WE Hub sanctions Rs 4.5 crore fund to 13 women-led startups
Hyderabad: Telangana government-led incubator for women entrepreneurs WE Hub on Tuesday announced sanctioning of Rs 4.5 crore fund under the Startup India Seed Fund Scheme to support 13 women-led startups. This is the first investment by WE Hub since its inception and Rs 4.5 crore will be sanctioned in three tranches of which Rs 1.76 […]
Hyderabad: Telangana government-led incubator for women entrepreneurs WE Hub on Tuesday announced sanctioning of Rs 4.5 crore fund under the Startup India Seed Fund Scheme to support 13 women-led startups. This is the first investment by WE Hub since its inception and Rs 4.5 crore will be sanctioned in three tranches of which Rs 1.76 crore has been disbursed under first tranche.
With an aim to support women entrepreneurs who face challenges regarding finances, WE Hub applied to be an incubator under the Start-up India Seed Fund Scheme by the Government of India. And as an incubator under SISFS, Rs 5 crore was sanctioned to WE Hub. The incubator received 106 applications from 18 States out of which 13 startups were screened and selected.
These startups are from across different stages starting from the prototype stage to commercialisation stage. Amongst the startups received the funding are Arms4AI, Artfills, Sortizy, Laurik, Nurture Fields, Signel Biomedical, Dygnify were sanctioned Rs 50 lakh each while Abby, Bleu Cares, Cleanseats were sanctioned Rs 20 lakh each, and ShuShu Babies, and Blubot Robotics were sanctioned Rs 15 lakh each while Future Step has been given a commitment of Rs 10 lakh.
WE Hub CEO Deepthi Ravula said, “Access to finance is the most common challenge that we hear from all the women that we engage with. As a solution we are creating channels for women entrepreneurs to avail the capital essential at the early growth stage of their enterprises.”
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