Empowering Women Entrepreneurs in India
The Women Entrepreneurship Platform (WEP) of NITI Aayog has launched an exciting initiative called EmpowHER Biz – Sapno Ki Udaan. This program, in partnership with New Shop, aims to empower women entrepreneurs in India. It focuses on providing the necessary skills and resources for success in the organized retail sector. With a commitment to fostering a robust retail ecosystem, this initiative seeks to drive sustainable growth while addressing the unique challenges faced by women in business.
A Comprehensive Support System for Women Entrepreneurs
EmpowHER Biz is designed to equip aspiring women entrepreneurs with essential skills. The program offers mentorship and comprehensive training in various areas, including retail management, digital tools, financial literacy, and business development. By focusing on these critical aspects, the initiative aims to create a strong foundation for women looking to enter the retail sector.
The program will select fifty participants aged 18 to 35 through an online application process. These participants will be chosen based on specific criteria that ensure a diverse and capable group. Among these, the top twenty will receive a 100% waiver on New Shop franchise fees. This significant financial support will help reduce barriers to entry, allowing women to own and operate their retail businesses more easily. The initiative is being launched in several states, including Delhi NCR, Punjab, Rajasthan, Uttar Pradesh, Haryana, Madhya Pradesh, and Gujarat, ensuring a wide reach across the country.
The Role of WEP in Empowering Women
WEP was established in 2018 as an aggregator platform to support women entrepreneurs. In 2022, it transitioned into a public-private partnership, expanding its reach and resources. The platform aims to overcome information asymmetry and provide continuous support across various pillars. These pillars include access to finance, market linkages, training and skilling, mentoring and networking, compliance and legal assistance, and business development services.
With over 30 public and private sector partners, WEP fosters collaboration to develop scalable and impactful programs. The ‘Award to Reward’ initiative, launched in 2023, provides a framework for stakeholders to create meaningful programs that benefit women entrepreneurs. This collaborative approach ensures that women receive the support they need to thrive in their entrepreneurial journeys.
New Shop’s Commitment to Retail Empowerment
New Shop operates a network of over 200 convenience retail stores across India. These stores are strategically located in high-density neighborhoods, highways, and gas stations. The company plans to expand its presence to mass transit hubs, such as airports and railway stations. New Shop is committed to empowering over 10,000 entrepreneurs in India by 2030 through its franchising model.
The partnership with WEP is a significant step in New Shop’s mission to democratize retail ownership. Aastha Almast, Co-founder of New Shop, emphasized the company’s dedication to supporting young and first-time entrepreneurs in the retail sector. Through this collaboration, New Shop aims to provide valuable training, mentorship, and financial support to women, helping them navigate the challenges of entrepreneurship.
Overcoming Challenges Faced by Women Entrepreneurs
Women entrepreneurs often face numerous challenges, including societal biases and limited access to financing. These obstacles can hinder their potential in business. Ms. Anna Roy, Principal Economic Adviser at NITI Aayog, highlighted the importance of initiatives like EmpowHER Biz in addressing these issues. The program aims to help women overcome these barriers and build a strong foundation for their entrepreneurial journeys.
By providing mentorship and resources, EmpowHER Biz seeks to empower women to realize their dreams. The collaboration between WEP and New Shop represents a significant effort to create a supportive environment for women entrepreneurs in India. With the right tools and guidance, these women can thrive in the retail sector and contribute to the country’s economic growth.
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