The Virangana Project, named after famous warrior women in Indian history, is designed to support female entrepreneurs in India as they launch their start-up businesses.
It's a not-for-profit initiative supported by the Australia India Business Council.
This project aims to connect startup communities of Indian and Australia, and female entrepreneurs are at the centre of this project.
It’s open to Indian women from any industry, but especially those with a high-tech, fintech or social enterprise focus.
Anmol Saini, Chairperson of the advisory board on the Virangna Project says the overall intention is that it will throw a light on some of the best female innovators and entrepreneurs in India – a country where gender parity in female entrepreneurship is still among the lowest in the world ¬ by helping them to raise investment capital directly from international investors.
Ms Saini explained that under this project, top 12 successful female entrepreneurs would be paired up with high-profile Australian female entrepreneurs so they can be equipped with new skills and direction and give them the exposure they need. The next step shall be to bring them to Australia for a series of India-themed ‘Pitch-Fests’ in October 2018. These Fest will be an opportunity to pitch their business ideas to secure investment, partnerships and other assistance from a group of leading capital firms.
The Virangana Project promises Sydney’s first ever ‘Bollywood-themed’ pitch event at the Spark Festival in Sydney.
The Spark Festival is a two-week program of events and activities covering all things startup, innovation, and entrepreneurship.
The Virangana Project is a brainchild of a human rights lawyer and women's advocate, Shalini Chauhan Shah, who says she was frustrated with the hardship women faced to raise funds for their start-ups.
Shalini Chauhan Shah, Co-founder and CEO of The Virangana Project told The CEO Magazine, “In addition to historical, cultural issues in India’s still mainly male-dominated start-up scene, women entrepreneurs remain underrepresented in the economy and still face certain biases from potential investors when all that should matter is the idea,”
Communications Director for The Virangana Project, Tony McAuslan, says that this initiative will lay the foundation for a stronger investment opportunity. It will be beneficial for both countries.
“An A$100,000 investment in an Indian start-up goes a lot further than the same amount in an Australian one,” he says.
“It gives you access to an incredible pool of well-educated talent, and if your start-up kicks a goal in India, you have a consumer base greater than 1.2 billion and a well-off middle class ten times the size of the entire Australian population.” Tony McAuslan
The Virangana Project has a partnership agreement with some prestigious startup accelerators such as startup India academy, The Indian Angel Network and some others. They altogether manage about 2000 startups in India, and they are working as a bridge between the Virangana Project and the potential female startup applicants.
Things to remember
Speaking with SBS Gujarati Ms Anmol Saini shared that any female entrepreneur can apply for this project. Their enterprise or a startup should be recognised as per Indian Government standards.
"I think the main thing I want to make sure that everyone understands that we're actually not being fussy about the industry or the size of the organisation. This project is actually sector agnostic; we are encouraging Indian women from all industry sector to apply... particularly those with high tech or fintech or social enterprise focus."
The successful applicants will need to arrange their visa; they will receive a paid trip to Australia.
The applications are closing on the 31st of July 2018. The winners will be announced at the event organised by Australia Indian Business Council and City of Sydney in August.
