The Indian Institute of Management (IIM-Kozhikode) in association with Mangalore Refineries and Petrochemicals Ltd. (MRPL) announced a drive Monday to support women entrepreneurs in the country. Termed as La Eve (meaning The Woman), this initiative aims to identify innovative female-founded start-ups to provide a comprehensive entrepreneurial support program.
The initiative would be steered by the institute’s entrepreneurship development centre, Laboratory for Innovation, Venturing and Entrepreneurship (IIMK LIVE) with the support of the start-up fund of the oil PSU, MRPL. Last year MRPL entered into an MoU with the institute and since then it has provided seed funds to over 11 start-ups at IIMK LIVE.
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Under the La Eve – a drive to support women-led start-ups, IIMK LIVE would identify women-founded start-ups and provide incubation that would provide access to the institute’s intellectual, network and infrastructural resources. MRPL would provide seed fund assistance from the start-funding initiative under start-up India Program.
“No economy can grow at its full potential if a section of human resource is not actively contributing to it. Promotion and support of women entrepreneurship can contribute significantly to the country’s economic goals,” said Professor Debashis Chatterjee, Director, IIM Kozhikode.
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The new ventures that fit the definition of start-ups are those registered under the Companies’ Act of India and are founded by a majority of women are eligible to apply.
Early-stage start-ups with the minimum viable product or at least a proof of concept would be considered. Selected start-ups would be provided seed support funds of up to Rs. 25 lacs, structured incubation program with task-based mentoring, access to professional services, co-working space, subsidised training and workshops with several other benefits on campus.
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