Page 40 - IIM(V)Issue_Sep-Dec 2023_Edited 7_26 Feb

OTHER IMPORTANT EVENTS & CELEBRATIONS

MOU SIGNED BETWEEN IIMV AND SIDBI

11 DECEMBER

The Indian Institute of Management Visakhapatnam and the SIDBI(Small Industries Development Bank of
India) have entered a Memorandum of Understanding (MoU) as part of the SIDBI’s “Mission Swabhalamban”
initiative. The purpose of the MoU is to facilitate the implementation of the Skill to Enterprise Model (STEM)

programme, which aims to educate and support ambitious skilled youth in their pursuit of entrepreneurial
endeavors, ultimately enabling them to become job creators for Atmanirbhar Bharat.
As a part of this MoU, IIM Visakhapatnam will offer a customized and specialised PG Certificate course,

the Skill to Enterprise Model (STEM) programme in Entrepreneurship, to individuals aspiring to become
entrepreneurs. By the end of the programme, the primary objective of the IIMV-SIDBI joint initiative is to have

prepared aspiring entrepreneurs to establish new
businesses with innovative ideas. The program
will be delivered in two phases: Academic training

phase, and Incubation & mentoring phase. The first
Academic Training Phase is designed to develop a

comprehensive understanding of entrepreneurship
and venture creation, business management,
enterprise formation, operations, finance, strategic

planning and execution, taxation and compliances,

product development and innovation management, and venturing funding methods and processes. The
Incubation & mentoring phase is focused on offering training and mentoring on various practical skills-idea
validation and prototype formation, company registration, pitch presentation before investors, etc.

Faculty from IIM Visakhapatnam, mentors from
IIMV FIELD, and other industry experts will guide

the aspiring entrepreneurs to establish a successful
enterprise. The candidates for this program will be
selected from across India based on their business
ideas and commitment to starting an entrepreneurial

venture.
Professor Chandrasekhar M Director of IIMV,

emphasized IIMV’s enduring commitment towards
Professor Chandrasekhar M Director of IIMV, emphasized IIMV’s enduring commitment towards

fostering women, social, and techno-entrepreneurs since its inception. He highlighted that the Skill to
Enterprise Model (STEM) programme seamlessly aligns with the vision of IIM Visakhapatnam, reflecting the

institute’s dedication to champion and excel in educating and nurturing entrepreneurial leaders. This joint
initiative will be led by Prof. Dr. SUSHIL KUMAR, faculty Entrepreneurship area, at IIM Visakhapatnam.

37 VOL.5/ ISSUE 1, SEPT - DEC 2023