Udyam & 360 ONE Foundation Empower 2k Rural Women Entrepreneurs

By: WE Staff | Wednesday, 11 September 2024

She Leads Bharat: Udyam and 360 ONE Foundation have partnered to provide access to formal finance to small women businesses in rural villages. The initiative aims to boost income for these women, who learn less than INR 2,000 per month. Blended finance helps build creditworthiness and unlock access to formal capital, bridging the gap in access to loans and financial services for rural women entrepreneurs.

The initiative She Leads Bharat: Udyam has been anchored by Frontier Innovations Foundation, Frontier Markets, and Saral Jeevan India Foundation and supported by Mastercard and Airtel Payments Bank. The coalition was launched at the World Economic Forum in Davos in order to advance women's empowerment in India. Despite constituting 20 per cent of MSMEs, women-owned businesses receive only 5 per cent of financing and need digitization and training. Supporting women entrepreneurs can drive inclusive economic growth, hiring women, and reinvesting income into families and communities.

Frontier Markets and 360 ONE Foundation have partnered to empower 2,000 small women-owned businesses in Rajasthan and Uttar Pradesh through returnable grants, zero-interest and collateral loans, and capacity building. The project aims to increase monthly incomes and unlock additional formal capital for business sustainability. The CSR-compliant approach aligns with the CSR Act's Activity II of Schedule VII, promoting education and employment enhancing vocational skills. The project is unique in building entrepreneurial capacity and connecting women with market partners, while also providing a pathway for accessing formal finance.