Rajasthan And Telangana Government Announces Fund For Women-Led Startups

GES Summit 2017
AP Photo

Rajasthan is now turning into a hub of start-ups which will witness women in the domain. Recent developments have converted this state into a paradise for entrepreneurs, incubators, etc.

“We will fund for women startups,” quotes Rajasthan CM Vasundhara Raje at Rajasthan Digifest 2017. The government has announced a special fund for startups led by women with the intention to encourage them as entrepreneurs. The platform is intended to foster innovation, create jobs and facilitate investment.

The newly hurled fund is in addition to a Rs 500 crore already set-up for startups. The “iStart platform” was launched in August 2017 in the last Digifest held in Kota. It aimed to facilitate entrepreneurship and job creation in the state.

In addition to this development in northern India, the recently concluded Global Entrepreneurship Summit 2017 in Hyderabad witnessed US President’s daughter and Advisor Ivanka Trump striving to promote greater opportunity for women around the world. “Our administration is striving to promote greater opportunity for women around the world, both through our domestic reforms and our international initiatives,” she said.

Following the guidelines, the Telangana government announced the setting up of India’s first government-backed venture fund to support women startups. The government will set up a center called ‘WE-Hub’ to support women entrepreneurs and procure goods made by them. Thi fund will have an initial amount of Rs 15 crore, which will invest in women-led startups ranging from Rs 25 lakh to Rs 1 crore in each enterprise.

“Following representations from women entrepreneurs, the state government has encouraged setting up of three exclusive industrial parks for them. And now, we have decided to set up WE-Hub, whose modalities would be worked out soon,” state Information Technology Minister KT Rama Rao said.

The government, in order to procure its requirements from the women entrepreneurs, will take a policy decision. Telangana government has also decided to appropriate a quota in government acquirement. At least a fourth of procurement will henceforth be made from the women-run marginal, small and medium enterprises (MSMEs). The minister’s announcements came at the close of the GES 2017 whose theme was ‘‘Women First, Prosperity for All.’

NITI Ayog CEO Amitabh Kant also announced that these initiatives will partner with the Atal Innovation Mission of the government. The start-up accelerator ‘T-Hub’ is situated in the International Institute of Information Technology campus in Hyderabad.

Earlier Amazon India also announced the launch of ‘The Saheli Store’ on its platform, which is a dedicated store for women entrepreneurs of the country to sell their locally produced products online. “In collaboration with organisations that work to encourage women entrepreneurship, the program is in line with Amazon India’s vision,” said Amazon.




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