The state government plans to launch We-Hub, a start-up incubator exclusively for women, along the lines of T-Hub, in order to support and en-courage female entrepreneurs, IT minister K.T. Rama Rao said at the conclusion of the GES – 2017.
“We-Hub will have the ingredients of T-Hub but will be exclusively for women,” he said. NITI Aayog announced it will back the proposed WE-Hub with funds under the Atal Innovation Mission.
Mr Rama Rao also announced that investments of Rs 25 lakhs to Rs 1 crore would be made in companies, especially those led by women, with a corpus of Rs 15 crore as part of the Technology Fund.
The idea, KTR says, is to create an entity with government support, while supporting women entrepreneurs with funding and infrastructure.
“We have set a new benchmark with T-Hub for other states. This is another path breaking initiative of Telangana government, which is going to set a new trend of supporting women entrepreneurs. We will create a facility where women feel exactly like T-Hub and we will ensure that with WE Hub, we follow all ingredients that have made T-Hub a success, while keeping it exclusive for women,” he said.
Additionally, the Telangana government also announced that as part of the procurement policy of the government, where 20% of the government procurement comes from private sectors and MSMEs, at least one-fourth of this will be done from women-run enterprises and will be initiated by then government this year.
At a press conference, Mr Kant said, “The GES will create innovation; an entrepreneurial run for the Make in India, Digital India and Start-up India initiatives, with the state of TS playing a critical role.”
Delegates from 150 countries participated in the Summit. The contingents of 127 countries included female delegates, and ten countries had all-women contingents. 33 percent of the entrepreneurs in attendance were below the age of 30.
“We are here to support all women enterprises as long as they are viable bankable projects,” Kant added.