M N Vidyashankar, Principal Secretary, Commerce & Industries, Govt of Karnataka, has just (on November 19) announced an incubator for women entrepreneurs in Bangalore.
Announcing this at the Weconnect conference, he said: “We are the first state in the country to start a state-sponsored angel funding scheme for entrepreneurs. Via the first tranche, we have invested in 17 companies. And by the second tranche, we have financed 11 companies. The third, which will be announced soon, will be much larger.”
“The incubator exclusively for the women will be part of the third tranche of our angel fund,” he added.
The Karnataka state government is working with educational institutions and industry networks to make this a huge success and support women starting companies.