CM Revanth Reddy's Initiative Boosts Women Entrepreneurship in Telangana

Press Releases Press Releases for Telengana IT

Posted by pallavi on 2024-10-03 11:24:34 |

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In a significant step towards empowering women entrepreneurs in Telangana, Chief Minister A. Revanth Reddy and IT Minister D. Sridhar Babu witnessed the signing of a Memorandum of Understanding (MoU) between WE Hub and Walsh Karra Holdings (WKH) in New York on August 5, 2024. This agreement guarantees an initial investment of USD 5 million in WE Hub, with plans for WKH to invest over USD 100 million in Telangana-based startups over the next five years.

The MoU was finalized during CM Reddy's official visit to the United States, aimed at exploring new partnerships and investments for the state. Sita Pallacholla, CEO of WE Hub, India’s first state-led nodal organization for women’s entrepreneurship, expressed gratitude for the support, emphasizing the importance of this investment in facilitating world-class incubation and acceleration programs for women entrepreneurs.

CM Reddy highlighted the transformative potential of women entrepreneurship in liberating society and driving the true potential of Telangana. He stated, “No society can achieve its fullest potential without enabling and empowering women.” Greg Walsh, co-founder of WKH, echoed these sentiments, emphasizing their commitment to investing in both WE Hub-incubated startups and others in the Telangana ecosystem.

Walsh Karra Holdings, co-founded by seasoned global entrepreneurs Greg Walsh and Phani Karra, aims to identify and support early and growth-stage companies focused on innovation, sustainability, and profitability. This initiative aligns with the Telangana government's vision of fostering economic empowerment through targeted programs for women.

Phani Karra, who began his career in Hyderabad, expressed his desire to give back to the community through this partnership. The investment is expected to catalyze the growth of WE Hub and enhance the capabilities of women entrepreneurs across Telangana, ultimately contributing to a more sustainable and prosperous future for the region.

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