Bengaluru, Oct 13 (KNN) The startup incubator of Indian Institute of Bangalore (IIM-B), NSRCEL along with Karnataka State Rural Livelihood Promotion Society on Thursday jointly launched the Swavalambane programme to empower rural women entrepreneurs of Karnataka.

The programme aims to bring together 150 rural women entrepreneurs under one roof, providing them with networking opportunities and assisting them with financial support for business growth and success.

It is supported by the National Rural Livelihood Mission (NRIM) under the National Rural Economic Transformation Project funded by the World Bank.

The programme also aims to scale existing women-led microbusinesses across Karnataka’s tier 2 and tier 3 landscapes to elevate their businesses by providing them with access to a support ecosystem to engage with larger markets, become financially sustainable and generate local employment and help them transform into successful, scalable and sustainable businesses.

The programme’s objectives include supporting enterprises to become formal and legal entities, increasing revenue by 15 per cent for each enterprise and creating a replicable business model that can be adopted across Karnataka and states participating in the National Rural Economic Transformation Project (NRETP).

Commenting on the launch, Anand Sri Ganesh, CEO of the NSRCEL at IIM Bangalore, said, “Karnataka’s entrepreneurial landscape is renowned for its tech-led innovation and for its incredible grassroots entrepreneurship. Areas like silk, toys, jewellery and food products have global recognition. And women have been the driving force behind this. The Swavalambane programme catalyses this growth for women entrepreneurs by facilitating access to resources, funds, skill development, mentorship and networking opportunities. In partnership with The National and State Livelihood Missions, we will build a methodology that can be replicated across the country to support the development of a robust entrepreneurial ecosystem for economic growth.”

Under this programme, the participants will be supported on capacity building through programme module training and individual/group mentoring sessions to learn and develop key skills and knowledge to successfully navigate through entrepreneurial challenges.

The NSRCEL received more than 4,000 applications and shortlisted 150 enterprises through a rigorous process involving venture profiling and a challenge fund competition.

These selected enterprises were recognised and granted financial support in the form of grants and soft loans, which were awarded based on their business pitches, identified needs and the scope of their respective enterprises.  (KNN Bureau)