Small Industries Development Bank of India (SIDBI), set up on April 2, 1990 under an Act of Indian Parliament, which acts as the Principal Financial Institution for the Promotion, Financing
and Development of the Micro, Small and Medium Enterprise (MSME) sector and for coordination of the functions of the institutions engaged in similar activities, has kickstarted Mission Swavalamban to foster entrepreneurship culture in the country.
In order to further strengthen Mission Swavalamban, SIDBI has joined hands with LetsEndorse Development Pvt. Ltd. to launch Swavalamban Connect Kendras in selected 100 districts of India in Phase 1 of the program, which aims to empower 10,000 micro-enterprises (7,000 new and 3,000 through scale-up capital). These Kendras (or physical centres for enterprise aspirants) shall play a pivotal role by creating awareness about entrepreneurship in the local area and leading aspirants through the process of enterprise set-up.Mission Swavalamban is a flagship program of SIDBI. Swavalamban Connect Kendras are empanelled by Lets Endorse to further the mission of creating and nurturing 10,000 MSMEs.
Following are the objectives of the project:
- Creating awareness in communities through organizing Sabhas, Nukkadnatakas etc.
- Approaching, understanding (due diligence)& profiling enterprise aspirant
- Linking the aspirants to relevant skill/entrepreneurship development program.
- Developing/refining business plan of aspirants.
- Fostering credit linkages with local banks, preferably under PM Mudra Yojana
- Ensuring enterprise setup
- Ensuring enterprise scale up & sustainability (regular check-ins, mentorship etc.)
- Awareness through mass campaigns (print/digital media).
- 2000 people were made aware about the program by holding 3 awareness meetings on entrepreneurship options and on the schemes like Mudra Yojna that are being run by the government for the people in order to support them for the same.
- As a result of the awareness, 800 people showed enthusiasm and applied for the loan.
- Out of them 100 people started their own business and small enterprises like grocery store, tea snacks store, cosmetic store, vegetable and fruit vending, carpentary, mobile repairing shops etc. with the assistance of the organization as we connected them with the Banks and helped in getting loans for their respective venture.