Chennai, June 21 (Representative) VMentor.ai and Wadhwani Foundation today joined hands to set up India’s first MSME incubator. MSMEs (micro, small and medium enterprises) in India are set to get a fillip from the best minds in specialised mentoring as VMentor.ai and Wadhwani Foundation join forces for this strategic collaboration. While the not-for-profit Wadhwani Foundation, through its initiative Wadhwani Advantage (WA), is known for systematically empowering SMEs to get on an accelerated growth track, through its global funding, world-class frameworks, consulting tools and training, VMentor.ai has been consistently empowering MSMEs to deliver 10X business growth with its world-class, tech-enabled, human-intervened mentoring platform, according to a press release. WA Executive Vice-President Samir Sathe said “our strategic partnership with VMentor.ai is a win-win for both the organizations as both of us have a mission to help MSMEs by accelerating their growth.
We, at Wadhwani Foundation, are on a larger mission of reducing unemployment, which is one of the long standing and biggest problems of the country.” Dr Srinivas Chunduru, Founder, VMentor.ai said “this alliance is an important step towards creating India’s first MSME incubator that will help the MSME growth trajectory through structured and well-established methodology aptly aided by technology.” Leveraging other platforms of VMentor.ai such as Yugma (Platform for Students of Engineering and MBA) will help create the right ecosystem for MSME growth, he said. The MSME-accelerator alliance will offer specialised and subsidised mentoring by industry veterans to eligible MSMEs with a revenue turnover between Rs 5 crore and Rs 100 crore, unlocking their potential for growth quicker and with a more strategic outlook than what the MSMEs’ own capacities would have allowed. The combined frameworks and tools of the two mentor organisations would allow a Do-It-Yourself (DIY), a high-impact delivery model for smaller companies and an adviser-led consulting and project management delivery model for larger companies.
“It marks the beginning of a business-changing experience for select MSMEs who are eligible and become part of our target group. They would go through an assessment process and get mentored by industry experts and supported by Project Management Officers (PMOs) to deliver targeted improvements for enhanced business results,” said Sanjiv Tripathy, President, MSME, VMentor.ai. In this pioneering incubator programme, the best practices of each of the partners would be leveraged for the MSME sector – intellectual property, market outreach and networks, execution talent and processes. It would also lead to a community platform where MSMEs can access hundreds of knowledge assets, courses and master classes, the release said. It said together, both the organisations are drawing on their resources to build an ecosystem to support MSMEs, which will ultimately add to capability enhancement and job-creation by growing the businesses of MSMEs.