HYDERABAD: With an aim to give more access to funding for women entrepreneurs, the State government on Friday declared the “We-Hub” as a company under Companies Act. Telangana is one of the most preferred Electronics, IT, Pharma business destinations in India, ranking second in terms of IT exports. The government is continually striving to further strengthen this position and establish itself as the most preferred technology investment destination in the country, by creating a strong entrepreneurial ecosystem in the State. To progress along these lines, the government has established and supported numerous eco-system enablers for start-ups and entrepreneurs such as IMAGE Tower,T-WORKS, T-HUB, RICH, T-Fiber, TASK and T-Works.
Based on a study of the entrepreneurial set and applications received by several of these entities, it has been noticed that very few of these are owned, operated and/or initiated by women entrepreneurs, creating a need for women focused initiative. The GES (Global Entrepreneurship Summit) held in November 2017 in Hyderabad with the theme “Women First prosperity for All” further strengthened the State government resolved to set up a platform focused on women entrepreneurs,” according to the orders issued by principal secretary Industries Jayesh Ranjan.
He further stated that understanding the structural barriers faced by women entrepreneurs in the society, TS had identified the need to create a strong support system for women entrepreneurs that includes, mentors, entrepreneurs, investors, and support service providers. For this purpose, the State decided to set up a world class incubation facility for women called WE-Hub (Women Entrepreneurship Hub). What We-Hub aims at.
Access to State support
Create new policy and strengthen existing policies to encourage entrepreneurship, women continuances in the workforce. We-Hub proposed incubation facility.
Government nominated four members as first directors of proposed company: Principal secretary ITE&C Jayesh Ranjan, Kalaari Capital managing director Vani Kola, Apollo Hospitals Group joint managing director Sangita Reddy and Map My Genome founder & CEO Anu Acharya