Wadhwani Foundation ties up with Clix Capital, Sidbi, others to help SMEs

Commits Rs 200 crore for initiative, which will support 10,000 SMEs with business survival, stability, and growth consulting to help save or create up to 100,000 jobs

The Wadhwani Foundation (WF) has committed Rs 200 crore for its initiative to help distressed small and medium enterprises (SMEs) affected by the economic crisis and public health workers improve Covid-19 knowledge and skills.

The foundation has signed partnerships with Sidbi, Clix Capital, IIFL Finance, Power2SME, and Magma Fincorp to select the SMEs for this programme jointly, a statement said.

Additionally, the foundation is planning to partner with KPMG, FlexingIt, GroCurv, Strategy Garage, Bada Business, VentureBean Consulting, The Catalyst, Imbibe Consultancy Services, Black Brix Services, KonektUp, CFOBridge, Midas CFO, Dhandabadhao.com, and several other ndividual subject matter experts, advisors and mentors, to provide SME consultants to this initiative at pro bono or substantially discounted rates.

The initiative will support 10,000 SMEs with business survival, stability, and growth consulting to help save or create up to 100,000 jobs. It will  skill 0.5 million to one million Asha, anganwadi, nurses' aides and home-health workers in Covid-19 patient care, using digital platforms.

The initiative will  provide innovation grants to up to 50 start-ups and early-stage companies to help accelerate innovation in public health technology in India.

Clix Capital chairman Pramod Bhasin said, “While the government through various measures has ensured that affordable credit is available to MSMEs who need it, expertise and specialized talent across specific areas continue to be a major handicap. Through our partnership with the Wadhwani Foundation, we aim to create a support program to plug the skill gap for our MSME partners with measurable outcomes.”

The foundation is a non-profit entity serving India and other developing countries with the aim of accelerating job creation through large scale initiatives in entrepreneurship, SME growth, and skilling.