Aiding women entrepreneurs by providing education around running a business
Challenge
To give high school girls the opportunity to learn more about technology, connect with Microsoft employees, and participate in hands-on technology workshops.
To solve entrepreneurial challenges— both economical and societal, IIMB has become an academic partner of ‘Goldman Sachs 10,000 Women’ in India and will expand this proven program to reach more women entrepreneurs.
Challenge
Action
The program solves the everyday roadblocks that women entrepreneurs face to suggest ways of dealing with them. Participants work on strategy, finance & accounting, business development and receive feedback from mentors, professors to shape their plans.
Results
Globally, 70 percent of graduates have reported higher revenues and nearly 60 percent have created new jobs.
Goal
The main objective of 10,000 Women is to nurture economic growth by offering women entrepreneurs across nations with business and management education, mentoring and networking, and access to capital. In this one-of-a-kind program, women entrepreneurs are empowered with a holistic approach to grow and scale their businesses. This program zeroes in on the everyday hurdles that women entrepreneurs confront whilst running their businesses and prescribes effective measures to deal with them.
Action
The participants will focus on strategy, finance and accounting, and business development, amongst other topics. A simultaneous feedback process from mentors and professors, show them the way to craft efficient and executable business growth plans. This year’s 10,000 Women program is for businesses, which have been for at least one year with minimum annual revenue of INR 35 lakhs and at least three employees. It’s a 15 days classroom sessions (spread over three months) at IIMB campus, in addition to mentoring support, business growth plan preparation, and post-program alumni activities..
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Impact
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10,000 Women the initiative has already reached more than 10,000 women from 56 countries to date, partnering with more than 30 leading business schools and 100 academic and non-profit partners.Since 2008, over 1,300 women entrepreneurs have graduated from Goldman Sachs 10,000 Women throughout 13 cities in India. Globally, 70 percent of graduates have reported higher revenues and nearly 60 percent have created new jobs.
Takeaway
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Arranging this type of sessions is an archetype of an exemplifying model of women empowerment in the enterprise arena. Empowering them with all the requisite resources not only gives women entrepreneurs the power they need to excel, but also plays a key role in further encouraging women to become leaders.