 "Wadhwani Foundation ties up with Clix Capital, Sidbi, others to help SMEs")
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.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%