STEP, a woman-focused incubation and accelerator program, hosted its Fourth STEP Pitchfest 2023 on 15th April 2023 at Radisson, Udyog Vihar Gurugram.
The fest held different pitching sessions for the Idea stage, Pre-revenue stage and early growth stage start-ups and announced one winner in each category. The winners of the fest were awarded rewards and additional opportunities including Mentorship, shadowing an entrepreneur, additional investment opportunities and assistance for further preparations to get funded.
In collaboration with the University of Texas, a research study called ‘Navigating Challenges and Breaking Barriers: Women social entrepreneurs in India and Their Resilience in establishing their startups,' was also published at this event. The study has been authored and contributed by Bonita B Sharma (Ph.DPhDistant Professor, University of Texas at San Antonio), Akshay Bapte (Program Associate at STEP), Reinu Shah, (Founder and CEO at STEP) and Eusebius Small, Ph.DPhDsociate Professor, University of Texas at Arlington.
According to a company statement, the event promised greater access to mentoring, capacity building, and financing to help women entrepreneurs to scale up their businesses across India. It also announced its strategic partnership with FICCI FLO to empower women entrepreneurs across the country. The program aims to make a significant impact on women entrepreneurs by providing them with top-quality training, mentorship, and networking opportunities. The partnership intends to equip aspiring and established women entrepreneurs in various cities with the necessary skills and knowledge to succeed in their ventures
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Commenting on the launch of the study, a spokesperson from the University of Texas, said, "Our research suggests that several factors such as the geographical location, legal structure, age of the founder, and whether the founder is a first-generation entrepreneur have a notable impact on both the business operations and policy hurdles faced by startups."
Speaking on the partnership, Sudha Shivkumar, National President FICCof I FLO, said, “FICCI FLO has been working for 40 years to empower women entrepreneurs and professionals to become leaders in their fields and make a positive impact on society. We do this through various initiatives and programs focused on skill-building, mentorship, networking, advocacy, and community outreach. This partnership with STEP is to build on our mission and work with industry partners. “
Sharing a comment on the partnership, Aarti Gupta, National Head of FICCI FLO Startup, said, “Under FLO’s Startup initiative we envision taking up forward to create a more equitable, accessible, and empowered startup ecosystem for women in India. Along with STEP we intend to leverage our network in 19 cities and help create access, learning opportunities, and funding for women entrepreneurs.”
Speaking on the impact of the initiative, Reinu Shah, Founder and CEO of STEP, said, "STEP’s mission is to transform the landscape of women entrepreneurship in India and knit a supportive ecosystem for aspiring women entrepreneurs to thrive and lead. We are thrilled to have extended a platform to 30 potential entrepreneurs who showcased their disruptive ideas and startups to a panel of investors and mentors. We are grateful to our partners who supported us to provide wings to the promising entrepreneurial journey of these entrepreneurs.
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