HYDERABAD: State-led women’s exclusive incubator, WE HUB, on Wednesday said it has inked a memorandum of understanding (MoU) with
Ramagundam Municipal Corporation (RMC) for setting up its satellite office in RMC.
As part of the MoU, WE HUB will work towards ‘Project Inclusion’ that will lead to setting up of 500 women-led businesses in the RMC region by November 2021.
The MoU was inked by RMC commissioner
Uday Kumar and WE HUB CEO Deepthi Ravula in the presence of
Telangana IT and industries principal secretary
Jayesh Ranjan.
WE HUB and RMC will develop this as a role model project in the country by not just bringing more women into the workforce but also creating enterprises led by businesswomen who will generate employment in the municipal corporation area.
State Bank of India has been onboarded as the exclusive banking partner for this project.
Commenting on the development, Jayesh Ranjan said, ‘There is no tool more effective for women than their economic development, which has a direct proportional improvement in the economy of the country. I am happy to see WE HUB and RMC coming together to help the women of Telangana realise their economic, social, and financial goals.”
Deepthi Ravula of WE HUB said: “Women-led businesses have in some ways stagnated due to digital and financial non-inclusion. Our finding has been that entrepreneurs thrive when government, financial institutions, entrepreneurship enablers like WE HUB come together to provide policy, financial and incubation support.”
Uday Kumar, commissioner, RMC, said, “We are working with WE HUB to ensure that sustainable women-led enterprises are created by leveraging technology and promoting digital and financial literacy among the aspirational businesswomen.”