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). This collaboration
marks a significant milestone in fostering entrepreneurship and innovation in the region.
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.
Prof D.P. 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.
Mr 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 program designed for 30 selected candidates. This comprehensive program 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 program, participants will gain the knowledge, skills,
and support needed to build and scale successful businesses, contributing to economic growth
and sustainability.