SIDBI and CSC Collaborate to Open Swavalamban Connect Kendras in Bihar and Jharkhand

The Small Industries Development Bank of India (SIDBI) and the Common Services Centre (CSC) have signed a Memorandum of Understanding (MoU) at the SIDBI Head Office in Lucknow, in a major step to support entrepreneurship and promote economic growth in rural areas. The partnership aims to establish Swavalamban Connect Kendras (SCKs) across Bihar and Jharkhand, to empower aspiring entrepreneurs and transform them into job creators.

The Swavalamban Connect Kendras (SCKs) are envisioned as comprehensive centers that will serve as one-stop destinations for guiding and nurturing local talent towards entrepreneurial endeavors. These centers will play a pivotal role in creating awareness, identifying gaps in the market, facilitating skill development, generating localized project profiles, providing access to credit, and offering post-handholding support such as market linkage.

Under this initiative, 35 centers will be established in Bihar and 16 centers in Jharkhand. The primary objective is to cultivate a culture of entrepreneurship and stimulate economic development by fostering the growth of small and medium enterprises (SMEs) in the region.

The initiative is aligned with the broader objectives of Mission Swavalamban, aiming to transition from mere awareness to tangible action, including enterprise setup and expansion. By bridging the gap between entrepreneurial aspirations and practical support, the initiative seeks to convert dreams into viable business ventures.

Sivasubramanian Ramann, Chairman and Managing Director of SIDBI, reiterated the institution's commitment to nurturing the entrepreneurial spirit among the youth. He emphasized the pivotal role of access to finance, mentorship, and market linkages in fostering a conducive environment for startups to thrive.

Sanjay Rakesh, MD-CEO of CSC SPV, highlighted the transformative power of digital empowerment in rural India. He underscored CSC SPV's track record in promoting rural entrepreneurship and expressed confidence in leveraging SIDBI's support to realize the shared vision of fostering inclusive growth through entrepreneurship.

Role of Swavalamban Connect Kendras

The Swavalamban Connect Kendras (SCKs) will play a multifaceted role in supporting aspiring entrepreneurs:

1. Awareness Campaigns: Organizing campaigns to raise awareness about entrepreneurship opportunities.

2. Guidance for Enterprise Setup: Providing guidance and assistance to individuals interested in setting up their own enterprises.

3. Access to Finance: Facilitating access to funds, including loans through platforms like Udyamimitra and PSB Loans in 59 Minutes.

4. Local Knowledge and Support: Offering insights into potential enterprises, addressing challenges, and providing informational resources.

5. Promoting Entrepreneurial Culture: Inspiring youth to embrace entrepreneurship through motivational videos, jingles, and interactive sessions.

By fostering a supportive ecosystem for entrepreneurship, the partnership between SIDBI and CSC aims to drive inclusive growth in rural areas. Through the Swavalamban Connect Kendras, aspiring entrepreneurs will receive the necessary guidance, resources, and support to translate their business ideas into reality, thereby contributing to job creation and economic prosperity in the region.