Minister for Information Technology K. T. Rama Rao announced at the end of the summit that WE-Hub would be modelled on the lines of T-Hub, the country's largest technology incubator which earned appreciation at the summit.
As the summit was focused on women entrepreneurs, the state government decided to set up the facility to help women startups.
Rao also announced the setting up of a Technology Fund (T-Fund) with a corpus of Rs 15 crore exclusively for women entrepreneurs. The women entrepreneurs can get Rs 25 lakh to Rs 1 crore under this fund.
Announcing the third initiative, the minister said women entrepreneurs will get one-fourth share in 25 per cent of the total procurements made by the government from the private sector, mostly SMEs.
NITI Ayog CEO Amitabh Kant announced that the Atal Innovation Mission of the government of India would partner with the state government for these initiatives.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.
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