* Innovative three-part educational initiative provides women entrepreneurs in India with an enhanced understanding of business finance and prepares them to raise capital
NSRCEL?the incubation arm of IIM Bangalore (IIMB) and Goldman Sachs 10,000 Women today launched “Goldman Sachs 10,000 Women Finance for Growth,” a new initiative in India designed to equip women entrepreneurs with an enhanced understanding of business finance and provide mentoring and networking opportunities to accelerate their fundraising journey.
This financial education initiative draws on findings from a study of over 2,400 Goldman Sachs 10,000 Women graduates across India. A majority of these women entrepreneurs highlighted the need for a deeper understanding of the available funding options and how best to access external capital to drive business growth. The study found that 40 percent of entrepreneurs used bank overdraft, 38 percent took business loans, and 33 percent sought capital from friends or family to address their business financing requirements.
Charlotte Keenan, Global head of Goldman Sachs 10,000 Women, said: “Goldman Sachs 10,000 Women graduates have positively impacted India’s economy by quadrupling their business revenue, doubling their workforce, and collectively creating 12,000 new jobs. Our new initiative aims to help these women make an even bigger impact, by providing the tools and resources needed to access capital - the biggest barrier they face to growing their businesses further.”
Talking about this unique initiative for women, Anand Sri Ganesh, COO, NSRCEL shared, “We are extremely happy to join hands with the Goldman Sachs 10,000 Women Finance for Growth initiative and bring it to NSRCEL. This underlines our commitment to supporting women entrepreneurs across the country by providing them with relevant education and mentorship to grow and scale their ventures. We hope our women alumni make the most of this opportunity to spot and nurture new opportunities in business, build and grow successful ventures and transform themselves.”
Goldman Sachs 10,000 Women Finance for Growth comprises three modules. Participants first take a basic finance module currently open for Goldman Sachs 10,000 Women graduates in India. Upon successful completion of the first module, a second advanced finance module will be made available for a select group of high potential women entrepreneurs. The final module will include bespoke mentoring from IIMB faculty members, finance industry experts, bankers, venture capitalists and angel investors, to provide practical learnings and advice tailored to the specific needs of each entrepreneur.
The first cohort of the Goldman Sachs 10,000 Women Finance for Growth commenced on August 7, 2023.