Easy business for MSMEs: The non-profit Wadhwani Foundation and mentorship platform VMentor.ai announced a strategic partnership on Tuesday to establish India’s first MSME incubator. The alliance provides specialized and subsidized mentoring by industry veterans to eligible MSMEs with revenues between Rs 5 crore and Rs 100 crore to help them grow faster and with a more strategic view than what MSMEs’ proprietary capabilities would have allowed, the company said. in a statement.
The combined frameworks and tools of the two mentoring organizations – Wadhwani Advantage (Wadhwani Foundation SME initiative) and VMentor.ai – could enable a do-it-yourself (DIY), a powerful smaller business delivery model and a consultant. to make. guided consulting and project management model for larger companies, the statement said.
“Our strategic partnership with VMentor.ai is a win-win for both organizations as we are both on a mission to help SMEs by accelerating their growth. We, at Wadhwani Foundation, have a greater mission to reduce unemployment, which is one of the country’s longstanding and biggest problems,” said Samir Sathe, Executive Vice-President, Wadhwani Advantage.
The incubator will support SMEs in strategy and implementation, optimizing and adapting the functional areas of HR, finance, marketing and sales, operations, supply chain, IT, strategy and compliance, and leveraging government policies. The program will also create a community platform where MSMEs will have access to hundreds of knowledge resources, courses and masterclasses, it said.
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“It marks the beginning of a business-changing experience for selected SMEs that qualify and become part of our target audience. They would go through a review process and be guided by industry experts and supported by Project Management Officers (PMOs) to deliver targeted improvements for better business outcomes,” said Sanjiv Tripathy, President, MSME, VMentor.ai.
The Wadhwani Advantage program leverages artificial intelligence-based mobile technology platforms to help small businesses scale faster and create jobs. The company helps SMEs survive and grow faster by underlining the underlying problem with product, innovation, geography, customer, capital and people. According to the program’s website, it has partnered with more than 1,000 SMEs in more than 25 industries to help achieve their 2-5x revenue growth.