The Indian Institute of Management, Visakhapatnam (IIMV), has joined hands with the Small Industries Development Bank of India (SIDBI) to introduce tailored courses focusing on entrepreneurship for young enthusiasts and aspiring entrepreneurs. Through this partnership, IIM Visakhapatnam will provide a specially designed PG Certificate program called the Skill to Enterprise Model (STEM) program in Entrepreneurship. This initiative aims to empower individuals seeking to venture into entrepreneurship, enabling them to evolve as creators of job opportunities in support of the Atmanirbhar Bharat (Self-reliant India) initiative.

Following the MoU signing event, Subhransu Acharya, the Chief General Manager of SIDBI, mentioned that the primary goal of the IIMV-SIDBI collaboration is to encourage entrepreneurs in establishing innovative businesses. Acharya highlighted that the initiative aims to transform educational insights into successful enterprises. He emphasized that India's aspiration to become a global growth driver by 2047 hinges significantly on a thriving entrepreneurial landscape. The joint initiative between SIDBI and IIMV aims to facilitate the actual creation of enterprises rather than confining efforts solely to classroom education.

Acharya further elaborated that the program will encompass both academic training and incubation phases, providing participants with practical skills such as idea validation, prototype development, company registration, and pitching to potential investors. This comprehensive approach intends to enable participants to swiftly transition into action upon program completion. While IIMV contributes its academic, research, and entrepreneurial ecosystem, SIDBI will fully finance the project in alignment with societal and national objectives.