SIDBI, GIZ to create enabling environment for start-ups
Updated: Feb 19, 2014 01:56:32pm
New Delhi, Feb 19 (KNN) With a view to creating an enabling environment for financing start-up and early stage enterprises, German Development Cooperation (GIZ) and Small Industries Development Bank of India (SIDBI) are planning to launch the National Innovation Financing Programme (NIFP).
“NIFP will be a unique national collaborative program led by SIDBI for creating an enabling environment for innovation financing in the country to help India become an innovation hub. NIFP will work to address various pain points in the eco system to encourage flow of more capital from public and private sources to start up and early stage enterprise sin various sectors,” said an official notice.
GIZ and SIDBI have been jointly implementing the “MSME Financing and Development Project” to promote improved access to financial and non-financial services for MSMEs in India.
The cooperation project will support SIDBI Equity & Risk Capital department in Mumbai to design and launch National Innovation Financing Programme (NIFP).
NIFP will have strategic partnerships with ‘SmallB’ branches of banks, venture capital industry (IVCA), angel networks, incubators, Government departments (DST, Bio-tech, etc), Stock exchanges, knowledge industry bodies (NASSCOM,ABLE , etc), entrepreneurship promoting organizations (TiE, Headstart, etc).
In order to develop this dedicated and thematic endeavour, GIZ and SIDBI seek bids from agency/consultant team with substantial experience in supporting startup financing, handholding/mentoring innovators/accelerators etc.
The assignment aims to build the capacities of SIDBI and handhold the department officials.
SIDBI is implementing a multi-agency/multi-activity flagship Project on Financing and Development of Small and Medium Enterprises in India. Department of Financial Services, Ministry of Finance, Government of India is the nodal agency and the partners include The World Bank, Department for International Development (DFID), UK, KfW and GIZ, Germany.
SIDBI has set up a dedicated Project Management Division (PMD) at New Delhi to implement the project. The overall objective of the multi-donor project is “increased turnover and employment in Micro, Small and Medium enterprises in India”.
GIZ implements two TC components under the Project. The first TC component, Business Development Services (BDS), promotes development of strategies and implementation of market based generic, embedded and public business development services (BDS) to value chain/clusters MSMEs in selected Project regions. The financial sector component of the Technical Assistance of GIZ offers training and advisory services to participating banks/financial institutions aimed at increasing credit and other financial services to regional clusters/value chains of MSMEs.
SIDBI is actively serving the MSME sector by providing various financial products which are tested, validated and customized as per aspirations and demands of MSME domain. It reaches MSME directly through its 85 branches in India as well as through the large network of banks.
SIDBI is addressing the financial gaps in the areas of delayed payments, sustainable/ responsible financing, risk capital, service sector financing, and cluster financing and micro finance. Thus, working with and through banks, SIDBI supplements and complements the banks towards better serving the MSMEs. (KNN/ES)
“NIFP will be a unique national collaborative program led by SIDBI for creating an enabling environment for innovation financing in the country to help India become an innovation hub. NIFP will work to address various pain points in the eco system to encourage flow of more capital from public and private sources to start up and early stage enterprise sin various sectors,” said an official notice.
GIZ and SIDBI have been jointly implementing the “MSME Financing and Development Project” to promote improved access to financial and non-financial services for MSMEs in India.
The cooperation project will support SIDBI Equity & Risk Capital department in Mumbai to design and launch National Innovation Financing Programme (NIFP).
NIFP will have strategic partnerships with ‘SmallB’ branches of banks, venture capital industry (IVCA), angel networks, incubators, Government departments (DST, Bio-tech, etc), Stock exchanges, knowledge industry bodies (NASSCOM,
In order to develop this dedicated and thematic endeavour, GIZ and SIDBI seek bids from agency/consultant team with substantial experience in supporting startup financing, handholding/mentoring innovators/accelerators etc.
The assignment aims to build the capacities of SIDBI and handhold the department officials.
SIDBI is implementing a multi-agency/multi-activity flagship Project on Financing and Development of Small and Medium Enterprises in India. Department of Financial Services, Ministry of Finance, Government of India is the nodal agency and the partners include The World Bank, Department for International Development (DFID), UK, KfW and GIZ, Germany.
SIDBI has set up a dedicated Project Management Division (PMD) at New Delhi to implement the project. The overall objective of the multi-donor project is “increased turnover and employment in Micro, Small and Medium enterprises in India”.
GIZ implements two TC components under the Project. The first TC component, Business Development Services (BDS), promotes development of strategies and implementation of market based generic, embedded and public business development services (BDS) to value chain/clusters MSMEs in selected Project regions. The financial sector component of the Technical Assistance of GIZ offers training and advisory services to participating banks/financial institutions aimed at increasing credit and other financial services to regional clusters/value chains of MSMEs.
SIDBI is actively serving the MSME sector by providing various financial products which are tested, validated and customized as per aspirations and demands of MSME domain. It reaches MSME directly through its 85 branches in India as well as through the large network of banks.
SIDBI is addressing the financial gaps in the areas of delayed payments, sustainable/ responsible financing, risk capital, service sector financing, and cluster financing and micro finance. Thus, working with and through banks, SIDBI supplements and complements the banks towards better serving the MSMEs. (KNN/ES)
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