Jan 23, 2025

New Delhi, 23 January 2025: Four Indian startups– Aica Health, Dzylo, MAMMA-MIYA and Tech4Good Community have made it to the longlist of the coveted Aurora Tech Award. The Aurora Tech Award is an annual award and a non-profit initiative of inDrive, a global mobility and urban services platform, spotlighting the boldest and most ambitious female founders in emerging markets. The longlist featured a total of top 120 founders for 2025. The number of top finalists is set to be announced in February 2025, with winners celebrated at a global ceremony later in the year. Founded by Manishaa Soin, Aica Health is a health-tech startup leveraging AI-powered assistance to manage chronic medical conditions and enable coordinated geriatric care at home. Dzylo, with Anita Tailor as one of co-founders, is an all-in-one AI- powered SaaS platform to empower interior designers and build businesses. Similarly, MAMMA-MIA also leverages AI-powered co-pilot to bridge moms’ productivity and well-being needs. Tech4Good Community featured in the list for developing Flake, an open-source data management platform for non-technical users, enhancing NGO tech capabilities. This year, the award saw a record-breaking 2,018 applications from 116 countries, doubling last year’s submissions. The initiative also garnered increased support from venture capital firms, with the number of VC partners rising from 23 to 35. Notably, this year’s list includes new partners from Egypt, Brazil, and Pakistan, underscoring the growing global recognition of the award and its mission. “The Aurora Top 120 is a first for us this year, created from a three-month open call that attracted over 2,000 applications from female founders. Through a rigorous selection process, we’ve identified 120 standout women entrepreneurs who are building bold and innovative businesses in emerging markets. These founders are poised to shape the future of their industries and countries, making them the ones to watch in 2025”, said head of the Aurora Tech Awards Isabella Ghassemi-Smith. Healthtech emerged as the leading sector among Aurora’s Top 120, showcasing a global emphasis on innovation in healthcare, with 30 startups operating in this field. Additionally, agritech and edtech remained highly relevant, while the e-commerce landscape appears to be evolving into more dynamic marketplace models. There are only a few startups in the renewable energy sector—one from Colombia and another from Iraq. Most of the HR tech startups come from Brazil, followed by Singapore in second place, with one from the UK. The growing participation of women in entrepreneurship marks a significant global trend. According to the Global Entrepreneurship Monitor (GEM), women’s startup activity rates rose from an average of 6.1% (2001-2005) to 10.4% (2021-2023) across 30 countries. Emerging markets demonstrate even stronger momentum. Research by WE-FI reveals that 17% of working-age women in developing economies are already entrepreneurs, with 35% aspiring to join them. In contrast, high-income countries report just 9% engagement and 14% aspiration rates. This shift has attracted global VC interest in emerging markets. In 2023, emerging economies received 17% of global VC investment, underscoring their resilience. Firms such as Tiger Global and Sequoia Capital continue to invest in startups across India, Latin America, and beyond, driving substantial growth. Startups founded or co-founded by women also outperform their male-led counterparts in revenue efficiency. Research by BCG shows that female-led startups generate 78 cents of revenue per dollar of funding, compared to just 31 cents for male-led ventures. Over a five-year period, they also achieve 10% higher cumulative revenue—$730,000 versus $662,000 (MassChallenge 2019). On a local scale, women-owned businesses fuel economic development and inspire future generations. Reports from ProMujer highlight the critical role female entrepreneurs play in strengthening communities and breaking barriers, reinforcing their long-term societal impact. The Aurora Tech Award celebrates the boldest and most ambitious female founders in emerging markets, offering more than just recognition. It provides access to expertise, resources, and transformative opportunities to scale their businesses and shape the future. Award applicants gain mentorship, guidance on fundraising and pitching, support in preparing pitch decks, and validation of their efforts. They also connect with investors, VC funds, and PR support, opening doors to valuable networks and resources to drive their success.