IIM Shillong signs agreement with SIDBI to launch entrepreneurship training and incubation programme

NEW DELHI: The Indian Institute of Management Shillong (IIM Shillong), through its IIM Shillong Foundation for Incubation and Enterprise (IIMSFIE), has officially signed an agreement with the Small Industries Development Bank of India (SIDBI). The collaboration marks a significant milestone in fostering entrepreneurship and innovation in the state, the IIM Shillong statement said.

The signing ceremony was held at IIM Shillong. The partnership aims to provide 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, the IIM Shillong statement adds.

IIMSFIE, SIDBI collaboration

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, the IIM Shillong statement added.

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About the STEM entrepreneurship training programme

Under this STEM programme, IIMSFIE will offer an intensive 18-month entrepreneurship training programme designed for 30 selected candidates.

The programme offers classroom teaching, hands-on training, incubation support at IIMSFIE, and personalized mentorship to participating candidates. The focus of the programme is to foster the development of innovative and sustainable enterprises, empowering candidates 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.

Professor DP Goyal, director of IIM Shillong, highlighted the importance of the partnership and said: “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.”