TS We-Hub: Telangana IT and industries Minister K.T. Rama Rao announced a move to set up an innovation hub for women on the lines of T-Hub. After the conclusion of the Global Entrepreneurship Summit 2017, KTR along with NITI Aayog CEO Amitabh Kant addressed the media that Telangana government is launching three initiatives for women entrepreneurs. KTR announced We-Hub and Rs.15 Crore fund is being planned for them and they would extend the financial help ranging from Rs.25 lakh to Rs.1 Crore.
“The Government also decided to take a policy decision to procure Government requirements from women entrepreneurs. As of now, a fourth of Government requirement is procured from MSMEs and of this at least 20 percent would henceforth be procured from women enterprises,” he said.
T-Hub is a public-private partnership between the Telangana Government and India’s premier academic institutes. The three institutes associated with the T-Hub are Indian School of Business, International Institute of Information Technology-Hyderabad, and the National Academy of Legal Studies and Research and key private sector leaders.
NITI Aayog CEO Amitabh Kant said that it would support the We-Hub with funds under Atal Innovation Mission which focuses on encouraging entrepreneurship in the country. KTR said that the government would change the procurement policy to enable the procurement of one-fourth of the mandated 20 percent purchases from SME (small and medium-sized enterprises) sector. They have decided to roll put three initiatives for women entrepreneurs after the successful completion of Good and Services Tax (GST).
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