Joy of Women Entrepreneurs

I recently watched the movie Joy on Hotstar. I had previously seen the trailer of the movie but didn’t pay any attention. I wasn’t really impressed by the trailer and knew nothing about the story. In addition, this movie was not that highly rated. Rotten Tomatoes gave this a review rating of 6.3/10 only.

Luckily I got some free time on a cold Sunday evening and decided to check this movie out. And I was in for a surprise.

The movie is based on the struggles of Joy Mangano, the inventor of the now famous Miracle Mop. A 33-year-old divorced mother of 2, working as a booking clerk in Eastern Airlines. She is in a dead-end job, living with her divorced parents and children. Her husband and thrice married father end up living in the basement with her. She is broke, frustrated and has almost given up on all her dreams. The only person is Joy’s grandmother who keeps her hopes up.

Inspite of a not so supportive family and no money, Joy gets unexpected help from her ex-husband, her longtime friend and a TV executive who places faith in her

Although parts of the movie has been changed, overall the story is very inspiring. It clearly deserved higher ratings than it got from reviewers

Joy Mangano

Joy Mangano

Here’s the original miracle mop infomercial with Joy Mangano on QVC :

This was a rare movie on a real woman entrepreneur. I think this might just be only movie of its kind.

There was a scene in the movie near the end, where Jennifer Lawrence as Joy Mangano is shown to have become a matriarch of the business and is investing in other women inventors/entrepreneurs. She says to a new mother who had come to show her invention, that she knows what its like to sit on the other side of the table. That scene stayed with me for a long time as it showed what is missing in the startup-world.

Apart from the western world, women are choosing the entrepreneurial struggles increasingly in China & India. But in India & to some extent in the west, there has always been a lack of existing women entrepreneurs acting as investors in other women entrepreneurs.

A bloomberg article, threw light on the changing dynamics in China where women are dominating the Venture Capital Industry. This includes the largest VC firmed with capital of over $500 million – H Capital founded by Chen Xiaohong

In the US, women make up about 10% of the investing partners and only half of the firms have any women as partners. China, on the other hand, has 17% female investing partners and more than 50% of the VC firms have at least one female partner. More than a quarter of all entrepreneurs in China are women, and 55% of new Internet companies are started up by them according to the Chinese Government. China is showing the example we should follow the lessons learnt from their experience. And this in country where sections of the society consider single women above the age of 27 as “Leftover women

The situation in India is extremely bad. All the major VC firms combined, I think there are only 2…..and I mean really, only 2 women investing partners. One is Vani Kola from Kalaari Capital and other is Bharati Jacob from Seedfund.

There are many reasons. There are fewer number of women in startups. women entrepreneurs who have exited successfully is also very low. Even women corporate executives with deeper pockets have shied away from entering into the VC world. Although, India is considered to be an entrepreneurial country, major women players have traditionally shied away from risk taking through Angel & VC investments in the startup world.

Ravi Singh

Author: Ravi Singh

I am an MBA grad working as a Consultant in an IT firm. You will always find me with a book or a Kindle in my hand during my spare time. Topics of interest: Tech news, Foreign Policy & Economics. Wannabe Entrepreneur!!

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1 Comment

  1. Awesome article Thanks for sharing.

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