Bengaluru, July 25, 2024: Kotak Mahindra Bank Ltd and NSRCEL- IIM Bangalore on Thursday announced the commencement of the fifth Cohort of the Women Startup Program aimed at empowering aspiring female entrepreneurs from across the country.
This initiative, launched under KMBL’s CSR commitment towards Education & Livelihood, seeks to support ambitious and innovative women by enabling them to build scalable businesses.
“This partnership underscores our commitment to empowering women entrepreneurs with essential skills and knowledge. By combining our resources and expertise, we aspire to support them in establishing successful enterprises, contributing to economic growth and creating employment opportunities across the nation,” said Chetan Savla, President - Sustainability and Strategic Projects, Kotak Mahindra Bank.
The Women Startup Program has served as a catalyst for over 23,053 women, helping them develop entrepreneurial and managerial skills. The program's entrepreneurs come from a diverse range of over 20 sectors, including technology, social impact, agriculture, retail, healthcare, energy and environment, textile, apparel, and many others. They represent 24 states across India. To date, the program has provided incubation support to over 590 ventures and facilitated the creation of 2,083 jobs.
The Women Startup Program, entering its fifth edition, will commence with a 5-week Foundation of Entrepreneurship (FOE) course and a 2-month virtual pre-incubation phase for prototype development. Successful candidates will then progress to a 5-month incubation at NSRCEL to scale their ventures. The program will support women entrepreneurs across stages like ideation, prototype, and revenue, offering tailored support through pre-incubation, incubation, and acceleration phases.
A dedicated accelerator cohort will focus on crafts, tech, and healthcare/life sciences. Participants will also get an opportunity with the newly introduced option for lateral entry at any stage based on the venture's suitability. A total of INR 3 crore will be disbursed among the top-performing ventures based on their achievements, providing essential financial backing to advance their projects.
The program will offer structured learning in business planning, marketing, finance, and operations, with mentorship from experienced entrepreneurs and industry experts. It emphasizes networking and community building, providing connections with other women entrepreneurs and industry leaders. Participants will gain access to IIMB faculty, infrastructure, startup kits, and comprehensive CA/CS and legal advice on trademarks, patents, and intellectual property.
“We at NSRCEL, with the support of our esteemed partner, Kotak Mahindra Bank, have made a significant impact on India's economy by fostering innovation and entrepreneurship across the country. Through this program, we have supported ventures not only in major urban centres but also in tier 2 and tier 3 regions, driving economic growth and creating job opportunities. By supporting women entrepreneurs, we are empowering individuals and contributing to the broader economic development of our nation,” said, Anand Sri Ganesh, CEO of NSRCEL.
Additionally, business mentoring in collaboration with 12 esteemed institutions, including IIMs, IITs, other incubation centres, and universities, will amplify the program’s impact nationwide.
Kotak Karma is the Corporate Social Responsibility (CSR) identity of Kotak Mahindra Group.
