WE Hub has been selected under the Startup India Seed Fund Scheme to provide financial assistance to early-stage startups led by women entrepreneurs. Under the scheme financial assistance to startups for prototype development, market-entry, proof of concept, product trials and commercialization are provided.
As per the Startup India Seed Fund Scheme website, the seed fund will be disbursed through eligible incubators and WE Hub is one of the incubators selected. The Department of Promotion of Industry and Internal Trade under the Commerce and Industry runs this scheme.
“WE Hub has been selected for SISFS under the DPIIT to provide financial assistance of up to Rs 70 lakh to early-stage startups,” WE Hub said. It also added that women-led startups can apply for the fund at https://seedfund.startupindia.gov.in/.
As per the SISFS website, the call for applications from incubators and startups is full year-round, it is sector-agnostic, and has no mandatory physical incubation and the startups can apply to three incubators simultaneously.
The WE Hub is a State-led incubator promoted by Telangana to promote women entrepreneurship. Earlier, the WE Hub has announced ‘UPSurge’ a pre-incubation programme in collaboration with the Australian government. The program aims to help women entrepreneurs across India to achieve financial independence. WE Hub’s first international partner was Australia.
The WE hub has also signed an agreement for two years with the University of Bolton based in the UK. The partnership will help women entrepreneurs at the WE Hub get access to the UK market.
“I will also open communication with relevant ecosystem players for both parties for future collaborations,” Deepthi Ravula, Chief Executive Officer of WE Hub, said.
“The start-ups will get access to evaluate the business growth opportunities, market understanding and access to clients in the UK region,” she said.
