IIMB (Indian Institute of Management Bangalore) and Goldman Sachs, a leading global investment bank selected 15 women entrepreneurs-in-the-making and their ideas for incubation over the next year as the final phase of its Women Startup Programme at the NS Raghavan Centre for Entrepreneurial Learning (NSRCEL), IIMB.
This is the India’s first customized online and classroom training programme designed to grow the next generation of female entrepreneurs. Finalist women’s ideas are selected to incubate (their ideas) at IIMB and receive a fellowship of 40,000 rupees per month to further develop their business ideas with the goal of starting a successful venture.
The ideas of 15 selected women range across a variety of topics, including matching volunteers to social causes, specialized healthcare systems, and customized social networks, said a release from IIMB.
The Women Startup Programme, launched in November 2016 drew more than 1,700 aspiring female entrepreneurs from across the country for a five-week online course focused on encouraging women to systematically identify and test their business ideas. Afterwards, 50 women entrepreneurs were selected to attend a three-week boot camp at IIMB.
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The three-week boot camp, which was offered at no cost, provided 50 participants with an opportunity to network with successful women entrepreneurs, venture capitalists, MBA students from IIMB, and Goldman Sachs professionals. Through this each participant enables to develop a robust ‘problem-solution’ methodology for comprehending the success and sustainability of their ventures.
“The final round culminated in a one-on-one demo day on February 25 where participants presented to a panel of entrepreneurs, Goldman Sachs professionals, and business leaders, including PC Mustafa, Founder & CEO of ID Fresh Food; Manish Singhal, Founding Partner of Pi Ventures; and Abhay Hanjura, Founder & CEO of Licious,” IIM Banglore said in a statement.
“Technology, either as the core business idea or using technology to scale, was a key theme in the programme. Many ideas also focused on community. Through the boot camp, our women entrepreneurs-in-the-making were able to learn and apply business acumen and technology expertise to help their ideas continue to grow into a viable business.” said Prof. Suresh Bhagavatula, Program Director at IIMB and Chairperson, Entrepreneurial Ecosystem Development, NSRCEL at IIMB.
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“Since 2008, through our 10,000 women initiatives, Goldman Sachs has been investing globally and in India in the economic empowerment of women through education and access to capital,” Goldman Sachs (India) Chairman and co-CEO Sonjoy Chatterjee said.
“The innovative business ideas developed through this mass outreach online and classroom Women Startup programme reflect the entrepreneurial talent in India and the tremendous potential of women entrepreneurs,” he said.
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