Vijaybhoomi University, India’s first liberal professional university in Maharashtra‘s Karjat, and Small Industries Development Bank of India (SIDBI), the principal financial institution for the promotion, financing, and development of the micro, small and medium enterprise (MSME) sector, have signed an MoU today, May 12, to train and nurture youth, and students in entrepreneurship at SIDBI’s office at Swavalamban Bhavan, Mumbai.
SIDBI, the apex regulatory body for overall licensing and regulation of micro, small and medium enterprise finance in India, conducts interventions that are directed towards poverty alleviation, employment generation, entrepreneurship development, and development of the MSME sector through financial as well as various non-financial interventions.
As per the MoU, Vijaybhoomi University and SIDBI will jointly work towards strengthening the entrepreneurial ecosystem in the country. Further, Vijaybhoomi University has a long-term vision to train and nurture youth in entrepreneurship, and identify the location for suitable need-based intervention required by assessing the gap in supply and demand for skilled human resources in consultation with SIDBI. The University will also provide an implementation framework to address the gaps, provide capacity-building support through the university’s campus network and faculty resources as per the program requirements through its online/offline solution, and carry out, through a third party, an impact assessment of the initiative after successful completion of the projects.
SIDBI and Vijaybhoomi University will launch a specialised course on entrepreneurship for aspiring skilled youths, ITI-trained students, NSDC skilled aspiring entrepreneurs, and others under the VU-SIDBI partnership to promote entrepreneurship culture in the country. It would also extend financial support for the agreed interventions and facilitate credit connect and mentorship support to the entrepreneurs for launching the enterprise through various other initiatives of SIDBI under “Mission Swavalamban”.
Speaking on the occasion, Sanjay Padode, President, Vijaybhoomi University said, “The university is devoted to nurturing holistic, socially responsible, and continuously employable professionals. It is a proud moment for us to partner with SIDBI. We are committed to train and nurture the youth of our country to be entrepreneurs, problem solvers and leaders of change. This relationship will help us leverage SIDBI’s expertise in the field to create a quality mentorship program and provide financial support to those who are willing to set up micro and small enterprises. This partnership will push Bharat on an accelerated path of self-employment and entrepreneurship. Leading to development of job givers instead of job takers.”
S. Ramann, Chairman and Managing Director, SIDBI said, “With SIDBI tirelessly working for the Promotion, Financing, and Development of the Micro, Small and Medium Enterprise (MSME) sector, it is essential to create synergies with leading academic and professional institutions. This MoU with Vijaybhoomi University will help us build the entrepreneurship ecosystem in India. Vijaybhoomi University’s liberal framework will also help us in conceptualizing and executing initiatives targeted at skilling people and ensuring a high probability of self-employment and adopting entrepreneurship as a preferred choice over employment.”
Sanjay Jain, GM, SIDBI said, “The University and SIDBI will jointly work on the initiatives and projects that would be launched as a VU-SIDBI partnership and the financial support to budding entrepreneurs that would be required to undertake all such initiatives under the MoU to strengthen the entrepreneurial ecosystem in the country.”