Why in news? ‘Swavalambane scheme was launched to support women-owned businesses

Highlights:

• The NSRCEL, the startup incubator of Indian Institute of Bangalore (IIM-B), along with Karnataka State Rural Livelihood Promotion Society jointly launched the Swavalambane programme
• Aim: To bring together 150 rural women entrepreneurs under one roof, providing them with networking opportunities and assisting them with financial support for business growth and success.
• Programme is supported by the National Rural Livelihood Mission (NRIM) under the National Rural Economic Transformation Project funded by the World Bank.

Features

• It aims to scale existing women-led microbusinesses across Karnataka’s tier 2 and tier 3 landscapes to elevate their businesses
• Programme provides them with access to a support ecosystem to engage with larger markets, become financially sustainable and generate local employment and help them transform into successful, scalable and sustainable businesses.
• It’s objectives to include supporting enterprises to become formal and legal entities, increasing revenue by 15 per cent for each enterprise and creating a replicable business model that can be adopted across Karnataka
• Participants will be supported on capacity building through programme module training and individual/group mentoring sessions to learn and develop key skills.