SIDBI to start Swavalamban Express on Jun 5 for budding entrepreneurs

The Small Industries Development Bank of India (SIDBI) on Thursday said it will start Swavalamban Express on June 5 this year for budding entrepreneurs.

The principalfinancial institution engaged in promotion, financing and development of micro, small and medium enterprises (MSMEs) said the decision to start the train was taken based on the feedback received from various stakeholders.

"The Swavalamban Expresswill start from June 5 and will travel to 11 enterprising cities starting from Lucknow and thereafter to Jammu, Delhi, Jaipur, Ahmedabad, Mumbai, Bengaluru, Hyderabad, Bhubaneswar, Kolkata and finally to Varanasi in a span of 15 days covering 7,000 km," it said in a statement.

The agency noted that the participating budding and aspiring entrepreneurs and start-ups will receive over 20 workshops and interactions which shall help to boost their growth in their entrepreneurial journey.

"The Swavalamban Express train is a part of our umbrella mission Swavalamban which aims to induce entrepreneurship culture amongst youth. It's an aspirational journey powered by inspirational India," SIDBI Chairman and MDMohammad Mustafa said.

As part of the mission, youths will board the train with an idea, and after series of experiential learning will get down with ready business plan, he said.

"Each enterprising city shall carry theme on enterprise setting up. It would be unique exposure for being a Swavalambi. A school beyond four walls," Mustafa added.

Swavalamban Express is aimed towards enhancing the knowledge of participants about financial and non-financial aspects of enterprise running.

This will be done through experts and mentors boarding the train in between, interaction with role models, brain storming and group discussions.

SIDBI expects 500 youths to be a part of this journey, Mustafa said.