BizAmp, the first outreach programme of SRI Fund, was presided over by the Secretary, Ministry of MSME, Shri B.B. Swain, and organized by the Ministry of MSME in association with NSIC Venture Capital Fund Limited (NVCFL) at Dimapur, Nagaland, on May 4, 2023. The programme, aimed at empowering MSMEs from the North Eastern States and amplifying their businesses by utilizing benefits under the SRI Fund, saw participation from MSMEs across the region, daughter funds, and other state dignitaries. The programme had dedicated sessions for the participants that included awareness sessions from SBICAP Ventures Limited. The programme also provided a platform for beneficiary MSMEs to present their stories and inspire the aspiring MSMEs present at the event. The event showcased the concerted efforts of the central and state governments, with the presence of industry secretaries from various north-eastern states who provided insights about various policies designed for MSMEs to assist them in their growth.
Pravah 2023, hosted by the Self Reliant India (SRI) Fund was held with the objective of empowering MSMEs for an Atmanirbhar Bharat. The keynote speaker and chief guest for the event was Shri Narayan Rane, Honourable Minister of MSME. The guests of honour were Shri Dinesh Khara, Chairman, State Bank of India and Shri B. B. Swain, Secretary of MSME.
Shri Suresh Kozhikote, CEO, SBICAP Ventures Limited, welcomed all the dignitaries, panellists and all members present and spoke about the objective of Pravah. Dr Ishita Ganguli Tripathy, Addl. Development Commissioner, Ministry of MSME gave insight on the history of the MSME sector in India and how it has evolved.
The Chief Guest, Shri Narayan Rane, Honourable Minister of MSME, gave the keynote address and spoke about the current state of the Indian economy and how MSMEs have played a vital role in boosting it. He addressed the challenges faced by the sector and mentioned how the SRI Fund has helped to overcome those hurdles.
Other guests spoke about SBI’s efforts to help the MSME sector flourish, while some elaborated on the importance of the MSME sector for the Indian economy, the challenges faced by the MSME sector and an insight into the SRI Fund and its activities. Shri Gaurav Kapoor, Head – Capital, UK Government, gave a special address, in which spoke about the UK’s perspective in context to Indian MSMEs.
Pravah also hosted a presentation session for 5 MSMEs who presented their unique enterprises to the dignitaries and the audience, along with three round table discussions on opportunities in MSME investing, LP perspective on navigating a volatile market and domestic LPs as catalysts for MSME growth.
SRI Fund, after a successful launch in 2021, had an incredible run with record empanelment of 32 Daughter Funds in just a year. Now, as the Fund proceeds further, the impact is expected to scale higher. In order to better streamline partnership requests by DFs, SRI Fund supported and managed by SBICAP Ventures Ltd, also launched their all-new Tech Platform that encourages a transparent process to ensure fitment.
This event in Bengaluru was conducted to celebrate the first anniversary of the Fund, hear from DFs on successful partnerships, listen to beneficiary MSMEs and their journey, as well as launch the Tech Platform.