The NSRCEL at the Indian Institute of Management Bangalore (IIMB), which focuses on developing entrepreneurship throughout the country, announced today that it has become an academic partner of Goldman Sachs 10,000 Women in India and will expand this proven program to reach more women entrepreneurs.
10,000 Women is a global initiative that fosters economic growth by providing women entrepreneurs around the world with a business and management education, mentoring and networking, and access to capital. Founded on the understanding that investing in women entrepreneurs leads to economic growth and stronger communities, 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.
The NSRCEL of IIM Bangalore has a rich history of focusing on solving entrepreneurial challenges, both economical and societal. The institution has offered a range of educational and capacity building programs, incubation services, and mentorship support, both for startups and early stage ventures, including specialised programs for women entrepreneurs. Over the last decade, the NSRCEL has trained over 9,000 women through their diverse entrepreneurship programs.
10,000 Women is a one-of-its-kind program that provides women entrepreneurs with a holistic approach to grow and scale their businesses. The program addresses the day-to-day obstacles that women entrepreneurs face in the course of running a business and imparts effective ways of dealing with them. Participants of the program will work on strategy, finance and accounting, and business development, amongst other topics. Continuous feedback from mentors and professors will help them design efficient and executable business growth plans. Globally, 70 percent of graduates have reported higher revenues and nearly 60 percent have created new jobs.
“10,000 Women is a tremendous opportunity for women who run their own small businesses to dive deeper into their subject knowledge, develop and implement a growth strategy, and build a professional network that will support each entrepreneur on her path to continued growth,” said Professor Suresh Bhagavatula, Chair, NSRCEL, and faculty in the Entrepreneurship area at IIMB. “We are proud to work with Goldman Sachs to further expand this proven programme in India.”
“Today, through this partnership with IIMB, Goldman Sachs is expanding on our commitment to India's economic growth by continuing to invest in the potential of women-owned business,” said Sonjoy Chatterjee, Chairman and Co-Chief Executive Officer of Goldman Sachs in India. “This initiative will empower female entrepreneurs, who will create jobs and in turn strengthen the foundations of our local communities.”
Today’s NSRCEL Goldman Sachs 10,000 Women program is for current women entrepreneurs of businesses that have been in operation for at least one year with minimum annual revenue of INR 35 lakhs and at least three employees. The program will include approximately 15 days of classroom sessions (spread over three months) at the IIM Bangalore campus, in addition to mentoring support, business growth plan preparation, and post-program alumni activities. The first cohort of the program at IIMB is scheduled to start in January 2019 and end in March 2019.