On Monday, 20th January, the FICCI Ladies Organization (FLO) in Hyderabad entered into a collaboration with WE Hub, an initiative by the Telangana government, aimed at offering incubation support for women entrepreneurs.
The Hyderabad Chapter of the organisation also conducted a Round Table Ask for Entrepreneurs (RTAE), which saw several interactions between the attendees, going on for almost three-hours. During the interactions, FLO Chairperson Sona Chatwani said that this collaboration would allow the organisation to help many of the entrepreneurs present, and guide them on scalability and opportunity creation.
The organisation also believes that the association with WE HUB will further develop the entrepreneurial culture, transforming business ideas and enhancing the country’s economic workforce.
The chairperson, while welcoming the attendees of the interaction panel, also said that their members had often spoken at the Inhub kiosk about the importance of business networking. They had also discussed areas like increasing product visibility, the need to scale up, GST workshops, investment and incubation ideas, and more. This showed the need for FLO to be more involved with their members, and provide advanced guidance and advice, she said.
As such, she also added, an industry expert and consultant from the relevant field will also address the event, with whom, they had collaborated and empanelled on the FLO RTAE board. The interaction is aimed at helping promote Start-ups, Early-stage businesses, and Established businesses, by offering new products/new directions for their ventures.
Ms.Deepti Ravula, CEO of We Hub – for startup and acceleration for existing business, also spoke about the organisation’s role and how members can leverage it, as it is driven by its goal of helping women entrepreneurs become employment generators.
As India’s first State led incubator, We Hub aims to promote and foster women entrepreneurship, through Incubation, improved access to the government, and a collaborative ecosystem. She salso said that the goal is to help all women entrepreneurs in the country gain access to the technical, financial, governmental, and policy support required for starting and scaling up a business, and bringing about growth through global market access.
According to financial consultant Kartik Damodar, financial mismanagement is the primary reason why around 40 per cent of Indian startups fail.
Representing more than 6800 women entrepreneurs, professionals, and corporate executives, FLO is an all India Organisation for women with its headquarters at New Delhi, and 16 Chapters, all across India. The Hyderabad chapter added as many as 121 new members in the previous year itself, bring its current strength to 741 members.