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Wednesday, December 6, 2023

Women Entrepreneurs (WE) Hub empowers 914 women-led startups

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WE Hub, a government-run incubator, plans to build facilities in each Telangana district to help rural women entrepreneurs start out, scale up, and accelerate across global markets. WE Hub has so far nurtured 914 new female-led enterprises. WE Hub-incubated firms have so far secured more than $10 million (Rs 82.85 crore).

WE Hub (Women Entrepreneurs Hub) is India’s first and only State-led incubator dedicated to promoting and developing women’s entrepreneurial talents. It has supported women entrepreneurs with innovative ideas, solutions, and businesses concentrating on developing areas in technology and associated sectors since its launch on March 8, 2018.

It also fosters entrepreneurs from underserved and untapped markets. WE Hub reaffirmed its commitment to removing financial and cultural obstacles for women and assisting them in achieving success in their businesses.

The government-run platform assists women entrepreneurs across the country in starting up, scaling up, and accelerating in global markets. At the moment, WeHub is incubating 84 startups, in addition to 125-130 women who we help scale their businesses.

Over the last four and a half years, WE Hub has fostered around 914 businesses. It has helped over 6,200 women who have creative ideas but have not yet registered as businesses with the DPIIT (Department for Promotion of Industry and Internal Trade). The majority of businesses at WE Hub are in the fast-moving consumer goods (FMCG) and food processing industries, accounting for over half of all firms.

While 25% of startups are in the textile/handloom and garment production/processing sector, 13% are in healthtech/lifesciences, 9% are in socialtech, and the remainder are in various other areas.

WE Hub-supported firms have received more than $10 million (Rs 82.85 crore) to far. This comprises bank partnerships, equity financing, and the Startup India Seed Fund Scheme (SISFS).   A large number of companies have secured funding pledges. However, people at We Hub consider it funding only when it reaches the entrepreneurs’ bank accounts.

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