IIM-Vizag Partners with SIDBI for Enterprise Development Program
The Indian Institute of Management, Visakhapatnam (IIMV), has joined forces with the Small Industries Development Bank of India (SIDBI) to introduce specialized courses in entrepreneurship for aspiring individuals and entrepreneurs. Under this collaboration, IIM Visakhapatnam will provide a tailored PG Certificate course called the Skill to Enterprise Model (STEM) program in Entrepreneurship. This initiative aims to empower individuals with the skills needed to become successful entrepreneurs, fostering the creation of jobs and contributing to the vision of an Atmanirbhar Bharat.
The main goal of the collaborative effort between IIMV and SIDBI is to encourage entrepreneurs to launch innovative businesses by the conclusion of the program. Subhransu Acharya, Chief General Manager at SIDBI, emphasized that the ultimate aim of this initiative is to transform entrepreneurial education into thriving enterprises. "India is aspiring to become a powerhouse driving global growth by 2047. A thriving entrepreneurial ecosystem will prove fundamental to propel India’s economy. The SIDBI and IIMV joint initiative has been designed in this direction to create actual enterprises rather than limiting it to classroom education", said Acharya.
The SIDBI chief general manager added that the programme will have an academic training phase and incubation and mentoring phase to offer the participants practical skills-idea validation, prototype formation, company registration, pitch presentation before investors, etc. "This is to help the participants hit the ground running soon after completion of the programme. While IIMV will offer its academic, research, and entrepreneurial ecosystem to the participants, SIDBI will entirely fund the project for the ultimate societal and national cause", said Acharya.
The SIDBI chief general manager explained about the key thrust areas of their MoU with IIMV which will help the entrepreneurs, particularly from the region. SIDBI made into the MoU as part of the SIDBI’s "Mission Swabhalamban" initiative. IIM Vizag director Prof M Chandrasekhar said that this is the first such joint initiative taken up by the IIMV in association with a development financial institution.
"The programme offers everything, including knowledge and funding support, mentoring, and guidance. The initiative is like two public institutions working for public good joining their forces together. We have our objectives very clear – to see more enterprises germinate, grow, take wings, and contribute to the nation. We will offer whatever it takes for the entrepreneurs to grow in this direction", said Prof Chandrasekhar. Professor Sushil Kumar, a faculty member specializing in entrepreneurship at IIMV, will spearhead this collaborative initiative. The presence of Professor MV Anuradha, Dean of Administration at IIMV, and Guhesh Ramanathan, CEO of IIMV's incubation and startup hub, FIELD, was noted during the event.
