Enthused by the success of the Global Entrepreneurship Summit (GES) which concluded here on Thursday, the Telangana government announced the setting up of WE-Hub, an exclusive incubator for women entrepreneurs.
Minister for Information Technology K. T. Rama Rao announced at the end of the summit that WE-Hub would be modelled on the lines of T-Hub, the country’s largest technology incubator which earned appreciation at the summit.
As the summit was focused on women entrepreneurs, the state government decided to set up the facility to help women startups.
Rao also announced the setting up of a Technology Fund (T-Fund) with a corpus of Rs 15 crore exclusively for women entrepreneurs. The women entrepreneurs can get Rs 25 lakh to Rs 1 crore under this fund.
Announcing the third initiative, the minister said women entrepreneurs will get one-fourth share in 25 per cent of the total procurements made by the government from the private sector, mostly SMEs.
NITI Ayog CEO Amitabh Kant announced that the Atal Innovation Mission of the government of India would partner with the state government for these initiatives.