With an objective to boost women entrepreneurs in the country, Indian Institute of Management, Bangalore has collaborated with Goldman Sachs to launch a startup programme targeted at women who do not have any entrepreneurial background but keen to set up ventures of their own.
The main motive of launching Women Startup Programme is to help women to create and initiate new ventures. For this purpose, early training will be given to women. During the training period, the women will undergo mentoring, and they will be encouraged to incubate new ideas. Similarly, these women will get support to select best projects. The programme is provided at free of cost for all the participants. The Wall Street Financial Firm will support the activities for a year. Sonjoy Chatterjee, Chairman of Goldman Sachs (India) and Bunty Bohra, Chief Executive of Goldman Sachs (India) will train the women.
NS Raghavan Centre for Entrepreneurial Learning (NSRCEL) of IIM-Bangalore has been offering a management programme to female entrepreneurs since 2011. However, only the women who have their ventures are allowed to take admission.
Suresh Bagavathula, Programme Director, expressed that it is time to help women who would like to step into startups. Since Goldman Sachs is supporting the initiative, the programme will be offered at free of cost as well as it is open for all the women who are interested in starting their own ventures. The programme will be conducted in three stages, and the focus will be on entrepreneurial and managerial skills.
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In the first stage, around 1,000 women will participate in a five-week Massive Open Online Course (MOOC) where they will undergo training in various aspects of entrepreneurship which include idea identification and valuation. In the second stage, the top 50 candidates from the online course will come for a three-week classroom interaction which includes sessions for developing the business. In the final stage, women will present their ideas where a selection panel will identify the ten best ideas.
The selected ideas will get a monthly fellowship of Rs. 40,000 for 12 months. NSRECL will offer incubation facility to the selected ideas. It will also conduct capability building workshops, mini demonstrations and mentoring sessions. The officials of Goldman Sachs will also mentor the women during this period.