IIM Visakhapatnam partners with IIM Bangalore for a nationwide “Women Startup Programme (WSP)”
10 January 2018:
IIM Visakhapatnam stands committed to playing a constructive role in contributing to the overreaching goal of inclusive and equitable development of the nation as a whole and the state of Andhra Pradesh in particular. With this view, it has partnered with the N S Raghavan Centre for Entrepreneurial Learning (NSRCEL) at IIM Bangalore (IIMB), to promote women startups in the region. It is believed that the program will help women of the sunrise state of Andhra Pradesh to develop entrepreneurial skill sets to help them in the ideation stage and managerial skill sets that will help them start and grow their ventures. The Institute is also developing a new facility (incubator) at its temporary campus at Andhra University to serve this purpose.
IIM Visakhapatnam has also signed a MoU with IIMB to partner for nationwide “Women Startup Programme”. The Programme was launched on January 8, 2018 at Bangalore by the NS Raghavan Centre for Entrepreneurial Learning (NSRCEL) of IIMB in partnership with IIM Visakhapatnam and others such as CIIE’s Innocity, Ahmedabad; IIM Indore; IIM Nagpur; IIM Udaipur and Presidency University, Kolkata.
The programme is funded by Goldman Sachs (NYSE: GS), a global investment bank and active investor in India, and the Department of Science & Technology (DST), Government of India. The WSP is India’s first customized online and classroom initiative designed to enthuse aspiring female entrepreneurs-in-the-making across the country. The programme seeks to facilitate the growth of women entrepreneurs by providing in-depth training to foster and augment managerial and entrepreneurial skills through mentoring, incubation, and financial support.
During the coming year, the WSP will provide training for over 12,000 women through its “Do Your Venture” Massive Open Online Course (MOOC), which has been customized to encourage women to systematically identify and test their business ideas. Thereafter, 300 women entrepreneurs-to-be will be shortlisted for a boot camp to be held at partner campuses in the towns nearest to them, where they will receive classroom instructions on communications and customer interaction. From the 300 ventures, a select 100 women entrepreneurs will then travel to IIMB for a second boot camp, where they will receive classroom instructions on developing a business plan, understanding costing and pricing, sales and marketing, and negotiation skills. During this period, they will also have networking opportunities with successful women entrepreneurs, venture capitalists, IIMB students, and Goldman Sachs professionals.
After the completion of the boot camp, these women entrepreneurs will have their business ideas incubated for a year at a partner institution of their choice where each woman will also receive INR 30,000 per month for financial support and funding from a small prototype fund to run their ventures.
WSP Structure starting from January 22nd 2018:
- 22nd January – 3rd March: “Do Your Venture” Massive Open Online Course (MOOC)
- April: 300 ventures shortlisted for a boot camp at partner campuses nearest to them, to receive classroom instructions on communications and customer interaction
- May: 100 women entrepreneurs selected for a second boot camp at IIMB where they receive classroom instructions on developing a business plan, understanding costing and pricing, sales and marketing, and negotiation skills.
- Post second boot camp: Women will have their business ideas incubated at a partner campus of their choice for one year.
We or IIMB will not charge any fee from the participants to participate in this program.