CIIE.CO partners with RBI's Reserve Bank Innovation Hub to empower women-owned MSMEs

IIM Ahmedabad's CIIE.CO recently partnered with RBI's Reserve Bank Innovation Hub (RBIH) to launch Swanari Techsprint 2023 - an initiative of RBIH with a focus on advancing ‘End to End Digital Straight Through Process (STP) lending solutions for Micro to Medium-sized Women-owned Enterprises’.

CIIE said the edition of Swanari Techsprint is aimed at addressing the large credit gap faced by women-owned MSMEs. 

The Swanari Techsprint 2023 winners will have an opportunity to do a paid Proof of Concept (POC) with one of India’s leading financial institutions, HDFC Bank, and pitch for fast-track pre-seed investment at CIIE.CO. Selected startups will also gain access to CIIE.CO's extensive mentoring and networking opportunities provide them with a strong foundation for growth and success, the statement said.

Supriya Sharma from CIIE.CO said, "Swanari Techsprint 2023 aligns with our focus on financial inclusion, especially women’s financial inclusion. Women entrepreneurs own and lead less than 20% of the MSMEs in India. Among several other factors, access to capital is a huge barrier for women looking to set up and grow their businesses."

The RBI Innovation Hub said its Swanari program uses tech and innovation for 'Frictionless Finance for Every Woman in India'.

RBIH collaborates with the ecosystem through programs like TechSprint to build solutions for specific problems. The current TechSprint focuses on narrowing the gender gap with innovative digital lending solutions tailored for women entrepreneurs, the statement said.

It functions as a focal platform, bringing together members of financial, technological and academic institutions to promote and accelerate innovation across the financial sector.

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