'Sarthika': WE Hub joins hands with UK-based TIDE; promote women-centric schemes

Hyderabad: UK-based TIDE and 'WE Hub' have launched `Sarthika’ to bridge the information and last-mile delivery gaps in state and central government schemes for women-led micro, small and medium-sized enterprises (MSMEs).

TIDE is a prominent business financial platform focused on SMEs in the UK. We Hub is a state-led incubator in Telangana supporting women entrepreneurs.

Through this initiative, TIDE aims to reach women entrepreneurs across India and enhance the ease of doing business by improving access to information and the uptake of public schemes and initiatives.

The Sarthika web portal https://www.tide.co/en-in/wehub-tide/ will work with the cohort at the grassroots level to help them navigate through the application process, eligibility criteria, and other important aspects of the schemes. After the completion of the full KYC process, TIDE India and WE Hub will work with relevant government departments to quicken the operationalization of the schemes.

The program’s first phase consists of three schemes:

Prime Minister's Employment Generation Programme (PMEGP): The scheme focuses on credit subsidies for self-employment.

Raw Material Assistance Scheme: This scheme offers access to higher-quality raw materials.

Barcode Registration Subsidy: This scheme enables businesses to conform to global standards of trade and commerce.

Centre has implemented several measures aimed at promoting growth and creating opportunities for women in business. However, due to insufficient information on scheme eligibility and availability, inadequate resource allocation, and complicated procedures, demand from those who could benefit from these programs has been low.

In light of this situation, the Sarthika program has been introduced. This initiative is particularly significant as India's G20 presidency is currently being led by W20, a group focused on promoting gender equity. W20 is dedicated to realizing the vision of women-led development, where women are active agents of change in India's growth story, rather than merely passive recipients of development.

“Enabling access and opportunity for women to partake in the economic workforce of the nation is of pivotal importance to the growth of the nation. While there have been efforts to ease this process, awareness and handholding support is often amiss. In our collaboration with TIDE, we are looking at addressing this problem statement and are positive that this will lead to a monumental change,” Deepthi Ravula, CEO of WE Hub, said.

This move also elevates TIDE’s India chapter of ‘Women in Business’ and the company’s plan to work as an incubator to digitally transform women-led SMEs beyond Tier 2 and 3 regions of India.

Kumar Shekhar, Deputy Country Manager, TIDE India said, “As India presides over G20, there is an increased need to focus on the inclusion of women in finance and creating an enabling and non-discriminatory ecosystem. Last-mile delivery of schemes and incentives is a common challenge faced by governments across the globe. While there is no magic bullet to bridge this gap, we are proud to launch a programme that will not just remove barriers to women-led development but help them realize their full potential.”

TIDE also conducted a mentorship programme for women entrepreneurs earlier this year to help them understand how new government policies, tax laws, and funding opportunities might affect their businesses.