Purpose - The purpose of this research is to deepen our knowledge and understanding about women’s entrepreneurship in developing countries. The research intends to study impacts of individual and institutional factors on motivation for entrepreneurship in women.

Methodology/approach - A qualitative research, where primary data was collected by semistructured interview. Total of 6 women from Mongolia and Thailand were interviewed. Transcripts of interviews were read and re-read, coded by using Gioia’s methodology, and main themes were determined. Empirical evidence-Interview results indicate that institutional factors in Mongolia and Thailand create unstable and challenging environment in general, and they have a negative impact as well as a trigger effect on the motivation for entrepreneurship. Main challenges women face are caused by cultural perceptions about women, and it is suggested to take actions to promote empowerment and support from policy makers and financial institutions.

Research limitations - The scope of research was limited in terms of sample size and volume of primary data collected. 

Implications - Further study on women’s participation and empowerment in politics, women empowerment in the business sector, and financial instruments and solutions for supporting woman owned start-ups are suggested for each country.