Tejaswini: Women Entrepreneurship Funding

Starting to move beyond tradition to achieve empowerment through informed choices.

Women’s entrepreneurship financial support is one of the fundamental elements of women’s empowerment; however, things do not take off simply by providing an opportunity or a set of possibilities. The real challenge is in effective communication—reaching out to the target group, assisting them in making an informed decision, expanding the perspectives of their opportunity basket, familiarising themselves with market options, encouraging the development of functionalities, attempting to make technology accessible, and, most importantly, to provide legal expertise on all aspects of financing and collective bargaining agreements.

Development policies centred on women’s empowerment must account for not only providing financial support for entrepreneurship, but also uplifting women to make informed decision based on the information about opportunities, organisational behaviour, market fundamental concepts, and entrepreneurial basics, in moreover to a carefully planned skill development ecosystem linked to self-employment.

The census also noted only 5.9 percent of the women as wage workers or wage earners. Tejaswini can work wonders as a self-employment or entrepreneurship initiative that can provide meaningful employment to women in the areas of the economy of their choice and generate a chain reaction for any further employment generation as business opportunities grow.

The scheme demonstrates a strong commitment to financing women’s entrepreneurship in order to generate avenues for self-employment. Tejaswini aims to provide Rs 5.00 Lakh in financial assistance to women between the ages of 18 and 35 who want to start their own businesses. The bank’s Mudra finance is backed by a 22% investment by Mission Youth, which includes a 10% upfront subsidy and 12% of the approved project cost towards interest repayment, i.e. 1.10 Lakh for a Mudra finance of Rs 5.00 Lakh.

In addition, applicants under the scheme are offered customised skill-development courses, value addition, and market-linkage, bringing together various schemes.

More than 400 women received a grant of Rs 10.00 Cr including Rs 2.20 Cr financial assistance by Mission Youth. Analysis of entrepreneurship preferences received under Tejaswini scheme suggests there is a lot of scope for improvement in creating awareness about various entrepreneurship avenues. Tejaswini is a specially designed scheme for women to help them bridge these gaps. However, aspiring female entrepreneurs must look beyond traditional industries for opportunities. Access to banking and financial institutions continues to be an important factor in efforts to provide women with financial independence.

There are several other initiatives for women’s empowerment besides Tejaswini.

Women’s Empowerment Plans

• Mahila E-haat: This scheme, created by the Ministry of Women and Child Development, is a direct online marketing platform designed to assist female entrepreneurs. This is part of the ‘Digital India’ initiative as well. You can register at www.mahilaehaat-rmk.gov.in.
• Beti Padhao and Beti Bachao: Female foeticide is being eradicated through this social campaign. It also raised awareness about the services available to young Indian girls in need. The ‘Save the Girl Child’ campaign was launched on January 22, 2015, as a joint initiative of the Ministries of Women and Child Development, Health and Family Welfare, and Human Resource Development. One-Stop-Shop Scheme
• This scheme is popularly known as ‘Sakhi.‘ The ‘Nirbhaya’ fund was used to implement it on April 1, 2015. One-Stop Centres are being established throughout the country to provide victims of violence with shelter, a police desk, legal, medical, and counselling services all under one roof, as well as a 24-hour helpline. 
• Hostels for Working Women: The primary goal of this programme is to increase the availability of safe and convenient working-women housing. It also provides daycare for their children wherever possible, from urban to semi-urban to rural areas where women can work.
• STEP: The Support to Training and Employment Programme for Women (STEP) Scheme exists to provide women with skills that increase their employability, as well as competencies and skills that allow women to become self-employed/entrepreneurs. It will be determined by the nature of the activities to be undertaken, as well as the number of beneficiaries. Agriculture, Horticulture, Food Processing, Handlooms, Tailoring, Stitching, Embroidery, Zari, and other Handicrafts, Computer and IT-enabled services are among the sectors. It also includes soft skills and workplace skills such as spoken English, gems and jewellery, travel and tourism, hospitality, and so on.