Hyderabad, India, March 20, 2023 – WE Hub, India’s first and only state-led incubator, by the Government of Telangana, in partnership with SAFA Society, has today launched Project Ujaagar, a new initiative to formalise and improve financial literacy for minority women-led businesses in Telangana. The programme aims to improve the socio-economic conditions of the minority community’s infrastructure and promote entrepreneurship among minority women by providing various programmes and amenities to improve their quality of life.
The project was launched by Dr Jayesh Ranjan, IAS, Principal Secretary, ITE&C Department, Government of Telangana, during an event held at WE Hub. The event included a welcome address by Ms. Deepthi Ravula, CEO, of WE Hub, and addresses by Chief Guest Dr Jayesh Ranjan, IAS, and Guest of Honour Shri. Amir Ullah Khan, IAS (Retd.), among others.
The 1.5-month-long intervention programme, consisting of four fundamental tracks conducted weekly, will cover topics such as statutory compliances, business models, marketing and sales, legal and finances, and upskilling. It will also provide tailored programmes at no cost to participants, introduce essential guidance and facilities to promote business, build a strong community of founders, and induce skill development through building a business.
During the launch event, Dr Jayesh Ranjan, IAS, Principal Secretary, ITE&C Department, Government of Telangana, said, “WE Hub will validate and support women to scale their current businesses and encourage new ones. The only ask from entrepreneurs is to stay consistent, make use of the opportunities, and advance further in terms of socio-economic status.”
Deepthi Ravula, the CEO, of WE Hub, said, “We’ve observed over the past five years that businesses led by women often lack proper registration, financial literacy, accounting skills, and tools to enhance their operations. Our partnership project, Ujaagar, with SAFA Society and WE Hub aims to tackle these challenges faced by women-led businesses in Telangana. By offering this programme, we aspire to create a robust community of founders who can learn from each other and grow together.”
The programme will target 150 aspiring women entrepreneurs or existing businesses per year and aim to formalise 50% of them. In addition, WE Hub will also be hosting WE Talks monthly or bimonthly, providing further opportunities for learning and growth.
Rubina Mazhar, founder and CEO of SAFA Society, said, “Partnerships help to align goals and complement each other. “The collaboration between WE HUB and SAFA will help SAFA’s micro-entrepreneurs explore business deeper, and WE HUB will attract a new demographic and dimension to its model.”
Over the past 5 years, WE HUB has incubated 3194 start-ups by women founders and successfully engaged with over 5,000 women entrepreneurs, 1247 students, 986 social impact entrepreneurs, and 609 urban entrepreneurs. The incubator has been actively working towards enabling Women-led start-ups across sectors to scale and accelerate through global market access.