In News:

The Women Entrepreneurship Platform (WEP) of NITI Aayog, in partnership with New Shop (India’s largest 24/7 convenience retail chain), launched the initiative EmpowHER Biz – Sapno Ki Udaan under the Award to Reward (ATR) program. This program aims to empower women entrepreneurs by providing them with the skills, resources, and mentorship needed to succeed in the organized retail sector. The collaboration seeks to create a robust retail ecosystem that supports women in overcoming barriers such as societal biases, limited access to financing, and a lack of mentorship.

Key Features of the Initiative:

• Target Participants: The program will select 50 women aged 18-35 through an online application process. Women from Delhi NCR, Punjab, Rajasthan, Uttar Pradesh, Haryana, Madhya Pradesh, and Gujarat will be considered.
• Top 20 Participants: The 20 best candidates will receive a 100% waiver on New Shop franchise fees, enabling them to operate their own retail businesses with reduced financial barriers.
• Program Objective: Equip women entrepreneurs with skills such as retail management, digital tools, financial literacy, and business development. Participants will also receive valuable mentorship to help them grow and scale their businesses.
• Focus on Retail: The initiative focuses on empowering women within the organized retail sector, creating a sustainable ecosystem that fosters growth and development for female entrepreneurs.

About Women Entrepreneurship Platform (WEP):

• Incubation & Transition: Established in 2018, WEP was incubated within NITI Aayog and transitioned into a Public-Private Partnership (PPP) in 2022.
• Purpose: WEP aims to empower women entrepreneurs by addressing challenges like information asymmetry and providing essential support in key areas such as:
  • Access to Finance
  • Market Linkages
  • Training & Skilling
  • Mentoring & Networking
  • Compliance & Legal Assistance
  • Business Development Services
• Collaboration: WEP partners with over 30 public and private sector organizations to develop scalable and impactful programs. Since 2023, the Award to Reward initiative offers a framework for stakeholders to create impactful programs for women entrepreneurs.

About New Shop:

• Business Model: New Shop operates over 200 round-the-clock convenience retail stores in high-density areas, including highways and gas stations. The company plans to expand into airports, railway stations, and other mass transit hubs.
• Franchising Vision: By 2030, New Shop aims to empower over 10,000 entrepreneurs in India through its franchising model. The partnership with WEP seeks to help women entrepreneurs access this growth opportunity.

Program Outcomes:

• Mentorship & Training: Participants will be mentored and trained on key aspects such as retail management, business development, and digital tools.
• Franchise Opportunity: Top participants will gain access to New Shop’s franchising ecosystem, providing them a ready-made business opportunity with lower entry barriers.
• Financial Assistance: The program will also provide financial resources to the women, helping them build their businesses with greater ease.