SIDBI Ties Up with RV Varsity to Promote Entrepreneurship

  • Through the MoU with RV University, SIDBI will launch a specialised course on entrepreneurship

The Small Industries Development Bank of India (SIDBI) and RV University (RVU) signed a Memorandum of Understanding (MoU) on May 16th, 2023, to help promote innovation and entrepreneurship in India. Under the MoU, SIDBI will launch a curated 6-month program aimed at nurturing successful entrepreneurs.

For achieving this, the proposed cohort shall be selected from a broad canvas of aspirants through Psychometric tests, aptitude tests etc. SIDBI will also provide financial support based on specific proposals submitted by RVU or its Centre for Innovation and Entrepreneurship Development and facilitate credit connect and mentorship for launching enterprises.

Speaking on the MoU with RV University, the Chairman and Managing Director of SIDBI, S. Ramann said, “SIDBI’s aim is to promote entrepreneurship. This collaboration between SIDBI and RV University is about the University setting up the curriculum, bringing in an environment where students can gain the benefits of an entrepreneurship study. There will be a lot of learning which is very practical – in terms of knowing about law, accounting, marketing, skills that go alongside technical skills that one might have. This is a start to bringing in a new way of entrepreneurship education within the otherwise well-known structure of education amongst the graduates.”

The MoU was signed by Dr. S S Acharya, Chief General Manager, SIDBI and Prof. Y.S.R. Murthy, Vice Chancellor, RV University in the presence of S. Ramann, Chairman and Managing Director, SIDBI, Prof. Arunkumar A.V., Executive Director and Associate Professor, RVU along with other senior members of the faculty.

This partnership between SIDBI and RVU aims to foster entrepreneurship and self-employment in India, especially among the youth, and contribute to the country’s economic growth.

“The youth these days are looking at different ways of creating value and making a difference. Students should get opportunities to do something where they try to tackle problems. Continuous education becomes critical here where courses such as these can help students take a clearer decision in their lives.” he added.

As proposed by SIDBI for onboarding aspiring entrepreneurs, RV University will carry out an impact assessment study of the initiative after successful completion of the projects. Under the MoU, both institutions will work closely on bridging gaps in the entrepreneurship domain where they can play complementary roles.

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