Abstract
The COVID-19 pandemic has affected women disproportionately, with
women-led businesses suffering an economic blow and decades of progress that had
been made towards gender equality being erased. As per the UN 2030 Agenda, one of
the ways to address global challenges like poverty and foster prosperity (SDG 5 & 9) is
to put greater focus on catalyzing innovative entrepreneurship among women. The
resultant economic empowerment will pave the way for greater gender equity. Recent
literature in this field has highlighted a lacuna for additional support for women-based
enterprises in order to recover from the impacts of the pandemic and resume their
operations. Such support could be provided in the form of stimulus funding or
government grants and financing provided by the private sector. Additionally, capital
should be provided to innovate and implement modern technologies and skill
advancement programs to help these enterprises gain a competitive advantage. Such
initiatives are crucial in order to provide active support to nurture the projects that can
aid women entrepreneurs in adapting to new technologies, develop digital literacy, and
access financial support and capital in order to run their businesses. Particularly from
the lens of Industry 5.0, this study takes a hard look at honing down the key factors that
can contribute toward fostering an environment of innovation among women
entrepreneurs. Additionally, this study provides insights into the relevant literature with
a specific focus on future research opportunities using a literature review approach
covering 40-50 literature reviews, as well as identifies expository aspects that can
promote the revolution navigated by female entrepreneurs.