The real growth gap for women founders is rooted in visibility

It is tempting to believe that in business, good ideas speak for themselves; that if a product or service is compelling enough, the market will eventually recognise and reward it. After nearly two decades working in and around entrepreneurship, however, Megha Singh, the CEO of The Launchpad, an entrepreneur community, has come to believe otherwise. This inspired the creation of the Makers & Shapers awards, which centres women founders to encourage visibility and recognition of women-founded businesses and close the commercial gains that emerge from it.

Singh has spent years working alongside founders in the earliest stages of building their businesses. Over time, she noticed a recurring pattern: high-integrity companies creating real impact often struggled to gain traction, recognition, or momentum when founded by women — particularly in comparison to their male counterparts. While it is easy to dismiss this as coincidence, Sing’s years of experience gave her the evidence that this was a structural issue.

That observation became the impetus for Makers & Shapers, a platform co-founded by Singh and Rebecca Downie, head of Singapore. This May, Makers & Shapers has launched a brand new awards programme designed to recognise women-led businesses in Singapore. With these awards, the initiative seeks to spotlight founders whose leadership, creativity, and values are reshaping industries, but who may not have mainstream recognition. 

More than a symbol

Although it is easy to view recognition as symbolic, a nice-to-have rather than a meaningful business advantage, Singh argues the opposite.

“Women-owned SMEs in Singapore in general experience lower sales turnover growth in the initial years compared with male-owned counterparts,” explained Singh. “Research and anecdotal evidence point that it is certainly not a product quality gap, but a structural gap: a lack of access to networks, capital and credibility signals.”

“What I’ve seen through Launchpad is that a brilliant product still has to be allowed entry into the room. Recognition from a credible platform — one with no entry fee, no popularity voting, judged by people with real standing in their industries — creates the kind of social proof that genuinely opens those doors.”

Visibility has a direct impact on a business’ success. Above all, it grants a business credibility, which can open doors for commercial growth, investments, partnerships and other such opportunities.

On a more individual scale, recognition can also greatly aid founders themselves. Singh has observed that female founders tend to downplay their work, be it through charging a lower value, avoiding coverage, or self-sabotaging when they receive opportunities because of their perception of their own worth.

A new kind of award

With these aspects inmind, Makers & Shapers awards were weeliberately designed to be transparent and merit based. Unlike traditional awards programmes, which often privilege scale, popularity, or paid participation, the platform removes entry fees, public voting, and campaign mechanics. Winners are selected on merit by an independent judging panel comprising leaders from across business, technology, and the creative industries.

Furthermore, rather than focus solely on growth metrics or revenue milestones, the inaugural Makers & Shapers awards places emphasis on other attributes, such as resilience, community impact and ethical leadership. These qualities are traditionally undervalued in conversations around start-ups, particularly as commercial indicators get prioritised. 

However, Singh believe that these are stronger indicators of long-term founder success. This philosophy has inspired categories such as Overcoming Adversity, alongside less conventional honours including the Kindest Business, Voice of Influence and Impact Awards. These awards will be announced on 21 May.

“The philosophy at the heart of Launchpad is what I call ‘kind entrepreneurship’, the belief that founders can build strong, scalable businesses without cut-throat competition or personal burnout, and that growth can happen collaboratively rather than competitively,” Singh says.

“The founders we’re recognising through Makers & Shapers have built businesses around that belief. They tend to retain talent better, build deeper customer loyalty, and create ripple effects — through mentorship, collaboration, and sustainable practices — that extend far beyond revenue.”

This approach also reflects broader data on how women-led businesses operate. Singh points to research from the Singapore Business Federation indicating that women entrepreneurs tend to reinvest 90% of their earnings into their communities, generating wider economic and social impact beyond their own firms. This alone provides a powerful argument for spotlighting women.

Beyond the ceremony

While early-stage entrepreneurs often benefit from a robust ecosystem of networking events, workshops, and masterclasses, support tends to taper off once businesses move beyond their infancy, precisely when strategic relationships and industry credibility become most valuable.

Her ambition is for Makers & Shapers to evolve into a lasting platform and alumni network, connecting recognised founders not only to one another, but also into Launchpad’s wider ecosystem across Singapore and regional markets including Kuala Lumpur, Hong Kong, and Manila.

In time, she hopes the community itself becomes a mark of credibility: a network of founders whose recognition by Makers & Shapers carries weight well beyond the awards ceremony.

“What ties everything I do together — Launchpad, my coaching and consulting work, my role as a trustee of the Swayam Foundation in India, even the book I’m currently writing — is a commitment to ensuring that the next woman who comes after me doesn’t have to fight as hard for the room, the credibility, or the confidence that I earned the harder way,” Singh says. “If Makers & Shapers gives even a handful of founders that — if it shortens their journey to being seen and taken seriously — then it’s worth every bit of the work.”