A consortium of women entrepreneur, Ubuntu and The Global Alliance for Mass Entrepreneurship (GAME) has together signed an Memorandum of Understanding (MoU). This MoU has been signed to enhance the growth of women entrepreneurship.
Madan Padaki, Co-Founder, GAME, said, “While women entrepreneurs face formidable challenges, the combination of new market platforms, peer-support networks, and role models, will make women entrepreneurs a force to reckon with before the end of the decade."
Minister for Large and Medium Scale Industries Jagadish Shettar, had attended the event, and stated that the women entrepreneurs have the potential to create transformational employment and generate about 150–170 million jobs. With the assistance of platforms such as GAME and Ubuntu. However, the government would also be taking initiatives of infrastructure and to strengthen the entrepreneurial ecosystem to help women sustain and scale their businesses. According to press report, about 70 percent of women entrepreneurs have been negatively impacted due to COVID.
Under this partnership, Ubuntu will galvanize stakeholders in the ecosystem such as government departments, financial institutions, and skills institutions to create a more supportive ecosystem for women entrepreneurship. “We look forward to some collaborative work and a sustained partnership,” states former Chief Secretary K. Ratnaprabha, founder and president, Ubuntu.
Jagadish Shettar, Minister of Large and Medium Scale Industries, Govt of Karnataka, said, “Together with the support of platforms like GAME and UBUNTU, we aim at making available the infrastructure and strengthening the entrepreneurial ecosystem to help women sustain and scale their businesses.”
Xcelerator Bengaluru is growth-focused accelerator program supporting up to 25 women-owned growth businesses every six months in Bengaluru to enable quick growth among select small businesses through a combination of formal learning programs, mentoring, expert sessions, and peer learning, in the areas of 3 Cs – Customers, Cash and Capacity.
Madan further adds, “GAME envisages that enabling women to establish and sustain entrepreneurial ventures is critical to the growth of mass entrepreneurship and this MoU is a small step towards it.”
