The Indian Institute of Management Bangalore’s NS Raghavan Centre for Entrepreneurial Learning (NSRCEL) has joined hands with Goldman Sachs to launch a Women Startup Programme in order to boost women entrepreneurship in the country.
The announcement was made at WEConnect International’s ThinkBig Summit 2016. The summit is said to be the Asia’s largest women’s entrepreneurship empowerment platform.
The Women Startup Programme, as it is called, aims to help women think of, create and initiate new ventures by providing them with early training, handholding through mentoring and incubation and support to the selected best projects. The startup programme is open to all women entrepreneurs and will be offered at no cost.
Professor Suresh Bhagavatula, programme director and chairperson of NSRCEL said, “We felt there is a great need to start a new educational initiative to help women who would like to start up. When a possibility to do so arose, with support from Goldman Sachs, we designed this new programme.”
The programme will be conducted in three stages, designed to develop both entrepreneurial as well as managerial skills.
Phase One is a five-week course offered online to enable learning which is expected to be accessed by more than 2,000 aspiring women entrepreneurs across India. It will help them understand various aspects of entrepreneurship, including idea identification and valuation.
Phase Two is a three-week on-campus experience. The top 50 from the online course will come for a three-week classroom interaction that includes sessions for developing the business idea/ developing a minimum viable product/ mentoring. Participants will also have an opportunity to attend multiple startup events that IIMB hosts.
The Final Phase includes a business plan competition. Women will present their business ideas in the final stage where a selection panel will identify 10 ideas. These women would be offered incubation facility at NSRCEL, along with a monthly fellowship of Rs 40,000 for 12 months. Especially for the woman cohort, NSRCEL will be conducting a number of capability building workshops, mini demo days along with mentoring sessions. Besides regular NSRCEL mentors, Goldman Sachs’ senior leaders will also mentor and share their insights with the participants.
Sonjoy Chatterjee, Chairman and Co-CEO of Goldman Sachs (India) said, “Goldman Sachs is committed to investing in communities and is honoured to support IIMB in their efforts to educate the next generation of women entrepreneurs in India.”