A techpark by the women, for the women and of the women in Karnataka soon
It’s another win for women in technology: a techpark for women by women, the first of its kind in Karnataka, is to be set up by the State government in Kanakapura taluk, around 40 km from Bengaluru, according to a report by Times of India. What is even more interesting is that the team behind the ambitious project, spanning 300 acres, from architects to contractors, is all-women. The Central government has given an in-principle approval, recognising it as a cluster for women with grants for common infrastructure.
Ratna Prabha, Additional Chief Secretary, Commerce and Industries Department, told TOI that the department has started receiving applications over the past few weeks from interested women entrepreneurs. The ventures range from IT, food processing, textiles, telecom, electronics and others with a planned investment of around Rs 135 crore. The techpark can give employment opportunities for nearly 3,000 people. The first phase of development will cover 100 acres and the rest will be developed in a phased manner by November 2016. The project was planned by the Karnataka government since there is no exclusive platform for women entrepreneurs in the State.
Facilities will include conference halls, restaurants and even grocery shops. Interested women entrepreneurs will be eligible for pre-approved priority loan from KSFC (Karnataka State Financial Corporation) and banks. By involving women from scratch, the venture would serve as a role model for future projects. The government plans to set up similar clusters for women in Mysuru, Hubballi, Dharwad, Belagavi and Ballari.
Schemes available for women entrepreneurs in India
The Micro, Small & Medium Enterprises Development Organisation (MSME-DO), the various State Small Industries Development Corporations (SSIDCs), nationalised banks and even NGOs are offering several programmes for women, including Entrepreneurship Development Programmes (EDPs).
In order to help prospective women entrepreneurs who may not have adequate educational qualifications and skills, MSME-DO has introduced process/product-oriented EDPs in areas like TV repairing, circuit boards, leather goods, and screen printing. ‘Outstanding Women Entrepreneurs of the Year’ will be chosen to further boost the morale of women entrepreneurs.
There are several other schemes of the government, like the Income Generating Scheme, implemented by the Department of Women and Child Development, which provides assistance for setting up training and income-generating activities for disadvantaged women to make them economically-independent.
Mahila Udayam Nidhi
This is a subsidy scheme for women entrepreneurs by Puducherry government. Women entrepreneurs setting up a new SSI unit in the service sector in the Union Territory of Puducherry can avail this scheme. As per the scheme, for a project cost of Rs 10 lakh, seed capital of 25 percent is provided and the balance 75 percent would be funded as a term loan (65 percent).
Mahila Vikas Nidhi
This scheme offers developmental assistance for pursuit of income-generating activities to women. Training and employment opportunities are provided to women through establishment of required infrastructure.
TREAD Subsidy Scheme for Women
Trade Related Entrepreneurship Assistance and Development (TREAD) Scheme for Women is provided by the Ministry of Micro, Small & Medium Enterprises. The government provides subsidy of up to 30 percent of the total project cost as appraised by lending institutions, which would finance 70 percent as loan assistance to women applicants. Women eligible under this scheme are those who have no easy access to credit from banks due to financial constraints and the inability to provide adequate security in the form of collaterals.
Bharatiya Mahila Bank
Bharatiya Mahila Bank is a unique bank in India formed with a vision of economic empowerment of women. The bank commenced operations in 2013 and currently has 45 branches across India. Bharatiya Mahila Bank focusses on women entrepreneurship, with special attention to underprivileged rural and urban women. Collateral-free loans of upto Rs 1 crore, like the ones below, is provided by Bharatiya Mahila Bank for women entrepreneurs.
- BMB Shringar – Loan for setting up beauty parlour/ spa
- BMB Annapurna – Loan for starting food business
- BMB Parvarish – Loan for setting up day-care centre
Mahila Coir Yojana
This was started to provide self-employment to rural women artisans in regions producing coir fibre. In rural households, converting coir fibre into yarn provides scope for large-scale employment and financial independence of women.