Indian Economic Trade Organisation (IETO) in collaboration with business associations and entrepreneurs from across the world is setting up an International Women Startup Corridor (IWSC) in Hyderabad, a first-of-its-kind-initiative in the country. A seed fund of $2 million has been created for the corridor.
The IWSC corridor will begin operations in a week’s time from a 10,000 sq ft space in the Financial District, Gachibowli. Shadan Institute of Medical Sciences is providing its building for the corridor. About 800-1,000 women entrepreneurs, could be benefited by the corridor, as a part of the first phase.
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The corridor will encourage women entrepreneurs to systematically scale up their business and provide a platform for knowledge transfer. Entrepreneurs will be provided mentoring, networking, legal and compliance support, office infrastructure and financial assistance. It will also help provide entrepreneurial skill training and development to startup founders from ideation to implementation.
Bahrain is going to be the partner country for the corridor. Bahrain Businesswomen’s Society backed by 45 high net worth investors will explore investment and trade ties in Telangana. The corridor will also seek to establish closer ties with the Arab region.
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Indian Economic Trade Organisation president Asif Iqbal told Telangana Today, “The stable government in Telangana has been the key driver for international investors to look at creating such a corridor in Hyderabad. Startups in general and women startups in particular had been receiving encouragement from the State government and the ecosystem, and this made us to choose Hyderabad for India’s first such corridor.”
He added, “For Indian women entrepreneurs to understand the global market, networking has to happen. Mentoring, networking and investments will be the three key focus areas of the corridor. So we have provided such an opportunity through a networking meet, just before the commercial rollout of the corridor. There are 14 such corridors globally. Hyderabad is the first in India, which will be followed by Bengaluru, Chennai and New Delhi in the coming 6-12 months. IETO will curate the entire concept and oversee its implementation.”
Dr R Vijaya Saraswathy, founder director, IWSC Hyderabad, “We see potential of women entrepreneurs nurturing their businesses across sectors such as healthcare, wellness and education. We want to make the corridor benefit entrepreneurs not only in metros but also in tier-2 and tier-3 cities.”
Bahrain Businesswomen’s Society president Ahlam Yousif Janahi said, “Bahrain investors are keen to invest in India. We will also provide networking between Indian women entrepreneurs and global entrepreneurs and investors.”