CURRENT AFFAIRS
CURRENT AFFAIRS
Description
The Women Entrepreneurship Platform (WEP) of NITI Aayog has launched a new initiative called EmpowHER Biz – Sapno Ki Udaan, in collaboration with New Shop, a prominent 24/7 convenience retail chain in India. This programme is designed to empower women entrepreneurs by equipping them with the necessary skills and resources to succeed in the organised retail sector.
Objective Of EmpowHER Biz
The EmpowHER Biz programme aims to provide aspiring women entrepreneurs with mentorship and comprehensive training in areas such as retail management, digital tools, financial literacy, and business development. The goal is to create a supportive environment that helps women excel in the retail industry.
Selection Process
Fifty women entrepreneurs, aged 18 to 35, will be selected through an online application process. The selection will be based on specific criteria to ensure that the most deserving candidates are chosen. The top 20 selected participants will receive a 100% waiver on New Shop franchise fees, helping to reduce financial barriers to entry.
Target Regions
The programme is targeting women from various states, including Delhi NCR, Punjab, Rajasthan, Uttar Pradesh, Haryana, Madhya Pradesh, and Gujarat. This regional focus ensures that women from different backgrounds have the opportunity to participate.
Background And Goals Of WEP
WEP, established in 2018 under NITI Aayog and later transitioning into a public-private partnership in 2022, is dedicated to supporting women entrepreneurs. The platform addresses challenges such as information asymmetry and offers support in areas like finance, market linkages, training, networking, legal assistance, and business development.
Collaboration With New Shop
WEP works with more than 30 public and private sector partners to develop impactful initiatives. The Award to Reward programme, launched in 2023, provides a framework for stakeholders to create programs that benefit women entrepreneurs. New Shop, with over 200 retail outlets, is expanding its presence to key locations such as airports and railway stations.
Commitment To Empowerment
New Shop has pledged to empower over 10,000 entrepreneurs across India by 2030 through its franchising model. This collaboration with WEP aims to democratise access to retail ownership, offering women valuable mentorship, training, and financial assistance to help them thrive in the retail sector.
Challenges Faced By Women Entrepreneurs
Women entrepreneurs often face challenges, including societal biases and limited access to financing. The EmpowHER Biz programme seeks to address these obstacles by offering a solid foundation for women to pursue and succeed in their entrepreneurial ventures.
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