Karnataka IT Minister Announces Rs 10 Cr Fund For Women Entrepreneurs

In a country where startups are important growth engines, the Karnataka government seems to have its own value-added schemes for women entrepreneurs. To mark this year’s International Women’s Day celebration, Priyank Kharge, IT Minister of Karnataka, has announced a huge fund of Rs 10 crore for women entrepreneurs of the state.

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According to the government's announcement, women-led startups will be funded up to Rs 50 Lakh, with a concept called Idea2PoC (Proof of Concept) fund for any technologies intervention ideas.

The minister assured aspiring women entrepreneurs access to funding, legal, and mentoring support. He also promised all assistance to female entrepreneurs -- be it with Proof of Concept validation, certification or and cover costs in manufacturing of pilot devices.

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IT Minister, Priyank Kharge stated:

“I am happy to note that the confederation of women entrepreneurs is promoting the cause of empowerment by inculcating a culture of entrepreneurship among women and facilitating in shaping their ideas into workable models of business. Women's empowerment means building their confidence level to face the world and to achieve their targets.”

“Most people keep talking about policies, practice and gaps. Though there's a policy, there's no collateral security. And, when women entrepreneurs go and meet any financial institutions, there's always a collateral security solution that they ask for. The minister of IT has announced Rs 10 crore for women entrepreneurs in the state to boost their  onfidence as they will now be given top priority in the startups culture,” says Uma Reddy of Hi-Tech transformers.

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“This is actually a great aid for aspirant women who might have thought of setting up their own enterprises but have put it on hold thinking of the problems associated with raising funds. There’s a fund easily available to them now, so there's no insecurity that stops them from going ahead in the race. The whole department of IT is very progressive, I would say more open and receptive to new initiatives. Amidst the entrepreneurship surge, providing a big amount of fund as this is definitely a great initiative from the Government of Karnataka. There was also an announcement of 50% off for women travellers at Jungle Lodges by Karnataka Tourism. Through all this, the govt is actually enabling women to dream big and boost their confidence,” Reddy explains.

This wonderful move by the government of Karnataka will definitely help the rise of women entrepreneurs in India.

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