Government Expands 'Swavalambini' Initiative to Boost Women Entrepreneurs
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Synopsis
The Ministry of Skill Development and Entrepreneurship, in partnership with NITI Aayog, expands the 'Swavalambini' program to enhance women's entrepreneurship in India by offering vital skills, resources, and mentorship.
Key Takeaways
- Launch of 'Swavalambini' to empower women entrepreneurs.
- Program includes training, mentorship, and funding.
- Targets female students in higher education institutions.
- Multi-stage training model for entrepreneurship development.
- Award initiative to recognize outstanding women-led ventures.
New Delhi, March 1 (NationPress) The Ministry of Skill Development and Entrepreneurship (MSDE), in partnership with NITI Aayog, has unveiled the broadened scope of 'Swavalambini' – an entrepreneurship program designed to uplift more female business owners across the nation.
This initiative was launched simultaneously at Chaudhary Charan Singh University in Meerut and various higher education institutions throughout India. Its objective is to bolster women entrepreneurship in the country by providing female students in higher education institutions (HEIs) with essential skills, resources, and mentorship required for successfully establishing and growing their enterprises.
The National Institute for Entrepreneurship and Small Business Development (NIESBUD) is responsible for implementing 'Swavalambini', which employs a systematic approach to navigate young women through various phases of entrepreneurship.
The program encompasses awareness building, skill enhancement, mentorship, and financial assistance. By acknowledging and advocating for women-led initiatives, this program aspires to set a benchmark for future female entrepreneurs in India.
“Our goal is to transcend programs that merely label women as beneficiaries; we aim for women-led development initiatives,” stated Jayant Chaudhary, Minister of State for Skill Development and Entrepreneurship (MSDE) and MoS for Education.
“By dismantling barriers and equipping women with the appropriate resources, training, and financial backing, we can reveal their true potential. Swavalambini was initially launched in various institutions in the eastern region, including IIT Bhubaneswar, Utkal University in Odisha, and several colleges in Meghalaya, Mizoram, and Assam,” the minister added.
The program is now extending to additional regions of India. During the launch event in Meerut, it was virtually introduced at Banaras Hindu University (BHU), the University of Hyderabad, and Maulana Azad National Urdu University.
This initiative employs a multi-stage training model that commences with a two-day entrepreneurship awareness program (EAP) for 600 female students, familiarizing them with business concepts and market possibilities.
Following this, the Women Entrepreneurship Development Program (EDP), a comprehensive 40-hour training course for 300 selected participants, covers business development, financial accessibility, legal compliance, and marketing strategies.
Moreover, participants will benefit from six months of mentorship to assist them in transforming their ideas into viable businesses.
To ensure lasting impact, Swavalambini also features a Faculty Development Program (FDP), which trains educators to support and mentor aspiring female entrepreneurs.
The initiative will also honor exceptional women entrepreneurs through an Award to Rewards Initiative, motivating future participants.
