Telangana becomes first state to get NITI Aayog’s Women Entrepreneurship Platform chapter

It is designed to foster entrepreneurship among women by offering customised support such as digital skilling, access to financial services, mentorship and market linkages

Telangana has become the first State, in the country, to get a chapter of NITI Aayog’s Women Entrepreneurship Platform (WEP).

An initiative to promote and support women entrepreneurs across various sectors by providing them access to resources, tools and a network for enhancing their business growth, WEP thus far remained a scheme operated by the Centre.

Customised support

The WEP Telangana Chapter was launched in Hyderabad on Tuesday by NITI Aayog CEO BVR Subrahmanyam in the presence of State IT and Industries secretary Jayesh Ranjan and co-chair of WEP Sangeetha Reddy. It is designed to foster entrepreneurship among women by offering customised support such as digital skilling, access to financial services, mentorship and market linkages, WE Hub — which will be the nodal body for the scheme in the State — said in a release.

WE Hub, a first-of-its-kind incubation centre in India exclusively for women entrepreneurs, will act as the central body responsible for implementation and management of this platform, leveraging its expertise and extensive network in empowering women entrepreneurs.

Key to economic future

Mr. Subrahmanyam underscored how women entrepreneurship is key to India’s economic future and the State Chapter is poised to significantly enhance opportunities for women. He highlighted the need for such initiatives considering multiple challenges women entrepreneurs face, especially in terms of finances, mentoring and marketing. The base WEP and the State Chapters will provide is bound to help elevate SHG women businesses and build high quality brands through the platform.

Plans to expand

Principal Economic Advisor to NITI Aayog and WEP mission director Anna Roy said the power of motivation, knowledge and action are pillars of WEP to empower women entrepreneurs. There are plans to expand to tier 2 and 3 cities through the WEP in States initiative, partnering with States to build an inclusive entrepreneurial ecosystem. Such a hub-and-spoke model will create a thriving support system for women entrepreneurs, she said.

WE Bridge

Mr. Ranjan said WE Hub CEO Sita Pallacholla will be the mission director of WEP Telangana Chapter. “Due to Telangana’s track record of support system for entrepreneurship in SHGs, the State innovation ecosystem and incubators at academia institutions, WEP chose Telangana as the first State Chapter, he said, presenting ‘WE Bridge’, a single window platform for women entrepreneurs across the State.

“The partnership with NITI Aayog through the WEP Telangana Chapter will enable us to bring more opportunities for women, helping them access funding, technology and networks to grow their businesses,” Ms. Pallacholla said.

Stressing on the importance of mentoring, Ms. Reddy said “mentoring is crucial for the success of any business.”

WEP Telangana Chapter objectives:

Empower women entrepreneurs with critical skills in digital technology, financial literacy and access to funding through collaborations with financial institutions and fintech partners
Connect women entrepreneurs with industry leaders and experts to guide them through their entrepreneurial journey, offering mentorship in business development, marketing, and scaling
Facilitate market access by linking women entrepreneurs with potential investors, industry partners, and new business opportunities through WE Hub’s network

Published - October 01, 2024 04:28 pm IST