Bhubaneswar B-school inks MoU with centre

To promote first generation entrepreneurs in the micro, small and medium enterprises (MSME) sector in Orissa, the city-based Asian School of Business Management (ASBM) plans to collaborate with the centre’s MSME department for offering training programmes.

ASBM expects to enter into a MoU (Memorandum of Understanding) with the Centre’s MSME department within a month to offer training programmes to the start-ups as well as existing entrepreneurs in the state’s MSME sector.

The management institute has already set up an incubation centre within its campus premises and this centre will cater to the various needs of the MSME sector like providing the requisite training to the entrepreneurs, preparation of project reports for upcoming enterprises and offering consultancy for different MSME projects.

“The MSME department of the centre is keen on having a tie-up with ASBM and we have already completed the first round of negotiations. ASBM expects to sign a MoU with the Centre’s MSME department within a month,” Biswajeet Pattanayak, director, ASBM told Business Standard.

The B-school’s tie-up with the department is also being planned to undertake research projects on major issues concerning the MSME sector and these research projects will be pursued with the participation of the academia as well as the industry.

Pattanayak hinted that ASBM is also exploring the possibility of using its incubation centre to act as the lead agency for providing hand-holding support and assistance to the potential first-generation entrepreneurs under the Rajiv Gandhi Udyami Mitra Yojana (RGUMY).

Under RGUMY, the empanelled lead agencies identify suitable projects. After this and preparation of bankable projects for the same, selection of appropriate technology as well as the preparation and implementation of marketing strategies is also entrusted to these lead agencies.

The proposed tie-up will offer training programmes to the MSME entrepreneurs and foster entrepreneurship spirit among students. We are also looking at arranging seed funding for our students keen on floating new ventures, Pattanayak added. ASBM’s plans to train MSME entrepreneurs in Orissa comes at a time when the state lacks adequate support systems to offer qualitative as well as affordable support to the MSMEs.

Earlier, another city-based B-school, Xavier Institute of Management, Bhubaneswar (XIMB) had inked an agreement with the Industrial Promotion and Investment Corporation of Orissa Limited (IPICOL) to set up the Team Orissa Project Advisory Centre at XIMB (TOPAX).