IIM Kozhikode and MRPL join hands to support women entrepreneurs

Our Bureau Kochi | Updated on October 21, 2019 Published on October 21, 2019

IIM Kozhikode and the oil PSU Mangalore Refineries and Petrochemicals Ltd has announced a special drive to support women entrepreneurs in the country.

The initiative, labelled as La Eve (meaning The Woman), aims to identify innovative, promising women founded start-ups in order to provide a comprehensive support programme.

The initiative will be steered by IIMK Live, the institute's entrepreneurship development centre called Laboratory for Innovation, Venturing and Entrepreneurship, with the support of the start-up fund of MRPL. Last year MRPL had entered into an MoU with the institute and since then it has provided seed funds to over 11 start-ups incubated at IIMK Live.

Debashis Chatterjee, Director, IIMK said: “No economy can grow at its full potential if a section of human resource is not actively contributing to it. Promotion and support of women entrepreneurship can contribute significantly to the country's economic goals".

Keyoor Purani, Executive Director, IIMK Live said, "Given the larger socio-economic context, a large number of educated and skilled women prefer to work on their own terms compared to the traditional jobs. Technological developments have further facilitated location and time neutrality favouring many of them to start-up and lead ventures that create economic value and make social impact. This trend, if channelled well can contribute significantly to the innovation-led entrepreneurship."

A spokesperson from MRPL said, "The start-up India website notes that female led ventures perform 63 per cent better than male led companies in terms of return on investment with women showing unparalleled willingness and capacity to organise, develop, and manage a business venture."

New ventures that fit the definition of start-ups, are registered under the Companies' Act of India and are founded by majority of women founders are eligible to apply.

Early stage start-ups with the minimum viable product or at least a proof of concept would be considered.

Selected start-ups would be provided seed support funds of up to ₹25 lakh, structured incubation program with task-based mentoring, access to professional services, co-working space, subsidised training and workshops and several other benefits on campus.

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Published on October 21, 2019
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