New Delhi, Dec 27 (KNN) Federation of Indian Micro and Small & Medium Enterprises (FISME) and Startup Board Business Services Private Limited (TSB) on Tuesday signed a MoU to explore opportunities between startups and MSMEs and enhance the ecosystem of innovations.

The MSME body is expected to provide bureaucracy support and policy intervention in favour of TSB members.

Both the parties will cooperate to explore opportunities in regards to sponsorships, potential speakers, and jointly organizing events.

Speaking exclusively with KNN, Ashish Jain, CEO at TSB said, “Through our partnership with FISME, we aim to educate MSMEs about the innovations and methodology to grow faster picked up in the startup industry.”

“On the other hand startups will benefit from the physical infrastructure developed in the MSME sector,” opined Jain.

TSB Chief told KNN that medical devices is the key area of focus along with logistics under this pact.

Speaking on the collaboration, Anil Bhardwaj, Secretary General, FISME said, “This MoU intends to bring together startups and MSMEs of India and leverage their unique strengths and do away with the pattern of working in silos.”

Bhardwaj further stated that this will further help India become the second largest startup ecosystem in the world.

Whenever FISME organizes “Trade Fares” both parties will explore manufacturing outsourcing partner.

Engineering Colleges, Technology Incubators will also be included to explore domestic technology exchange opportunities for manufacturing units. (KNN Bureau)