By Our Reporter
SHILLONG, Oct 24: The Indian Institute of Management Shillong, through its IIM Shillong Foundation for Incubation and Enterprise (IIMSFIE), has inked a Memorandum of Understanding (MoU) with the Small Industries Development Bank of India (SIDBI).
The MoU signing ceremony, held at IIM Shillong, formalised the partnership aimed at providing comprehensive entrepreneurship training and incubation support to aspiring entrepreneurs. By leveraging SIDBI’s vast network and IIMSFIE’s infrastructure and experience, the initiative is expected create a robust support system to nurture innovative start-ups and enterprises.
As part of this collaboration, IIMSFIE will introduce the Skill to Enterprise Model (STEM) Programme in partnership with SIDBI. The STEM Programme is designed to equip aspiring entrepreneurs with the skills, knowledge, and mentorship needed to transform their innovative ideas into successful businesses.
Director of IIM Shillong, Prof DP Goyal, highlighted the importance of the partnership, stating, “This collaboration with SIDBI is a major step forward in our mission to support and incubate entrepreneurship in the Northeast and beyond. We are excited to launch the STEM Programme, which will empower entrepreneurs and contribute to the economic growth of the region.
The STEM programme, to be rolled out soon, will offer a blend of practical training, mentorship, and incubation support, ensuring that entrepreneurs have access to the right resources at each stage of their business journey.
Under this, the IIMSFIE will offer an intensive 18-month entrepreneurship training programme designed for 30 selected candidates. This comprehensive programme combines rigorous classroom teaching, hands-on training, incubation support at IIMSFIE, and personalised mentorship. The focus of the course is on fostering the development of innovative and sustainable enterprises, while also empowering participants to create sustainable livelihoods. Participants will gain the knowledge, skills, and support needed to build and scale successful businesses, contributing to economic growth and sustainability.
Meghalaya govt signs Master Agreement with SIDBI
On the other hand, Meghalaya government signed a Master Agreement (MA) with SIDBI for availing soft loans under SIDBI Cluster Development Fund (SCDF) scheme. The pact was signed by Commissioner and Secretary, Finance department, Dr Vijay Kumar D, and General Manager, Guwahati RO In-charge, SIDBI, Bhanu Prakash Verma, in Shillong on Thursday.
Meghalaya will avail soft loans from this current financial year onward under the SCDF scheme for fostering the growth and development of Micro, Small, and Medium Enterprises (MSMEs) by developing/upgrading essential infrastructures within MSME clusters in the state like industrial estates, godown, common facility centre, power supply, warehouse, urban haat, marketing infrastructure, cold chain infrastructure, incubation centres, design/production/information centre, Common Effluent Treatment Plant (CETP), training/R&D centre, roads, bridges, drinking water, PHE, education institutions like ITIs, polytechnics, solid waste management infrastructure etc.