June 2022; Udaipur: To encourage and support women’s participation in tech, data, and management careers, IIM Udaipur’s Incubation Center inaugurated the First Batch of the new Women-in-tech Accelerator Program. This 12-week participant-centered accelerator program, powered by the Department of Science and Technology will be focused on supporting highly innovative and scalable women-led tech ventures. The course is designed for female founders who aspire to acquire the tools, knowledge, and connections to take their startup to the next level. Each qualifying startup receives up to ₹50,000 in cash prize, extensive training, mentoring and technical guidance, as well as introductions to corporate leaders and industry experts, networking opportunities with potential investors, and ongoing advisory support for next 12 months. Eligible startups can now apply to the first batch of this program, the Women-in-Tech Accelerator program.
According to IDC, only 24% of women hold senior leadership positions in technology. As a result, this course is based on the premise that gender diversity in the workplace adds enormous value to the business, the economy, and society.
Commenting on the launch of the WiT program, Suresh Dhaka, CEO at IIM Udaipur’s Incubation Center said, “The absence of adequate diversity, equality, and inclusivity in the global technology sector, particularly in terms of women’s representation, has become a mainstream concern. At IIM Udaipur Incubation Center, we encourage more women to join us in technical roles, where they may have a better grasp of their clients, the best business model for their company, different sources of finance, and knowledge on how to build good commercial partnerships. We are hoping to scale a total of 15 women-led technology firms through this program.”
The accelerator program is ideally suited for seed to early-stage revenue-generating tech businesses that are based in India and have Indian founders and operations. The following are the prerequisites for this course:
- The woman should be a member of the founder’s team with a significant equity stake or in a position of C-suite leadership
- Deep-tech startups that leverage technologies like AI, machine learning, augmented reality, virtual reality, blockchain, and others are preferred.
- The applicant should have achieved some degree of validation/traction – should have a minimum viable product or service with a market fit, viable commercialization, and scope of scaling
- And be legally incorporated and in existence for more than a year
Based on the above criteria, IIM Udaipur Incubation Center will select 15 women entrepreneurs for the Acceleration Program through a two-stage competitive procedure. Part 1 of the process entails filling out an application form, and Part 2 entails interviews with the candidates who have been shortlisted. The closing date for submitting the applications is June 15, 2022.