Women Startup Programme 2020-21

The InFED was involved in entrepreneurship education of aspiring women entrepreneurs from the states of Maharashtra and Chhattisgarh.

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Women Startup Programme 2020-21

The IIMN Foundation for Entrepreneurship Development (InFED), the business incubator of Indian Institute of Management Nagpur (IIM Nagpur) partnered with NSRCEL, IIM Bangalore for the Women Startup Programme 2020-21. The InFED was involved in entrepreneurship education of aspiring women entrepreneurs from the states of Maharashtra and Chhattisgarh.

Programme Outreach and MOOC

The InFED was involved in promotion of this programme right from the start. More than 1700 aspiring women entrepreneurs had registered for this programme from the states of Maharashtra and Chhattisgarh. The first stage for the programme was attending the Massive Open Online Course (MOOC) titled, ‘Do your venture’, hosted on the SWAYAM portal from 31st August 2020 till 2nd October 2020. The MOOC focused building entrepreneurial mindset, introducing concepts like lean canvas, developing problem solving and creativity skills. A total of 301 women completed the course with all due submissions.

State Ecosystem Partner: Maharashtra State Innovation Society, Govt. of Maharashtra

Regional Ecosystem Partner:

  • Marathwada Accelerator for Growth & Incubation Center (MAGIC), CMIA, Aurangabad
  • Atal Incubation Center 36inc, Raipur

Women Startup Programme 2020-21Launchpad

Out of a total of 301 women who completed the course, based on the ‘Lean Canvas’ and ‘Video Pitch’, 41 (Maharashtra – 38 | Chhattisgarh – 3) aspiring women entrepreneurs were selected for the next stage of the programme i.e. Launchpad. The duration of this stage was for 2 months during which these selected 41 participants were introduced to advanced topics in entrepreneurship and innovation. Finally, 26 participants were selected for 6-months incubation support.

Sessions on – Leveraging network, Negotiations, Operations management, Sales Garage, and Financial planning were held at this stage.

Women Startup Programme 2020-21Department of Science and Technology, Government of India (DST, GoI) supported ‘Women Entrepreneurship Development Programme’ (WEDP) – 27th January to 26th February 2021 The InFED had also organized an online Women Entrepreneurship Development Programme supported by DST, GoI. Against a call for applications we received 92 applications against which 29 participants were selected based on their ideas. Out of these 29, a total of 27 participants from 7 states and 1 union territory (Ladakh) participated and completed the course. The WEDP saw 32 dignitaries sharing their experience with the participants.

As a programme completion requirement, the participants submitted pre-feasibility study and a business plan document for their business idea.

4 participants were shortlisted for further incubation support of 6 months to join the Women Startup Programme cohort.

Ideas for New India Challenge 2020, Ministry of MSME, Government of India

The Ministry of MSME, Government of India had organized, ‘Ideas for new India challenge 2020’ in February 2020. A total of 7 incubates of InFED had participated in the challenge. 3 ideas were shortlisted to be presented in the national finals in front of jury in September 2020. 2 ideas were finally approved by the Ministry for product development funding upto 12.75 lakhs. The final sanctioned amount for both the ideas was transferred at the end of March 2021.

These two incubates also joined the WSP cohort of 26.

Incubation

A cohort of 32 aspiring entrepreneurs thus began their journey into InFED, IIM Nagpur’s 6-month incubation under the Women Startup programme on 1st March 2021.

Details about the participants and their ideas are given below:

  • State

The bulk of the selected participants hail from Maharashtra, along with one participant from Chhattisgarh.Women Startup Programme 2020-21

  • Qualifying Degree

A majority of the participants are post graduates, and the cohort also includes three participants with doctorates.Women Startup Programme 2020-21

  • Stream

There is considerable diversity in the streams of education among the participants. The cohort is composed of a healthy mix of participants from Commerce, Arts, Management, Science, and Engineering, in addition to Architecture, Law, and Design graduates.Women Startup Programme 2020-21

  • Sector of Idea

There is a near-equal division among the sectors of the proposed ventures – with a little over half of all ventures belonging to Manufacturing, while the remainder belonging to Services and the Not-for-Profit sector.Women Startup Programme 2020-21

  • Industry

The proposed ventures connect to a number of industries, with Healthcare/ Sanitation and Food/ Agriculture and Rural Development contributing to the majority. EdTech and IT/ ITES also have a significant presence in the cohort.Women Startup Programme 2020-21

  • Stage of Idea

The participants have self-categorized themselves into four stages i.e. Idea stage, Prototype ready, Commercialized and Ready to scaleup

Women Startup Programme 2020-21Sessions organized/ hosted:

Sr. No. Name of Topics Resource Persons
1 Formulating & implementing strategy for profitable

growth

Prof. Atul Pathak
2 Entrepreneurial Operations Prof. Prakash Awasthy
3 Managing Entrepreneurial Finance Mr. Suresh Verma, CFA
4 Product-Market Fit and Go-To-Market Mr. Rajesh Pandit
5 Masterclass: Business Model Canvas Prof. Saurabh Pandya
6 Planning for Human Capital Prof. Vishal Arghode
7 Pitching it Right Prof. Vidhula Venugopal
8 Legal forms of organization (Company formation,

licenses & accreditations)

Dr. Shantanu Jog, CS
9 Masterclass: Business Development Mr. Chand Das
10 Introduction to Startup Ecosystem Maharashtra State Innovation

Society

11 Masterclass: Preparing for immediate future as an

Entrepreneur

Dr. Anamika Chawhan

50 hours of training was provided through the above-mentioned topics.

Mentoring sessions:

  • Shashikant Chaudhary, Former MD, Global Logic, India and Honorary Advisor, InFED
  • Suhas Budhe, MD, Biocare India
  • Rizwan Ahmed, CTO, Delaplex
  • Tanveer Mirza, President, Yashodhara
  • Dipesh Ajmera, MD, Ajmera Tyres
  • Faiz Wahid, Regional Head, Europe, Sagacious IP
  • Vidhula Venugopal, Chairperson, CfE

These mentors with an average experience of more than 19 years behind them have guided the incubates during this 6-month period. An average 27 hours of mentoring per mentor was provided during the course this programme.

The Women Startup Programme at NSRCEL, IIM Bangalore had 3 stages for funding support:

  1. Top – 100 startups: A total of Nine (9) startups incubated with InFED made it to the list. Their names are: Skillster Employability Solutions, Ikshana, Pikkup Logistics, Satvik Agro, Organic Amrit, Prian eCharge+, Volar Alta, Anatomech Ltd., SetMyCart;

A seed fund of Rs. 50,000/- was given as grant to each of these startups.

  1. Top – 40 startups: A total of Five (5) startups incubated with InFED made it to the Their names are: Organic Amrit, Prian eCharge+, Volar Alta, Pikkup Logistics, SetMyCart.

A seed fund of Rs. 75,000/- was given as grant to each of these startups

  1. Top – 20 startups: The results are under

Individual achievements by incubates:

  1. Ikshana (Founder: Ms. Sareyna Khan) – has started exports of her products to international markets;
  2. Oeco Healthcare Pvt. Ltd. (Founder: Dr. Sonal Dhabekar) – ‘Research & Innovation Circle of Hyderabad’ (RICH), Science & Technology cluster of the Principal Scientific Advisor to the of India awarded product development grant of Rs. 11 lacs;
  3. We aR Solutions (Founder: Dr. Kavita Pande) – ‘Winner of Ideas for New India Challenge 2020’, by the Ministry of MSME, of India awarded with a product development grant of Rs. 12.75 lacs;
  4. Dobby The Chef (Founder: Ms. Dhanashree Ambaselkar) – ‘Winner of Ideas for New India Challenge 2020’, by the Ministry of MSME, of India awarded with a product development grant of Rs. 12.75 lacs;
  5. Divyakshi Kaushik and Dr. Sonal Dhabekar secured chapter runners-up positions in the ‘TiE Women Global’ competition organized by TiE Pune and TiE Nagpur respectively.

Networking Opportunities:

  • 5 incubates virtually attended the Sweden Foodtech Festival;
  • Introductions of 5 startups were made with Maharashtra State Innovation Society;
  • 12 incubates have been introduced to technical and market experts in the country through mentors;
  • A session with Toronto Business Development Center, Canada was held to introduce the incubates to TBDC’s start-up visa program;

Programme Team:

  • Programme Director: Vidhula Venugopal;
  • Programme Manager: Shivaji Dhawad;
  • Programme Intern: Swasti Chandorkar.
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Women Startup Programme 2020-21
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The InFED was involved in entrepreneurship education of aspiring women entrepreneurs from the states of Maharashtra and Chhattisgarh.
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THE POLICY TIMES
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