AC Ventures, Boston Consulting Group (BCG), and Stellar Women have unveiled a new whitepaper titled “Closing the Funding Gap for Women Entrepreneurs in Indonesia”. The report was launched at an exclusive event hosted at AC Ventures’ headquarters in Jakarta, bringing together leading female founders, investors, and stakeholders to address the challenges and opportunities for women entrepreneurs in Indonesia.
This latest whitepaper marks the second collaboration between BCG and Stellar Women. While the first edition focused on building foundational strategies to support women entrepreneurs, the latest report dives deeper into the persistent funding gaps hindering their growth. It highlights systemic barriers, including limited access to capital, societal biases, and a lack of mentorship opportunities. Despite these challenges, women-led businesses have consistently demonstrated their ability to drive economic growth and deliver strong financial returns.
Indonesia faces a glaring funding gap of US$1.7 trillion, as outlined in the report. The study also reveals that empowering women entrepreneurs could significantly contribute to global GDP growth and human capital wealth.
A call for systemic change and collaboration
Samira Shihab, Principal at AC Ventures and Founder of Stellar Women, underscored the importance of addressing these challenges. She stated, “Empowering women is not just a mission. It is imperative for a brighter, more equitable future. At AC Ventures, we are proud to support initiatives like this one that drive systemic change. Our commitment to empowering women entrepreneurs is central to our investment approach, and this whitepaper aligns perfectly with our mission to foster gender-inclusive growth in Indonesia’s entrepreneurial ecosystem.”
AC Ventures’ 2024 Impact Report shows the firm’s dedication to gender diversity, with women co-founders in 40% of its portfolio companies and half of its senior leadership roles held by women. Additionally, 40% of jobs within its portfolio companies are led by women, highlighting the firm’s ongoing efforts to create an inclusive entrepreneurial ecosystem.
The event featured a panel discussion with influential figures, including Lenita Tobing, Managing Director & Partner at BCG; Sreejita Deb, Co-Founder and CEO of Raena Beauty; Marcella Moniaga, Co-Founder and CFO of Astro; and Debora Gondokusumo, Co-Founder of Stellar Women and CEO of Herbiology.
Lenita Tobing shared, “At BCG, we are deeply committed to breaking down barriers and empowering women to unlock their full potential. This second edition of our collaboration with Stellar Women goes deeper into understanding the funding gaps that hinder progress. Through our research, we’ve identified actionable insights and solutions for stakeholders. Women-led businesses hold extraordinary potential to drive economic growth, and building a sustainable, inclusive ecosystem for these businesses will benefit society at large.”
Key findings and actionable recommendations
The report identifies five major challenges women entrepreneurs face in securing funding. These include limited networking opportunities, difficulties in creating investor-aligned pitch decks, and a lack of tailored financing information. Gender bias and a mismatch between women-led business models and investor criteria further amplify these challenges.
To address these barriers, the whitepaper outlines three essential pillars for progress:
- Governments and organisations must provide mentorship and knowledge-sharing platforms tailored to women entrepreneurs.
- Women entrepreneurs need to actively engage in self-development and strengthen their understanding of funding mechanisms.
- Entrepreneurs should proactively seek funding options that align with their unique business models.
Samira Shihab emphasised, “Gender diversity isn’t just a value. It’s a catalyst for economic and social progress. Through events like this and partnerships with BCG, Stellar Women, and AC Ventures, we are working to bridge systemic gaps and unlock the immense potential of women entrepreneurs.”
A blueprint for an inclusive future
The whitepaper serves as a call to action for governments, investors, and businesses to collaborate in building a more inclusive entrepreneurial ecosystem. It provides clear recommendations and insights into overcoming funding challenges, empowering women-led businesses to thrive and contribute significantly to Indonesia’s economic landscape.
By addressing these funding barriers and driving systemic change, stakeholders have the opportunity to create a future where women entrepreneurs are not just included but are central to driving sustainable growth and innovation.
