New Delhi [India], September 22 : Indian Institute of Management Ahmedabad and Indian Institute of Management Lucknow Enterprise Incubation Centre have been chosen as new academic partners to provide women entrepreneurs with the skills and knowledge they need to grow their businesses under a major expansion of Goldman Sachs 10,000 Women.
It is a global initiative that promotes economic growth by providing women entrepreneurs with business education, networking opportunities, and access to capital.
As per a press release, together with existing academic partner Indian Institute of Management Bangalore - NSRCEL, Goldman Sachs 10,000 Women aims to graduate 1,000 women entrepreneurs in India over the next year and grow its current overall intake of about 3,800 women entrepreneurs to 10,000 by 2033.
Sonjoy Chatterjee, Chairman and Chief Executive Officer of Goldman Sachs' business in India, said, "We are doubling our commitment to women entrepreneurs in India. Widening our partnership with India's premier business schools will drive a powerful combination of education, mentorship, and networks for these entrepreneurs. They will become pillars of India's growth."
According to the release, this expansion seeks to unlock the potential of women entrepreneurs to drive India's growth story and directly supports the nation's "Viksit Bharat 2047" vision for a developed India.
Professor Bharat Bhasker, Director of IIM Ahmedabad, said, "This collaboration with Goldman Sachs helps address the critical structural barriers that women entrepreneurs face, particularly in accessing capital and professional networks. By combining our academic expertise with the global reach of the initiative, we can further strengthen an ecosystem of women entrepreneurs, fostering innovation, driving growth, and empowering women to scale their businesses and become leaders in the Indian economy. Together, we aim to shape a future where women thrive as key contributors to the economy."
Goldman Sachs' "India Womenomics" research highlights that "over the next two decades, India is uniquely positioned to benefit from favourable demographics. To capitalise on this, the country needs to create employment opportunities for women and increase their overall labour force participation rate, which remains below that of other major developed and emerging economies."
Professor MP Gupta, Director of IIM Lucknow, said, "Promoting female entrepreneurship in India is not just about breaking down barriers but creating a ripple effect that inspires entrepreneurs for generations to come, bolstering the impact and contribution women can have to the economy while driving positive change in society. The association between IIM Lucknow Enterprise Incubation Centre and Goldman Sachs is committed to boosting women entrepreneurship through this uniquely targeted initiative. The initiative will contribute to dismantling barriers and establishing a supportive ecosystem where women-led ventures can flourish, scale and inspire."
The 10,000 Women program has a proven track record of creating a significant economic impact. In India, graduates of the program have, on average, quadrupled their revenues and doubled their workforce shortly after completion.
"Collectively, graduates have already created more than 12,000 new jobs and added billions of rupees in revenue to the Indian economy. Furthermore, an overwhelming majority of participants adapt their businesses effectively in response to external disruptions, and nine out of ten create a multiplying effect by mentoring other women entrepreneurs and creating employment opportunities for other women," the release concluded.
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