The women wing of the Federation of Indian Chamber of Commerce and Industry (FICCI), the FLO has come to an agreement with IIM Shillong and the Incubation Enterprise Support Centre (IESC) to promote women entrepreneurs.
In this regard, the three organizations signed a Memorandum of Understanding (MoU). All of them agreed to jointly provide support and mentorship to fledgling women entrepreneurs who are still working on their business.
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The plan is to facilitate a supportive, nurturing, and instructive environment during the beginning stages of a new business run by a woman. This would help them reduce the initial costs which come with the establishment of a new business and provide them with a strong foothold in the industry in a shorter time frame.
Ficci Ladies Organisation (FLO) president Jahnabi Phookan said in a statement that with the signing of the MoU, they would create a national incubation cell. There a sustainable ecosystem would be created with the help of FLO which would identify potential start-ups and provide them with the necessary support.
She further went on to say that this would help the nation create a self-relying entrepreneurial ecosystem for women which would empower them and help them become self-sufficient. Thus, instead of being job seekers, women would become job givers.
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In such a venture, the importance of other institutes and organizations was also necessary, and as such the IESC and IIM Shillong were taken into the fold. In a country where establishing a new start-up comes with a lot of difficulties and problems, the aim of these organizations was to help ease that process.
In an environment of support and mutual trust, the newly established businesses would find new and more ways to grow and increase. Many start-ups fail to go past their initial stages due to the difficulties associated with the process. FLO aimed to prevent that and instead help them grow easily.
The joint agreement was a significant part of the process since now, all the three organizations would be able to bring their strengths to the process and help the women entrepreneurs.
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