City has potential to become a start-up hub: Experts

Tribune News Service

Neha Saini

Amritsar, February 3

In a push towards building a conducive business ecosystem to support women entrepreneurs, FICCI FLO hosted She Rises and MSME Startup Conclave at GNDU recently. The event was aimed at laying focus on scaling up startups and exploring opportunities for funding, mentoring, incubation and networking.

With an eminent panel of experts, including Dr Aarti Gupta, national head for FICCI FLO Start-ups and independent director with Jindal Stainless, Jitender Jain (JJ), founder of Kochartech and MaxLabs and Mick Walvisch, senior expert programa from PUM, Netherland, the conclave saw women entrepreneurs from Amritsar pitching in their ideas and gaining insights into the start-up market.

Dr Gupta, who has invested in over 25 start-ups till date, shared that Amritsar is a hub of future entrepreneurs. “The India story in vast landscape of start-ups and home grown small businesses is witnessing an unprecedented growth and the future cannot happen without women participation. All we need is access for training, mentorship and upskilling. Apart from the idea, the investors look for market landscape, competition, scalebility of the idea and as a founder, one has to be receptive to change,” she said.

She stressed on bridging the gap in funding for women-led business. “Last year, women-led start-ups received around 5 percent of the total funding that went in for start-ups in India. So, figures speak for themselves,” she said.

Jain, on the other hand, stressed on building ecosystems that support soft skills and focus on better internships. “Today, even someone in their 40s and 50s are working on their start-up, which highlights the potential of growth in terms of innovation. Team building is also important,” he said. He agreed with Dr Aarti in predicting that Amritsar has a huge potential to become an entrepreneurial hub in future.

The Amritsar FLO chapter, through chairperson Himani Arora, also unveiled a series of powerful initiatives, empowering women entrepreneurs and fuelling rural startups in Punjab, including Desi Mel, a brand of organically produced eatables by Mattewal village; and Ujjagar, a craft-based product line-up created by women inmates of the Amritsar Central Jail.

Himani also briefed about the Shepreneur initiative by FLO, “The ‘Shepreneur’ initiative, a pioneering effort by FLO, has redefined the start-up landscape, offering unprecedented avenues for growth to

women-led ventures. In a strategic alliance with GNDU, FLO solidifies its commitment to knowledge exchange and innovation. This five-year partnership provides FLO access to

state-of-the-art facilities, national and international seminars, showcasing dedication to mentorship and talent cultivation. Four of our members have been registered at the incubation centre of GNDU for entrepreneurial boot camps and workshops,” said Himani.

Meanwhile, both Dr Aarti Gupta and Jitender Jain stressed on tapping potentially innovative and financially viable ideas from Amritsar as they encouraged more women to financially literate and turn investors for small, local businesses.

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