India has carved its path in empowering women through different channels, one of which is entrepreneurship. Acknowledging the contribution of women entrepreneurs and fostering an environment that supports their ambitions, NITI Aayog, in collaboration with the United Nations, launched the Women Transforming India (WTI) awards. In a similar light, the Ministry of Skill Development and Entrepreneurship annually announces the National Entrepreneurship Awards aiming to acknowledge young first-generation entrepreneurs and ecosystem builders.
The Idea behind the Women Transforming India Awards
The Women Transforming India awards, now running in its fourth edition, are held in partnership with the United Nations. For its 2019 edition, Facebook-owned messaging platform WhatsApp collaborated with NITI Aayog to further elevate this initiative.
The underlying theme of the Women Transforming India-2019 awards was the same as the previous year, ‘Women and Entrepreneurship.’ This theme underlines the focus on women who are significantly contributing to the realm of entrepreneurship and making impressive strides in their respective fields.
National Entrepreneurship Awards: Supporting Young Talent
Aiming to honor the efforts of exceptional young, first-generation entrepreneurs, and those building the entrepreneurial ecosystem of India, the National Entrepreneurship Awards serve as a prestigious recognition. These awards are announced annually by the Ministry of Skill Development and Entrepreneurship.
A nominee for these awards must fulfil certain criteria:
| Criteria | Description |
|---|---|
| Age | Under 40 years |
| Entrepreneur type | First-generation entrepreneur |
| Business Ownership | Hold 51% or more equity and ownership of the business |
| Women Entrepreneurs | Individually or collectively own 75% or more of the enterprise |
Bridging the Gap: Women Transforming India Awards
Launched in 2016 by NITI Aayog and the United Nations in India, the WTI awards are a celebration of women entrepreneurs who defy stereotypes and overcome barriers through innovative business initiatives. These awards serve as a platform to recognize women who are steering the next wave of business innovation and connect with potential business opportunities.
To aid these women in their entrepreneurial journey, the NITI Aayog’s Women Entrepreneurship Platform (WEP) was established. This initiative is designed to promote and assist aspiring as well as established women entrepreneurs across India, providing them unified access to realize their entrepreneurial aspirations. Women are the future of India’s entrepreneurial landscape, and platforms like WTI awards and WEP serve as stepping stones towards their success.
Source: PIB