Kotak Mahindra Bank Partners IIM Bangalore and NSRCEL for Nurturing Women Entrepreneurship

Kotak Mahindra Bank Limited (“KMBL/ “Kotak”), Indian Institute of  Management Bangalore (IIMB) and NSRCEL- the start-up hub at IIMB announced their CSR partnership to implement the Women Startup Program (WSP 4) to support women by developing  their entrepreneurial and managerial skills. The program, launched under KMBL’s CSR project on  Education & Livelihood, aims to support ambitious and innovative women entrepreneurs by enabling  them to transform their ideas into successful business ventures. 

NSCREL at IIMB started the Women Startup Program in 2016 and has constantly reinvented itself  and addressed the needs of women entrepreneurs at every stage in their entrepreneurial journeys.  It has incubated 400+ female led and owned start-ups.  

WSP 4 is the fourth edition of this program by NSRCEL - the centre for excellence on innovation and  entrepreneurship at IIMB. WSP 4 will incubate early-stage companies founded by women  

entrepreneurs that demonstrate the potential to innovate, implement and create social or financial  impact, especially in tier-2 and tier-3 cities. 

The program commences with a five-week training through Massive Open Online Course (MOOC) to  be offered on the digital learning initiative of IIMB, IIMBx platform, for all applicants of WSP 4. In the  next phase, shortlisted women will be chosen for a three-month-long virtual pre-incubation program  

designed by NSRCEL. In the final phase, shortlisted women entrepreneurs will be selected for  incubation for 12 months by NSRCEL based on their prototypes and their pitches to the screening  committee. During incubation, the entrepreneurs would work towards product/ prototype  

development. They will be assessed based on their performance and growth against the milestones  set at the beginning of the incubation phase. At this stage, top entrepreneurs will also receive  funding support to grow their ventures.  

Professor Rishikesha T Krishnan, Director, IIM Bangalore, said: "Our CSR partnership with Kotak  Mahindra Bank will enhance the entrepreneurial and managerial skills of women business leaders by  supporting the incubation and funding needs of their ventures early in the ideation stage. I am  confident that the cohort of the program will build a vibrant ecosystem for women-led enterprises  across the country.” 

Rohit Rao, Joint President & Group Chief CSR Officer, Kotak Mahindra Bank Limited said, “With  NSRCEL’s Women Startup Program, Kotak Mahindra Bank is aiming to build the next layer of fruitful  business ventures run by women leaders. The participants will go through a rigorous process of  selection and training. WSP 4 will give flight to their imagination and dreams. “Naari Shakti” will  exhibit itself in full force when top-notch women of excellent calibre will strive to seek funding for  their business ideas.”

Kotak Karma is the Corporate Social Responsibility (CSR) identity of Kotak Mahindra Group companies.