MSME Desk Funding for Women Entrepreneurs through RBI-HDFC Bank Partnership
The IIM Ahmedabad-incubated startup ecosystem CIIE.CO has partnered with the Reserve Bank of India's (RBI) innovation hub RBIH to support women entrepreneurs through the Swanari Techsprint 2023 programme. The annual programme aims to enhance access, usage, and quality of financial services for women in India. The selected startups will receive a paid Proof of Concept (POC) opportunity with HDFC Bank and pre-seed investment support at CIIE.CO, along with access to mentoring and networking opportunities.
Key Takeaways:
- CIIE.CO has partnered with RBIH for the Swanari Techsprint 2023 programme to support women entrepreneurs.
- The programme focuses on developing and supporting innovations in technology that enhance access, usage, and quality of financial services for women in India.
- The selected startups will receive a paid POC opportunity with HDFC Bank and pre-seed investment support at CIIE.CO.
- Women entrepreneurs own and lead less than 20% of the MSMEs in India, with access to capital being a significant barrier.
- RBIH has launched a pilot project of RBI's Public Tech Platform for Frictionless Credit to focus on non-collateral MSME loans, Kisan Credit Card loans, dairy loans, personal loans, and home loans.
- Out of over 2 crore businesses registered on the Udyam registration portal, 19.43% were owned by women, as per the data shared by Bhanu Pratap Singh Verma, Minister of State in the MSME Ministry.
Statistics:
- 19.43% of over 2 crore businesses registered on the Udyam registration portal are owned by women.
- Women entrepreneurs own and lead less than 20% of the MSMEs in India.
- 2 crore+ businesses are registered on the Udyam registration portal.
Sources:
- IIM Ahmedabad's startup incubator CIIE.CO
- Reserve Bank of India's subsidiary Reserve Bank Innovation Hub (RBIH)
- IE Online Media Services Pvt. Ltd.
- Contify.com