I think it has more to do with socio-economic background than your race/gender/ethnicity etc by default. You used the example of Indian markets. If you look at who the founders are, most of them are middle-upper middle class where they don't have to worry about basic needs on a daily basis. Again, I am sure you can find the rags to riches story anecdotally but running a business myself (non white male founder), I can tell you that socio-economic status helps tremendously. Yes, you can still start a SAAS business regardless due to lower barrier to entry but you are only thinking about servers/software type of cost and not the opportunity cost that most lower middle class to poor people have to give up on.

It almost always comes down to your socio-economic status and I am in the "big risk taker" group. When I started my business, I could totally risk not working for a year or two without it causing significant damage to my family's socio-economic status/needs. Yes, my income went down significantly and it was still a risk but a heavily calculated one. Even if the business failed, I would be able to get back to the corporate life easily since I had put in 10+ years of experience by that time and had financial stability to do this.