IIM Bangalore empowering women with Startup Program

Here comes the big news on women empowerment from IIM Bangalore. WEConnect International’s Think Big Summit was held recently where an announcement was made on the stepping stone to encourage aspiring women entrepreneurs who are willing to have their own start-up. The launch of Women Startup program was announced by The NS Raghavan Centre for Entrepreneurial Learning (NSRCEL) at IIM-B. The cause is being supported by one of the leading investment bank Goldman Sachs. IIM-B has also got its support from the Government of Karnataka.

Highlights of the program:

  • To encourage women entrepreneurs to own a business for better growth and development of the society
  • No fee will be charged for attending the program
  • There will be a three-phase of online and classroom training module
  • Entrepreneurial as well as managerial skills will be taught to the future women entrepreneurs

How does the three phase look like?

While all the details are available on official website, this is how the phases look like.

Phase one: The first phase is a five-week long program that will provide online learning modules to the young and aspiring women entrepreneurs from all over India. In this phase, women will learn about business ideas by way of lectures and sessions which will be more interactive with peer to peer interactions and opportunities of interviews with already established entrepreneurs. After the successful completion of this phase, few of them will be eligible for the next phase.

Second phase: The top 50 qualifiers from the first phase will have to undergo a three-week program where they get the opportunity of being on the campus of IIM-B from January to February. This duration will ensure the business expertise is acquired while working on their business ideas simultaneously. In this duration, they will interact with the alumni, faculties and develop their core strength of getting into the business. Startup events hosted by IIM-B regularly will be attended by the lucky 50.

Third phase: Out of the 50 qualifiers, only 12 will be selected for this phase. These 12 will go through an incubation period at NSRCEL for 12 months where they will learn more on business skills and techniques. After successful completion of 12 months, the ones selected will be based on certain criteria. They will get a fund of 25 lakhs for their venture.

Apart from helping startups like Mango Technologies, Amagi, Just Books and PParke, the center NSRCEL has the reputation of assisting many women entrepreneurs grow in the past. A few to name are Babitha Jaishankar of Wsol, Meera K of Citizen Matters, Aparna Sharma of Minjar, Priya Maheshwari of Properji (acquired by Magic Bricks) and Malini Gowri Shankar of F5 Travels.

Goldman Sachs has been a philanthropist for long. Sonjoy Chatterjee, Chairman, and Co-CEO of Goldman Sachs (India) said, “As a firm, through the 10,000 Women initiative, we have long invested in the potential of women entrepreneurs to fuel economic growth and help build stronger communities globally. In India, we are pleased to extend that learning and support to IIMB’s Women Startup Programme.”

The names associated with the initiative by IIM-B definitely give a ray of hope in the growth and development of women in our country and it will be the start of the golden era.

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