the workforce, providing basic financial services along with support from their companies, and most importantly, supporting female owned businesses while encouraging more women to take on entrepreneurial positions. One of the ways in which Bose has been doing her part to change the dynamics for women in the workplace, is by ensuring that Zilingo is a 50% female company with 50% female leadership. While Bose admitted in an interview with CNBC that she was fortunate enough to have found a male business partner and team members who have supported her ambitions regardless of her gender, she was well aware that that is not reality for all women — especially throughout Asia.

"I was phenomenally blessed to have a team of mentors, team of guides that would think of me quite genderlessly. I really want to see that happen with a lot of women, and I know that it doesn't," Bose told CNBC. As important as it is for women to take on more leadership roles in tech and entrepreneurship, it is as equally important for women to know the value of their work and their business. In the workforce, men are anything but reserved when negotiating for higher salaries and positions. However, women often undersell themselves and accept what they get without ever taking the risk to confidently ask for what it is they desire. Having previously managed women, Bose has witnessed this sort of behavior numerous times. "I've had situations where I've gone into negotiations with women saying 'you're asking for too little, don't you know what you're worth?'" For Bose, change will certainly come once there is enough women leadership positions and once men support their female colleagues. There is also much work to be done in getting women the necessary resources needed to pursue careers in tech and entrepreneurship. However, Bose continues to do her part by encouraging women to seek out new opportunities while giving them a platform, through Zilingo, to begin their entrepreneurial pursuits. According to Leanne Robers, founder of She Loves Tech, Bose is exactly the role model that modern day girls and women need to see. She compares Bose's accomplishments to that of Roger Bannister, a British athlete who, at the time, did the impossible by completing a mile run under four minutes. The moment Bannister broke this perceived barrier, it opened the door for other athletes to accomplish similar or even greater feats. "In the same way that Bannister broke barriers for runners, I hope Ankiti will do the same for women and encourage more women to enter into entrepreneurship — especially in Asia," said Robers. Bose's success as co-founder of Zilingo has not only changed the lives of thousands of merchants who have been given the opportunity to grow their businesses, but proves to women everywhere that it is possible to become a successful female entrepreneur as long as you work hard and believe in yourself, and your vision, every step of the way.


WRITTEN BY

Shivani Mangar