IIM-Vizag & SIDBI Signed MoU for Skill to Enterprise Model Programme to Foster Entrepreneurship

New Delhi: The Indian Institute of Management Visakhapatnam (IIMV) and the Small Industries Development Bank of India (SIDBI) have signed a Memorandum of Understanding (MoU) to support budding entrepreneurs in India. 

Under SIDBI's "Mission Swabhalamban" initiative, this collaboration with IIM Vizag focuses on implementing the Skill to Enterprise Model (STEM) program. This initiative aims to empower skilled youth, enabling them to become job creators for a self-reliant India.

Professor M Chandrasekhar, Director of IIMV, highlighted, "The Skill to Enterprise Model (STEM) program aligns with our vision of nurturing entrepreneurial leaders." The partnership will offer a specialized PG Certificate course to equip individuals aspiring to start their businesses. 

Divided into two phases, the program covers various aspects crucial for budding entrepreneurs. The Academic Training Phase delves into entrepreneurship, business management, finance, strategic planning, product development, and funding methods. The subsequent Incubation and mentoring Phase focuses on practical skills like idea validation, prototype formation, and pitching to investors.

Through this collaboration, IIM Visakhapatnam and SIDBI aim to mentor and guide selected candidates from across India. As Professor Chandrasekhar emphasized, IIMV has a steadfast commitment to fostering various kinds of entrepreneurs, including women, social, and techno-entrepreneurs. He emphasized that this program reflects the institute's dedication to nurturing entrepreneurial talent. The joint initiative, led by Professor Sushil Kumar from the Entrepreneurship area at IIM Visakhapatnam, aims to ignite a wave of innovative entrepreneurs, enriching India's entrepreneurial landscape.

The MoU signing involved key figures from both institutions, showcasing their commitment to fostering entrepreneurship. Professor M V Anuradha, Dean (Administration) of IIMV, and Dr. Subhransu Sekhar Acharya, CGM, SIDBI, officially sealed the agreement in the presence of other distinguished members. This collaboration seeks to equip aspiring entrepreneurs with the necessary skills, knowledge, and guidance to establish successful and innovative ventures.

The program's comprehensive curriculum, mentorship from industry experts, and tailored guidance from IIM-Vizag faculty and mentors underline the commitment to empowering entrepreneurial aspirants. The selection process for this program will focus on candidates' business ideas and their dedication to launching entrepreneurial ventures.

Read: IIM Visakhapatnam Launches Leadership Course for NTPC-Simhadri Executives; Check Details Here 

In essence, this partnership between IIM Visakhapatnam and SIDBI stands as a beacon of support and guidance for those driven by entrepreneurial ambitions. It reflects a collective effort to cultivate a new generation of job creators and innovators, contributing significantly to the entrepreneurial ecosystem of a self-reliant India.

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