Shillong, Oct 24: The Indian Institute of Management (IIM) Shillong, through its IIM Shillong Foundation for Incubation and Enterprise (IIMSFIE), has signed a Memorandum of Understanding (MoU) with the Small Industries Development Bank of India (SIDBI), paving the way for an ambitious entrepreneurship training and incubation initiative.
The MoU, formalized during a ceremony at IIM Shillong, signifies a landmark collaboration aimed at fostering entrepreneurship and innovation across the region. This partnership will focus on providing aspiring entrepreneurs with comprehensive training and support, leveraging SIDBI’s expansive financial network and IIMSFIE’s resources and expertise.
As a key outcome of this collaboration, IIMSFIE will launch the Skill to Enterprise Model (STEM) Programme in association with SIDBI. The program is designed to equip budding entrepreneurs with essential skills, knowledge, and mentorship to turn their innovative ideas into successful ventures.
Prof. D.P. Goyal, Director of IIM Shillong, emphasized the significance of the partnership: “This collaboration with SIDBI aligns with our vision to incubate and promote entrepreneurship in the North East and beyond. The STEM Programme will be a crucial catalyst in empowering entrepreneurs, contributing to regional economic growth, and fostering sustainable development.”
Bhanu Prakash Verma, General Manager and In-Charge of the North East Zone at SIDBI, expressed his enthusiasm for the initiative: “We are delighted to partner with IIM Shillong in creating a strong entrepreneurial ecosystem. By combining our financial expertise with IIM Shillong’s academic and incubation capabilities, we are confident this program will help many young entrepreneurs realize their potential and build sustainable enterprises.”
The STEM Programme, set to roll out soon, will provide practical training, mentorship, and incubation support, ensuring entrepreneurs have access to the necessary resources throughout their business journey.
The 18-month intensive program will be offered to 30 selected participants, combining rigorous classroom instruction, hands-on training, incubation opportunities at IIMSFIE, and personalized mentorship. The program’s core focus will be on developing innovative, sustainable enterprises and empowering participants to create meaningful livelihoods. Participants will gain the tools and knowledge to scale successful businesses, contributing to the region’s economic growth and long-term sustainability.
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 Shillong, through its IIM Shillong Foundation for Incubation and Enterprise (IIMSFIE), has signed a Memorandum of Understanding (MoU) with the Small Industries Development Bank of India (SIDBI), paving the way for an ambitious entrepreneurship training and incubation initiative.){kind=link}