Institutions Helping Women Startups

This year 27 startups of varying segments crossed the billion-dollar mark and entered the unicorn club. However, only one of them is a woman-led startup to cross the threshold.

Although, it is to be noted that there are a plethora of factors why women had a delayed entry into the Indian startup ecosystem. One of the reasons for this is that there were insufficient female entrepreneurs to show that women could create and scale a firm from scratch, which discouraged investors from investing in women-led businesses. Now with the emergence of strong firms such as Bumble and Nykaa has prompted investors to place a greater emphasis on women-led startups.

Source: news18

But as they say it is never too late to start, so let’s take a look at institutions and organizations established to help empower women entrepreneurs.

SIDBI

Small Industries Development Bank of India (SIDBI) is a national agency that provides resources to help small businesses flourish. SIDBI launched two special schemes for women who run small businesses: Mahila Vikas Nidhi and Mahila Udyam Nidhi. These schemes for women entrepreneurs offer equity and development assistance.

Besides these SIDBI also launched schemes like Marketing Development Fund for Women, Micro Credit Scheme and Women Entrepreneurial Development Programme to provide assistance to women entrepreneurs. SIDBI helps women develop startups in the fields of weaving, spinning, embroidery, knitting, and block printing by offering financial assistance.

SIDO

Small Industries Development Organization’s (SIDO) primary objective is to provide a variety of programmes, including a Women's Entrepreneurship Development Program.

This organization has implemented a number of development programmes in the domain of leather goods, television repair, screen printing, and circuit board assembly.

CWEI 

Consortium of Women Entrepreneurs of India (CWEI) is a non-profit organization made up of NGOs and small businesses. CWEI was founded in 2001 with the primary goal of giving technology advancement opportunities to women entrepreneurs. It assists in the areas of marketing and export support, in addition to providing technological upgrades.

WIT

In 1968, a promoter Kamila Tyabji took the initiative to launch Women India Trust (WIT). The goal of this trust is to assist female entrepreneurs. Kamila Trust's founding in the United Kingdom has made it easier for its members to advertise their products in London. It has also provided assistance to countries such as Europe, Australia, and Germany in terms of exports.

Womennovator

Womennovator was founded in 2014 as a virtual incubator to assist female entrepreneurs in realizing their business ideas. Their defining trait is that they are not only a virtual incubation facility, but also a supporting community of women.

In India, women-only incubation centers are scarce. Incubation centers may not be able to solve all of the problems that women confront during their entrepreneurial journeys on their own, but they are an important component of the startup ecosystem.

SEWA

Self Employed Women Association(SEWA) is a women's trade union that was established in 1972 under the Trade Union Act. This organization's main goal is to support women entrepreneurs in the rural sector. The majority of the members of this organization come from the unorganized sector.

Currently, SEWA's operations have expanded from rural to global levels, and it receives significant funding from international organizations such as the Ford Foundation and UNICEF.

WEHUB

Telangana became India's first state-led incubator for women entrepreneurs with the inauguration of Women Entrepreneurship Hub (WE-HUB) in 2018. It is a platform open to all types of innovations, including tech start-ups, social innovation start-ups, and ideas that are wholly and radically new. It will not only give women access to mentors and financing, but it will also encourage more women to start businesses.' WE Hub connects female entrepreneurs with finance, mentorship, and a supportive atmosphere.

SHGs

SHGs are self-help groups made up of a small group of self-employed women entrepreneurs. Women entrepreneurs may come from both rural and urban locations. The fundamental goal of SHG is to look after the well-being of its members. Through financial institutions and non-governmental organizations, it provides financial aid for the wellbeing of its members.

FIWE

Federation of Indian Women Entrepreneurs (FIWE) was founded in 1993 as a result of a resolution passed at the 7th International Conference of Women Entrepreneurs. Through collaboration with numerous women's organizations and associations, it has aided women entrepreneurs in a variety of activities.

NABARD

NABARD is an autonomous organization that aims to provide women entrepreneurs easy access to loans. The following are some of NABARD's key qualities when it comes to providing unrestricted loans to female entrepreneurs:

• to provide finance to SHGs 
• Offers facilities on resources and training in NGO Formation.
• arranges training from bank officials on creation of SHG.
• Offers refinance to bank against lending to SHG

WSquare’s W-INcubate

W-INcubate is Bengaluru's first incubation center for female entrepreneurs and women startups. The center can assist with everything from networking to mentorship to company ideation. WSquare promises to assist growth-stage and early-stage businesses by providing branding, marketing, mentorship, networking, hands-on advice and seminars with industry professionals, office space for up to a year, and access to seed finance and other investment outlets through this platform.

To encourage women startups and women entrepreneurs, there are certain schemes being offered by the government and public institutions throughout the country that have enticing incentives to encourage these companies and make it easier for them to obtain financing. There are age restrictions, loan limitations, and conditions associated with these loans, which one must review thoroughly before proceeding with the loan. However, let us look at how various schemes launched to support women startups:

• Annapurna Scheme
• Bharatiya Mahila Bank Business Loan
• Mudra Yojana Scheme
• Orient Mahila Vikas Yojana Scheme
• Dena Shakti Scheme
• Pradhan Mantri Rozgar Yojana
• Udyogini Scheme
• Cent Kalyani Scheme

While there are setbacks, and risks associated with startups, many women have conquered these obstacles and carved out a niche for themselves in this male-dominated field. The Indian government is committed to women's empowerment and is doing everything it can to improve women's place in society, from funding to education. Stay aware and good luck ladies!