Empowering Women Entrepreneurs: Spherule Foundation and Fedbank Financial Services Ltd. Join Forces for a Groundbreaking CSR Initiative, ‘Umeed

29th August 2024 – Spherule Foundation and Fedbank Financial Services Ltd. have launched Umeed, a CSR initiative designed to support 700 women entrepreneurs across India. This program will be rolled out in Karnataka, Delhi-NCR, Telangana, Rajasthan, Maharashtra, and Punjab, with the objective of empowering women at the grassroots level to scale their small and micro enterprises.

About Spherule Foundation and Fedbank Financial Services Ltd

Spherule Foundation is a well-known NGO that focuses on creating positive social change through projects in education, women’s empowerment, health, and the environment. The foundation works across India with a strong emphasis on sustainability.

Fedbank Financial Services Ltd, is a leading NBFC in India, has consistently demonstrated its commitment to corporate social responsibility through various initiatives aimed at fostering inclusive growth and development.

Spherule Foundation has already made a difference in the lives of over 50,000 women micro-entrepreneurs across the country. Their success stories have been shared at top institutions like Oxford University and the IITs, highlighting the powerful impact of their work. This new CSR program is designed to go beyond just providing initial support; it will offer ongoing mentorship and guidance to help these businesses grow and become self-sustaining.

A highlight of the program is a Shark Tank-style event where the women entrepreneurs can pitch their business ideas to a panel of experts. This unique competition gives participants a chance to win support and funding for their businesses, providing a platform to showcase their creativity and drive.

Key Features of “Umeed”:

• Hands-On Training: Women entrepreneurs will receive practical training in managing finances, using digital tools, understanding the basics of entrepreneurship, and creating business plans. These skills will help them run and expand their businesses effectively.
• Continuous Support: Field Executives will check in with the entrepreneurs every 15 days, offering advice and monitoring progress to ensure that their businesses are stable and growing.
• Connecting to Markets and Government Programs: The program will help participants find market opportunities and access government schemes that can further support their businesses.
• Essential Documentation and Social Security: Field Executives will assist the women in getting important documents like licenses and social security cards (such as Eshram & ABHA cards). They’ll also make sure everyone has a bank account, Aadhar card, and PAN card.

This initiative aligns with 4 United Nations sustainable  development goals (SDGs) to promote gender equality, quality education, no poverty and economic growth. By empowering women entrepreneurs, we aim to spark positive change in underprivileged communities across India, helping women become more self-reliant and less dependent on external support.

Anila Rajneesh, Chief Human Resources Officer at Fedbank Financial Services Ltd., emphasized the significance of the partnership: “We take great pride in extending our support to this program aimed at empowering and nurturing our talented women entrepreneurs from underprivileged communities. We believe this initiative will inspire many aspiring women, helping them to overcome obstacles in pursuit of their dreams. We are happy to collaborate with Spherule Foundation on this gallant cause.”

Mangesh Potdar, Social Solution Architect at Spherule Foundation, expressed enthusiasm for the collaboration, stating, “We are thrilled to partner with Fedbank Financial Services Ltd on this journey. Together, we’re not just supporting businesses; we’re helping women build better futures for themselves and their communities.”
For more information, please contact: 

Name: Mangesh Potdar
Phone: +91 9175003999
Email: mangesh@spherule.org 
Website: www.spherule.org 

Website: www.fedfina.com