- MoU signed to elevate livelihoods, unleash innovations, and empower communities
In a remarkable stride towards advancing the landscape of skill development and entrepreneurship in India, IIM Indore has entered into a game-changing partnership with the National Skill Development Corporation (NSDC). The collaboration signifies a commitment to foster excellence and innovation in these critical domains. The MoU, inked online on September 6, 2023, by Prof. Himanshu Rai, Director, IIM Indore, and Shri Ved Mani Tiwari, Chief Executive Officer of NSDC, is poised to redefine skill development, entrepreneurship, and research in India, aligning the visions of both institutions and leveraging their collective prowess to shape the nation’s skilling ecosystem.
IIM Indore’s vision is not just limited to academic excellence; it is about elevating livelihood opportunities and income levels for families and households across the nation. Prof. Rai emphasized that this collaboration is set to create a unique social impact model backed by pioneering projects that employ innovative approaches. These initiatives will provide professional support to underserved regions, communities, individuals, and Micro, Small, and Medium Enterprises (MSMEs), thereby nurturing a skilled ecosystem primed for market success. A cornerstone of this transformative MoU is its focus on robust research endeavors. “We will embark on joint research activities, encompassing surveys and qualitative research methods, to gain profound insights into industry dynamics and stakeholder needs”, he said. This synergy will identify industry trends, bridge gaps, and gather invaluable data to guide strategic decision-making.
Furthermore, the partnership emphasizes nurturing social and rural entrepreneurship, exemplified by establishing a social/rural entrepreneurship incubator. This incubator aims to expand access to affordable credit, focusing on skill-based credit scoring for nano-entrepreneurs. “We will design dynamic skilling programmes tailored to market demand, while mentorship and incubation support systems will be extended to social enterprises, cooperatives, and SMEs”, said Prof. Rai. This will give an additional opportunity for IIM Indore students to participate in social internships, actively engaging in rural marketing, SHG-Cooperatives promotion, and catalyzing social change.
Shri Tiwari shared his delight in this partnership, highlighting the plan to publicize success stories of grassroots innovators and social entrepreneurs. “The goal is to inspire others and attract support from investors and partners, ultimately creating a sustainable ecosystem that nurtures grassroots innovations and social entrepreneurship, leading to positive societal and economic transformation”, he said. The collaboration also strongly emphasizes strengthening the rural economy through training programmes covering market linkages, marketing, export promotion, leadership, and entrepreneurial orientation, especially for tribal women. Shri Tiwari acknowledged the brilliance of IIM Indore’s courses, foreseeing their potential to empower individuals and communities, thereby fostering inclusive growth.
In the domain of research and data analytics, the partnership will provide guidance and support in data analytics and AI-enabled recommendations, optimizing business processes and decision-making. A critical aspect includes co-creating an impact assessment framework that illuminates the actual impact on individuals, transcending mere data.
Valid for three years, this partnership extends its reach to special NSDC Impact projects, targeting socio-economically deprived sections of society and regions like aspirational districts and border areas.
Committed to nation-building, IIM Indore’s alliance with NSDC symbolizes a transformative partnership embracing research, skill development, entrepreneurship, and social impact, with an unwavering vision to drive positive change and foster inclusive growth in India.