Gurugram, India, November 7, 2020: With the intent to support MSMEs with
adequate professional input, training on regilience and funds, leading business
accelerator firm India Accelerator (IA) has launched India’s first MSME
Accelerator programme. As part of the initiative, IA management has decided to
select 100 potential MSMEs under this programme across the nation in various
sectors in the first year.
The announcement of IA comes at a time when the MSME sector is facing an
existential crisis in the Pandemic and this sector is plagued with issues such
as high cost of capital, low sales, disrupted supply chains etc.
Elaborating on the need of the programme, Ratish Pandey, Lead-IA MSME
Accelerator, said: “With this program, we impart the basics needed to set up a
business for success. We tool the budding entrepreneurs to put their best foot
forward. The program based on practical
step-by-step business strategies has been successful and proven to work by tens
of thousands businesses all around the world. Young entrepreneurs, with a mix
of classroom sessions and practical workshops, are empowered with ideas that
they can straight away implement in their business, see a positive return on
their investment before the program ends.”
While on one hand the selected MSMEs will undergo the accelerator
programme for growing their businesses, they will also get access to bankers
and financiers to address their requirements. Besides, the MSMEs can take
advantage of IA’s startup ecosystem enriched with young and technically
Deepak Sharma, Chief Agility Officer at IA, stated: “The Accelerator
programme is going to happen in a phased manner. We are focusing on MSMEs
around Delhi-NCR in the first phase. We are in constant touch with various industry
associations in this region to make this ambitious project successful.”
India Accelerator has accelerated close to 60 companies so far and aims
to leverage its startup ecosystem to benefit the MSMEs.
The program also aims to merge India’s rapidly growing startup ecosystem
with the MSME Sector to leverage ‘Technology and Innovation’ of the Startups
and the ‘experience and knowledge’ of MSMEs.
“Depending upon the success of the project, we will further expand this
programme. We have set a target of enriching at least 500 MSMEs in another 3
years with our expertise and ecosystem to begin with,” further said Mr. Pandey,
who was earlier General Manager, India, Middle East & Africa at Bose
India Accelerator has roped in seasoned technologists and entrepreneurs
as coaches for the participating MSMEs.
The structure of the programme contains topics such as Change Management
& Mindset Transformation, Growing Sales through Innovation and Digital
Marketing, Financial Modeling and Fundraising, Digital Transformation & ERP
Management and Supply Chain and Distribution Management.
For the benefit of readers, ‘Accelerators’ are typically intense rapid
programs targeting growth-stage startups to help accelerate the life cycle of
young innovative companies, modeled on a similar concept, this program aims to
help MSMEs boost Sales, inculcate innovation and expand globally.
The programme comprises a module of eight hours each spanning over two
weeks on weekends.