New Delhi, July 19 (KNN) Union MSME Minister Kalraj Misra inaugurated the Incubation Cell in at IIFT which would enable young entrepreneurs to get all the expert advice and technical guidance at one point.

The cell has been designed to provide export start-ups with necessary hand holding support towards expanding their existing domestic business to foreign markets, he added.

The initiative is named as ‘KITTES’ (Knowledge for Innovation in Trade & Technology for Entrepreneurial Start-ups), a dynamic business incubation cell dedicated to startups in the domain of international business.

Run by the Centre of MSME Studies at IIFT, Delhi, the aim of KITTES is to provide hand holding support for MSME start-ups right from ideation stage to their internationalization towards taking a final leap into foreign markets.

Incubation cell will be supported by an advisory body consisting of industrialists, venture capitalists, technical specialists and managers established to help entrepreneurs realize their dreams through a range of infrastructure, business advisory, mentoring and financial services.

IIFT will facilitate mobilising of loans for export purpose, build awareness on export financing and insurance schemes and export promotion measures. (With PIB Inputs)