The Indian Institute of Management Visakhapatnam (IIMV) and the Small Industries Development Bank of India (SIDBI) have formalized their commitment to entrepreneurial empowerment through a Memorandum of Understanding (MoU) under SIDBI’s “Mission Swabhalamban” initiative.

The MoU aims to facilitate the implementation of the Skill to Enterprise Model (STEM) programme, designed to educate and support skilled youth in their pursuit of entrepreneurial endeavors. The ultimate goal is to transform them into job creators, aligning with the vision of Atmanirbhar Bharat.

As part of the collaboration, IIM Visakhapatnam will offer a specialized PG Certificate course, the Skill to Enterprise Model (STEM) programme in Entrepreneurship, tailored for individuals aspiring to venture into entrepreneurship. The joint initiative seeks to equip participants with the skills and knowledge needed to establish new businesses with innovative ideas.

The program consists of two phases including academic training, focusing on understanding entrepreneurship, business management, and related topics; and Incubation & Mentoring, providing hands-on training in practical skills like idea validation and pitch presentation.

Faculty from IIM Visakhapatnam, IIMV FIELD mentors, and industry experts collaborate to guide candidates nationwide, selected based on the merit of their business ideas and commitment to entrepreneurship.

Professor M. Chandrasekhar, Director of IIMV said "IIMV has maintained an enduring commitment to fostering women, social, and techno-entrepreneurs since its inception. The Skill to Enterprise Model (STEM) programme aligns seamlessly with the vision of IIM Visakhapatnam, reflecting the institute's dedication to champion and excel in educating and nurturing entrepreneurial leaders."

While Prof. Sushil Kumar, Faculty in Entrepreneurship Area, IIM Visakhapatnam stated that “we are excited to lead this joint initiative with SIDBI.

The STEM programme is not just a course; it's a journey to empower individuals with the skills and mindset needed for successful entrepreneurship. We look forward to guiding and supporting aspiring entrepreneurs in their quest to establish thriving enterprises."

This collaborative effort signifies a pivotal step in creating a conducive ecosystem for entrepreneurship, fostering self-reliance and contributing to the economic growth of the nation. As the STEM programme takes shape, it holds the promise of cultivating a new wave of innovative and empowered entrepreneurs across India. 

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