Telangana announces WE-Hub, an innovation hub for women, special Rs 15-cr fund for women

The Telangana Government announced a move to set up an exclusive innovation hub on the lines of T-Hub for women called WE-Hub, backing it with an exclusive Rs 15-crore fund.

NITI Aayog announced it will back the proposed WE-Hub with funds under the Atal Innovation Mission.

Addressing a press conference after the conclusion of the 3-day mega Global Entrepreneurship Summit, Amitabh Kant, CEO of Niti Aayog, said, “The proposed exclusive hub for innovation will be backed by funds from Atal Innovation Mission, whose focus is on encouraging entrepreneurship in the country.”

Kant further said that under the Atal Innovation Mission, the focus would be on encouraging the setting up of tinkering labs at schools for girls, emphasising the importance being laid on encouraging entrepreneurship in the country.

Responding to requests made by women entrepreneurs in the country, Kant also announced that a separate cell would be set up for women in Niti Aayog, which will enable better interface. This would be headed by Anna Roy, Advisor to Niti Aayog.

GES success

KT Rama Rao, Telangana Minister for IT and Industry, said that the GES 2017 was a great success and has provided a platform for Telangana and Hyderabad to showcase its T-Hub, which was mentioned by Ivanka Trump, advisor to US President Donald Trump during her address at GES. He said a bigger T-Hub, considered to be the largest such innovation hub in the world would be ready by next year and play catalytic role in encouraging entrepreneurship.

“Following representations from women entrepreneurs, already the State has encouraged setting up of three exclusive industrial parks for them. And now, we have decided to set up WE-Hub, whose details would be announced soon,” Rao explained.

He also announced that the State has decided to create a Rs 15-crore fund for women start ups, where women entrepreneurs would be extended financial support ranging from Rs 25 lakh to Rs 1 crore.

“The Government also decided to take a policy decision to procure Government requirements from women entrepreneurs. As of now, a fourth of Government requirement is procured from MSMEs and of this at least 20 per cent would henceforth be procured from women enterprises,” he said.