Hyderabad: Telangana’s startup incubator for women entrepreneurs, WE-Hub on Friday announced the setting up of a revolving fund for women-led businesses incubated at WE-Hub.
The vision behind creating this fund was to financially enable women across the spectrum, in view of the repercussions of the pandemic. A Murali Krishna Reddy, chairman, MAK Group of Companies, supported the mission of WE-Hub with a revolving fund to reach the most deserving small business entrepreneurs in India.
WE-Hub CEO Deepthi Ravula said that the incubator is also looking at other corporates and enterprises to come forward to offer support to women entrepreneurs through their CSR activities. “Amid pandemic, WE-Hub has been adapting to these crucial times and exploring new ways to support and sustain the businesses of the startups. We are looking forward to connecting with corporates and CSR, who would like to support startups’’ she said.
The first tranche of the fund was disbursed to five entrepreneurs incubated at WE-Hub from nutraceuticals, manufacturing, and food processing sectors. These entrepreneurs were shortlisted out of 30 women entrepreneurs, based on the scale of impact of the pandemic on their business, their current financial standing and projected financial growth of their enterprises.
WE-Hub has worked with the beneficiaries to set milestones for their business enterprises and their progress along with their financial standing will be mapped and shared with all stakeholders involved, every quarter.
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