An accelerator programme has been launched by the business process management company Genpact in collaboration with Hindustan Unilever Limited (HUL), a prominent player in the Indian FMCG market, to assist minority and underrepresented groups in scaling their businesses.
The programme will make it possible for minority enterprises to be incorporated into the supply chains of major consumer goods corporations, including HUL, with the goal of advancing diverse and sustainable sourcing.
The programme, according to HUL's procurement director Ansu Archana, aims to broaden the company's ethical and environmental commitments in India.
“This is one of our ambitious goals and very much aligned towards Unilever for global commitment, where we have committed to spend Rs 2,000 crore annually with diverse businesses by 2025,” said Archana.
75 applications will be accepted to begin the programme. According to Katie Stein, chief strategy officer of Genpact, one of the program's key criteria is to find companies that are 51% or more owned, managed, or controlled by people from different backgrounds.
“The programme will cater to groups that have not been seen, such as women, persons with disabilities, scheduled castes and tribes, among others,” said Stein.
Over 150 hours of virtual master classes, one-on-one mentoring sessions, and expert-led workshops will be held by HUL and Genpact with the help of leaders with domain expertise in areas like finance, supply chain management, engineering, sales and marketing, communication, business development, digital transformation, and others.
Over the course of six months, the pilot phase of the curriculum will give the nominated business owners the chance to learn crucial behavioural and technical skills, including refining business and growth goals, making an investor pitch, and engaging in fundraising activities.
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