New Delhi, Aug 30 (KNN) Small Industries Development Bank of India (SIDBI)  has signed a Memorandum of Understanding (MoU) with Wadhwani Foundation’s, National Entrepreneurship Network (NEN).

Collaboration has come to extend the mentoring support to the existing awardees of SIDBI ET India MSE awards and micro and small enterprises (MSEs) identified from different regions and locations by SIDBI or its associates.

In this collaboration to push the growth of MSEs, SIDBI will provide a list of MSEs to NEN and NEN would provide mentorship support to the shortlisted MSEs by strategic guidance, advisory and execution support.

Speaking at the event, Mohammad Mustafa, IAS, Chairman and Managing Director of SIDBI said, “This partnership will be useful for MSEs. SIDBI ET India MSE Award winners will be benefitted by getting mentorship as a reward. The core aim of this MoU is to accelerate the growth of small businesses and helping them to reach the next step. In the initial year, we have the target to onboard 500 MSEs from all over the country to mentor them”.

Dr. Ajay Kela, Global CEO and President of Wadhwani Foundation said, “SIDBI brings curated Small and Medium Enterprises (SMEs) and he will make sure that Wadhwani Foundation will take them through the journey of transforming them”.Anchor

Samir Sathe, Executive Vice President of Wadhwani Foundation said, “A study would be done of MSEs after onboarding them on NEN, to develop a transformative roadmap. The mentors would be selected and matched with MSEs based on the assessment and free mentorship support. Also, pro bono of nearly 8 to 10 hours per quarter shall be given to MSEs. The focus would be at establishing a growth path, providing advisory, strategic and execution support services through artificial intelligence (AI) enabled network of mentors, coaches, and consultants”.