Govt launches 'Women Entrepreneurs' hub to support entrepreneurship in Hyderabad
New Delhi, Dec 1 (KNN) Govt will set up WE Hub to support women entrepreneurs and procure goods made by them, Telangana information technology and industries minister K.T. Rama Rao said while addressing a press conference after the closing session of the Global Entrepreneurship Summit (GES) in Hyderabad.
Stating WE stands for women entrepreneurs, he said that the hub will be based on the model of government backed start-up accelerator T -hub present in IIT Hyderabad. The minister also announced T-fund under which funding worth between Rs 25 lakh and Rs1 crore will be given to the entrepreneurs.
As per the mandate, government procures 20 percent of the goods from Micro, Small and Medium Enterprises (MSMEs) now fourth of this procurement would come from women run businesses, the Minister said.
Amitabh Kant, CEO of NITI Aayog said that GDP has shown considerable growth in the current quarter as it has risen to 6.3%. He added that the funding between men and women run businesses is disproportionate in the country, so the NITI Aayog would set up a women cell.
Prime Minister Modi and advisor to the US President Ivanka Trump inaugurated the eighth edition of Global Entrepreneurship Summit (GES) themed ‘‘Women First, Prosperity for All’ on 28 November. (KNN/AG)