MSMEs (micro, small and medium enterprises) in India are set to get a fillip from the best minds in specialised mentoring as VMentor.ai and Wadhwani Foundation join forces for strategic collaboration.
While the not-for-profit Wadhwani Foundation, through its initiative Wadhwani Advantage (WA), is known for systematically empowering SMEs to get on an accelerated growth track, through its global funding, world-class frameworks and consulting tools and trainings, VMentor.ai has been consistently empowering MSMEs to deliver 10X business growth with its world-class, tech-enabled, human-intervened mentoring platform.
Samir Sathe, Executive Vice-President, Wadhwani Advantage, said: “Our strategic partnership with VMentor.ai is a win-win for both the organizations as both of us have a mission to help MSMEs by accelerating their growth. We, at Wadhwani Foundation, are on a larger mission of reducing unemployment, which is one of the long-standing and biggest problems of the country.”
Dr Srinivas Chunduru, Founder, VMentor.ai, added, “This alliance is an important step towards creating India’s first MSME incubator that will help the MSME growth trajectory through structured and well-established methodology aptly aided by technology. Leveraging other platforms of VMentor.ai such as Yugma (Platform for Students of Engineering and MBA) will help create the right ecosystem for MSME growth.”
The MSME-accelerator alliance will offer specialised and subsidised mentoring by industry veterans to eligible MSMEs, with a revenue turnover between Rs 5 crore and Rs 100 crore, unlocking their potential for growth quicker and with a more strategic outlook than what the MSMEs’ own capacities would have allowed. The combined frameworks and tools of the two mentor organisations would allow a Do-It-Yourself (DIY), a high-impact delivery model for smaller companies and an adviser-led consulting and project management delivery model for larger companies.
“It marks the beginning of a business-changing experience for select MSMEs who are eligible and become part of our target group. They would go through an assessment process and get mentored by industry experts and supported by Project Management Officers (PMOs) to deliver targeted improvements for enhanced business results,” said Sanjiv Tripathy, President, MSME, VMentor.ai.
VMentor.ai and WA are both committed to revolutionise the way MSMEs approach strategy and implementation, optimising and customising the functional areas of HR, Finance, marketing and sales, operations, supply chain, IT, strategy and compliance and leveraging government policies for targeted results. Both have served several hundred MSMEs and improved their NPS (Net promoter score). VMentor.ai and WA will work together to scale up the MSMEs who would be eligible for their specialised mentoring products and services.
In this pioneering incubator programme, the best practices of each of the partners would be leveraged for the MSME sector – intellectual property, market outreach and networks, execution talent and processes. It would also lead to a community platform where MSMEs can access hundreds of knowledge assets, courses, and master classes.
Together, both the organisations are drawing on their resources to build an ecosystem to support MSMEs, which will ultimately add to capability-enhancement and job-creation by growing the businesses of MSMEs.
Tripathy of VMentor.ai added, “With the USP of VMentor.ai being that of “hand-holding”, “being with the client”, “metrics-driven outcomes” and “strengthening talent development in MSMEs”, the partnership would be able to leverage growth opportunities for MSMEs and boost employment and exports.