Hyderabad: Hyderabad-based National Institute of Micro, Small and Medium Enterprises (NI-MSME), an organisation of the Ministry of MSME, Government of India, has rolled out a regular full-time programme exclusively for prospective entrepreneurs, budding entrepreneurs, family business entrepreneurs and CEOs of startups, the Post Graduate Diploma in Entrepreneurship and Enterprise Development (PG-DEED).
The first batch is scheduled to begin from August 6, 2018. The idea of the programme is to create job creators rather than job seekers.
NI-MSME director Dr Sanjeev Chaturvedi told Telangana Today, “We want to provide fundamentals of entrepreneurship in the classroom as well as making their ideas workable as a business. Our programme is going to be unique for one reason-we will be handholding the candidate for three years after the programme is completed. Usually we see that once the candidates pass out, sometimes they get loans and sometimes they don’t. They see a lot of uncertainties and their businesses collapse eventually. Our belief is that if we support them during the first three years of their entrepreneurial journey, the rate of survival goes up as well as they will be able to scale up their businesses. We will also ensure that their geographic strategy is right. They might aim for global markets but they also should choose the right regional market as their base that suits their sector and business concept.”
He explains, “We have divided the course into three parts. First four months focus on fundamentals on management, marketing, human resource and finance. The next four months will focus on the product or service the entrepreneur wants to pursue in the entrepreneurial journey. We will have mentors from specific industries guiding individual candidates and telling them the intricacies of the sector. The last three months of the programme, we will not only take a closer look at their individual projects, we will also be approaching funding agencies to utilise the schemes to turn their ideas into a business venture, besides helping them list their companies. There could be possibilities of candidates pursuing the programme launching businesses together.”
NI-MSME has been associated with SBI, Andhra Bank in the past for several initiatives. YES Bank has met the institute and expressed its interest to develop an app for candidates. Mentors are also handpicked to help the candidates with right direction.
The programme consists of comprehensive modules on theoretical inputs, governmental initiatives and regulations as well as extended internship module, which would enable the candidate to come out with an operational strategy to make the business successful.
The programme is aimed to helping aspiring entrepreneurs to launch own businesses. It envisages to support innovative entrepreneurship besides translating their ideas to feasible ventures and prototypes. NI-MSME has taken inputs from industry and industry bodies in designing the programme. It will continue to look at close industry ties going forward.
The institute is expecting a mix of candidates/entrepreneurs from across the country. Of the 40 candidates the first batch will admit, 50 per cent could be from Telangana while the rest could be from any part of the county.
Dr Chaturvedi says, “Telangana has built a strong startup ecosystem and has created a brand for itself for its entrepreneurs. This will attract candidates from across the country. Once this batch gets successful, we will continue to upgrade the curriculum to match the changing needs. We will not be looking at the number game, we will rather looking at enhancing quality year-on-year.”
When asked about other future initiatives that the institute is contemplating, he informed, “We will soon look at a women entrepreneur oriented programme, as such dedicated programmes are lacking in the country at present. We can have 40 women entrepreneurs in a programme on the similar lines of the PG-DEED.”