Women's Indian Chamber of Commerce & Industry (WICCI), Banking and Credit Council has announced a capital program - AWE (Accelerating Women Entrepreneurs) in association with HSBC India and Startup India.
The AWE program is focused on providing women entrepreneurs’ education on business, growth, networking, and raising capital to shape the landscape for women-owned businesses.
The program seeks to assist women entrepreneurs in gaining financial literacy in corporate finance, in raising capital, mentorship, and networking. It has selected 30 women founders selected from over 550 applications received so far.
“Women in India owned a little over 20 percent of all micro, small and medium businesses across India compared to nearly 80 percent among men in FY 2020-21 according to a recent report. They also had the highest share of micro businesses within business sizes, with more enterprises in rural areas than urban parts of the country. Given this abysmally low number, it is no surprise that many of their achievements go unacknowledged and challenges unaddressed,” Anjali Singh, President WICCI Banking Council, said.
Only 7 out of 100 entrepreneurs in India are women, and India ranks among the lowest nations (52nd among the 58 countries studied globally), for providing a congenial environment for women entrepreneurs.
However, in order to create a competitive market, female participation in the Indian startup ecosystem is necessary. It will give them access to funds, markets, and mentors.