For centuries, women have fought for equal rights: the right to drive, vote, earn, and divorce. In 2024, gender equality is an area of focus on most policy agendas, in economic study, and even on the United Nations’ sustainable development goals. But progress, though consistent, is slow: fundamental social barriers, technological changes and labour trends mean that only 25% of working age women participate in the formal workforce, compared to 76% of men in South Asia. The World Economic Forum predicts it will require another 149 years to bridge the gender gap in the region. 
 
These trends reflect in entrepreneurship and raising capital, too. As Sylvana Sinha, founder and CEO of Praava Health, succinctly puts it, “There is a confluence of economic, health, educational structures working tirelessly to uphold a patriarchy that does not privilege women.” The MasterCard Index of Women Entrepreneurs, which measures how women are making headway in business world over, places India 57th and Bangladesh 65th of a total of 65 countries. In South Asia, there are several roadblocks for women when it comes to becoming successful in business. Sinha has also pointed to the lack of female role models in business growing up, and the unequal standards in questions asked by investors she faced while raising capital. According to several studies, women are afforded less capital, fewer networking opportunities, and lack of mentorship in their entrepreneurial careers. In India, women receive less than 5.2% of the credit allocated to private enterprises by Indian public sector banks, which has created an unmet credit gap greater than $11.4 billion.

There is also the enormous care burden that women face. Ashu Suyash, co-founder of Colossa Ventures, points out that “[w]e tend to ignore the caregiving aspect of every woman, which is a very very material activity which doesn't get recognized.” She has highlighted having to juggle her position as CEO at one of India’s leading analytics companies with her child’s board exams; and concerns that maternity leave would negatively impact her career trajectory. According to the ILO, 76.2% of total unpaid care work is undertaken by women, which is 3.2x more than men. Economist Claudia Goldin has pointed out the historical nature of women’s unpaid work: as societies industrialise, women have had to engage in unpaid care labour, keeping them away from the public sphere in a pervasive system that restricts women’s economic participation.  
 
In this world of restrictions, unequal expectations, and societal pressure, how can women build thiriving and fulfilling careers running their own enterprises, and what needs to fundamentally change to allow more women into the fold? In the second conversation in our Women in Governance series, Ashu Suyash will be in candid conversation with Sylvana Sinha. The two speakers will explore changes in the private sector across India and Bangladesh, where they respectively work; what more needs to be done to level out the gender gaps, particularly in accessing capital and in helping businesses grow and scale; and what they imagine the future of women in the workforce is in South Asia.  

SPEAKERS 

Ashu Suyash is the founder and CEO of Colossa Ventures. She is a successful leader with over three decades of experience in Indian financial services and the global information    services sector. She is currently the Founder & CEO of Colossa Ventures, a unique investment ecosystem that powers women entrepreneurs and women-focused businesses with capital, capability, and confidence building. Colossa's first fund, Colossa WomenFirst Fund, aims to invest in disruptive, category-defining, scalable businesses founded/co-founded by women entrepreneurs. 

Prior to setting up Colossa, Ashu was the managing Director andCEO of CRISIL (2015-2021) and a member of the Global Operating Committee of S&P Global Inc. She was instrumental in CRISIL's transformation from an analytical services company to a leading global data analytics and solutions company.  

Ashu's previous roles were as CEO of L&T Investment Management and L&T Capital Markets, and as the Country Head and Managing Director of Fidelity's Indian Mutual Fund Business, a business she helped set up and grow. She started her career with Citibank India, where she held several key positions in the corporate and investment banking group. Ashu is also an independent director on the boards of Hindustan Unilever, Kotak Mahindra Bank and the governing board of the National Institute of Securities Markets.Ashu has received several awards and has been recognised among the Top 50 Women in Business in India and Asia. She is a chartered accountant and holds a bachelor's degree in commerce from the University of Mumbai. 

Sylvana Quader Sinha is the founder and CEO of Praava Health and a member of the Board of Directors of PATH.org. Launched in 2018, Praava Health has become one of the fastest-growing healthcare providers in emerging markets, having already served more than half a million patients to date in Bangladesh. Praava's unique click-and-brick platform that combines innovative digital health offerings - including remote care management - with a full suite of quality in­person patient care services can serve as a model for healthcare providers in other emerging markets and beyond.

With decades of experience leading teams in international law, business, development, and government relations at major international management consulting firms and think tanks, she has also independently advised private and sovereign clients on investments, projects, and disputes in the Middle East, Africa, and South Asia. Sylvana is a Life Member of the Council on Foreign Relations. She is a graduate of Columbia Law School, Harvard's Kennedy School and Wellesley College, and was a Visiting Scholar at the University of Oxford.