Kotak Mahindra Bank and NSRCEL Launch Fifth Cohort of Women Startup Program to Empower Female Entrepreneurs
- ByStartupStory | July 25, 2024
Kotak Mahindra Bank, in collaboration with NSRCEL-IIM Bangalore, has launched the fifth cohort of its Women Startup Program as part of its Corporate Social Responsibility (CSR) initiative. This program is dedicated to empowering aspiring female entrepreneurs across India by providing comprehensive support to help them 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 new cohort will begin with a 5-week Foundation of Entrepreneurship (FOE) course, followed by a 2-month virtual pre-incubation phase. Selected candidates will then enter a 5-month incubation phase at NSRCEL to further develop and 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, with a special focus on crafts, tech, and healthcare/life sciences. A total of INR 3 crore will be allocated to top-performing ventures based on their achievements, providing essential financial support.
The program also emphasizes networking and community building, offering connections with fellow entrepreneurs and industry leaders, and access to legal and financial advice. Business mentoring will be provided in collaboration with 12 esteemed institutions, including IIMs, IITs, other incubation centers, and universities, further enhancing its impact and reach across the country.
The Women Startup Program claims to have impacted over 23,000 women across various sectors, including technology, healthcare, agriculture, and retail, across 24 states in India. It has facilitated incubation support to over 590 ventures and created over 2,000 jobs.
“Through this program, we have supported ventures not only in major urban centers but also in Tier II and Tier III 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,” added Anand Sri Ganesh, CEO of NSRCEL.
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