Shillong, Oct 24: The Indian Institute of Management Shillong, through its IIM Shillong Foundation for Incubation and Enterprise (IIMSFIE), has officially signed a Memorandum of Understanding (MoU) with the Small Industries Development Bank of India (SIDBI) to foster entrepreneurship and innovation in the region.
Prof DP Goyal, Director, IIM Shillong, 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 North East and beyond. We are excited to launch the STEM Programme, which will empower entrepreneurs and contribute to the economic growth of the region,” an IIM Shillong press statement said.
The MoU signing ceremony, held at IIM Shillong, formalizes 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 will create a robust support system to nurture innovative startups 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.
Meanwhile, Bhanu Prakash Verma, General Manager and In-Charge North East Zone, SIDBI added, “We are pleased to join hands with IIM Shillong in fostering a strong entrepreneurial ecosystem. By sharing our expertise in financial and business development, we are confident that this partnership will enable many young entrepreneurs to realize their potential and create sustainable businesses.”
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 the STEM program, 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 personalized mentorship.
The focus of the course is on fostering the development of innovative and sustainable enterprises, while also empowering participants to create sustainable livelihoods. Through this programme, participants will gain the knowledge, skills, and support needed to build and scale successful businesses, contributing to economic growth and sustainability.
