31% founders in India experience imposter syndrome, finds survey

The survey was conducted on 120 entrepreneurs in India. (Representational image)

A recent study conducted on the mental well-being of startup founders in India has found that 31 percent of entrepreneurs have been experiencing imposter syndrome. It means that they have had persistent self-doubt and feelings of inadequacy despite evidence of their competence and success.

The report—prepared in collaboration with INK, Tie Global Summit, Upekkha, and NSRCEL cell of IIM Bengaluru and emotional wellness platform YourDOST—was compiled after analysing responses from 120 entrepreneurs mostly in the age bracket of 30 to 40 years. It stated that early-stage founders reported significantly higher levels of stress and self-doubt.

"In a landscape where 68 percent of Indian entrepreneurs report experiencing severe stress (ASSOCHAM, 2023), and startup founder burnout contributes to nearly one-third of venture failures, understanding the emotional wellbeing of founders has become critical to India's entrepreneurial success story," the report stated. "We found that 31 percent of entrepreneurs reported high imposter syndrome, highlighting a significant psychological challenge within the entrepreneurial community, where self-doubt can persist despite tangible achievements."

In the survey, 30 percent of the participants chose an option that said: "I often feel like I don’t deserve
the success I’ve achieved in my business, even though others see me as successful." When asked if they wake up "feeling fresh and rested”, 40 percent of entrepreneurs said they did not.

Forty-six percent of the participants were between 30-40 years of age while about 20 percent were under 30 and in the age group of 41 to 50.

Meanwhile, women entrepreneurs demonstrated a notably stronger emotional well-being profile, with 68 percent reporting high well-being as compared to 55 percent of men. "This gender disparity aligns with findings from Gorgievski & Stephan (2016), suggesting that women entrepreneurs often develop more effective emotional regulation strategies and support systems," the report stated, adding that the data highlights a significant aspect of men's mental health—the stigma associated with it. "This
could be attributed to societal expectations that discourage men from expressing vulnerability or seeking
emotional support, a well-documented issue in mental health discussions."