In News:

Telangana has become the first state in India to establish a chapter of NITI Aayog’s Women Entrepreneurship Platform (WEP), aimed at promoting and supporting women entrepreneurs across various sectors.

Overview of WEP

• Objective: To provide women entrepreneurs access to resources, tools, and networks for business growth.
• Previous Operation: WEP was primarily a Central Government initiative before this chapter's establishment.

Launch Details

• Event: The WEP Telangana Chapter was launched in Hyderabad.
• Key Figures:
  • NITI Aayog CEO BVR Subrahmanyam
  • State IT and Industries Secretary Jayesh Ranjan
  • Co-chair of WEP Sangeetha Reddy

Customised Support for Women Entrepreneurs

• Services Offered:
  • Digital skilling
  • Access to financial services
  • Mentorship
  • Market linkages
• Implementation Body: WE Hub will serve as the nodal body for the scheme in the state, leveraging its expertise to empower women entrepreneurs.

Importance of Women Entrepreneurship

• Economic Impact: Emphasis the crucial role of women entrepreneurship in India's economic future.
• Challenges Addressed: The initiative aims to overcome barriers faced by women entrepreneurs in finances, mentoring, and marketing.

Future Expansion Plans

• Vision for Growth:
  • Principal Economic Advisor Anna Roy outlined plans to expand WEP to tier 2 and 3 cities.
  • The initiative aims to build an inclusive entrepreneurial ecosystem through a hub-and-spoke model.

WE Bridge Initiative

• Leadership: WE Hub CEO Sita Pallacholla appointed as mission director for the WEP Telangana Chapter.
• State’s Advantages: Telangana was chosen for its supportive environment for entrepreneurship in Self-Help Groups (SHGs) and its robust innovation ecosystem.
• WE Bridge: Introduced as a single-window platform for women entrepreneurs in the state.

Benefits of the Partnership

• Access to Resources: The collaboration with NITI Aayog will enhance opportunities for women, providing access to funding, technology, and networks.
• Mentoring Emphasis: Sangeetha Reddy highlighted the critical role of mentoring in business success.

Objectives of WEP Telangana

1. Skill Empowerment: Enhance digital technology and financial literacy among women entrepreneurs.
2. Mentorship Connections: Link women entrepreneurs with industry leaders for guidance in business development, marketing, and scaling.
3. Market Access: Facilitate connections with potential investors and industry partners through WE Hub’s extensive network.