EmpowHER Biz Initiative

10.01.2025

EmpowHER Biz Initiative

Why in the news?                        

           The Women Entrepreneurship Platform (WEP) of NITI Aayog, launched EmpowHER Biz – Sapno Ki Udaan in partnership with New Shop, India’s convenience retail chain under its Award to Reward (ATR) program.

About EmpowHER Biz Initiative:

• It is a part of Women Entrepreneurship Platform of NITI Aayog, aiming to create a robust retail ecosystem that empowers women entrepreneurs and drives sustainable growth in the sector.
• It will offer mentorship and comprehensive training, covering retail management, digital tools, financial literacy and business development to aspiring women entrepreneurs.
• Under the initiative, 50 participants aged 18–35, will be selected through an online application process based on specific criteria.
• Top 20 of these participants will receive a 100% waiver on New Shop franchise fees, empowering them to own and operate their retail businesses with significantly reduced barriers to entry.
• The program is being launched for women from Delhi NCR, Punjab, Rajasthan, Uttar Pradesh, Haryana, Madhya Pradesh, and Gujarat.

About Women Entrepreneurship Platform:

• It was launched in 2018 by NITI Aayog as an aggregator platform, transitioned into a public-private partnership in 2022.
• It aims at empowering women entrepreneurs by overcoming information asymmetry and providing continuum of support across different pillars- Access to Finance; Market Linkages; Training and Skilling; Mentoring & Networking; Compliance & Legal Assistance and Business Development Services.
• With over 30 public and private sector partners, it fosters collaboration to develop scalable and impactful programs that benefit women entrepreneurs.
• Since 2023, the ‘Award to Reward’ initiative under WEP offers a plug and play framework for stakeholders to develop impactful programs.

                                                                     Source: PIB

Consider the following statements regarding the ‘EmpowHER Biz’ initiative:

Statement-I:It offers mentorship and comprehensive training to aspiring women entrepreneurs.

Statement-II:It is an initiative of the Union Ministry of Women and Child Development.

Which one of the following is correct in respect of the above statements?

A.Both Statement-I and Statement-II are correct, and Statement-II is the correct explanation for Statement-I.

B.Both Statement-I and Statement-II are correct, and Statement-II is not the correct explanation for Statement-I.

C.Statement-I is correct, but Statement-II is incorrect.

D.Statement-I is incorrect, but Statement-II is correct.

Answer C