Bengaluru, May 16, 2023: The Small Industries Development Bank of India (SIDBI) and RV University (RVU) signed a Memorandum of Understanding (MoU) on May 16th, 2023, to help promote innovation and entrepreneurship in India.

The MoU was signed by Dr. S S Acharya, Chief General Manager, SIDBI and Prof. Y.S.R. Murthy, Vice Chancellor, RV University in the presence of Shri S. Ramann, Chairman and Managing Director, SIDBI, Prof. Arunkumar A.V., Executive Director and Associate Professor, RVU along with other senior members of the faculty.

This partnership between SIDBI and RVU aims to foster entrepreneurship and self-employment in India, especially among the youth, and contribute to the country's economic growth.

Under the MoU, SIDBI will launch a specialized course on entrepreneurship for aspiring youth, ITI-trained students, NSDC-skilled aspiring entrepreneurs, and others. SIDBI will also provide financial support based on specific proposals submitted by RVU or its Centre for Innovation and Entrepreneurship Development and facilitate credit connections and mentorship for launching enterprises.

Speaking on the MoU with RV University, the Chairman and Managing Director of SIDBI, S. Ramann said, “SIDBI’s aim is to promote entrepreneurship. This collaboration between SIDBI and RV University is about the University setting up the curriculum, bringing in an environment where students can gain the benefits of an entrepreneurship study. There will be a lot of learning which is very practical – in terms of knowledge about law, accounting, marketing, and skills that go alongside technical skills that one might have. This is a start to bringing in a new way of entrepreneurship education within the otherwise well-known education structure amongst the graduates.”

“The youth are looking at different ways of creating value and making a difference. Students should get opportunities to do something where they try to tackle problems. Continuous education becomes critical here where courses such as these can help students take a clearer decision in their lives.” he added.

Echoing the views of the Director, Prof. Y.S.R. Murthy, Vice-Chancellor, RV University, added, “SIDBI is a major public financial institution with an excellent track record. We are excited to collaborate with SIDBI and leverage our campus infrastructure and faculty resources to identify motivated students and participants and provide an implementation framework for the proposed partnership. We believe that this MoU will help us achieve our mission of promoting innovation and entrepreneurship and contribute to India's economic growth.”

As proposed by SIDBI for onboarding aspiring entrepreneurs, RV University will carry out an impact assessment study of the initiative after successful completion of the projects. Under the MoU, both institutions will work closely on bridging gaps in the entrepreneurship domain where they can play complementary roles.

About RV University

Backed by the 83-year-rich legacy of RV Educational Institutions, RV University, which commenced operations in 2021, is a new-age, tech-driven, global university that imparts high-quality, liberal education with an interdisciplinary curriculum. The university offers undergraduate, postgraduate and Ph.D. programmes in six academic disciplines of Liberal Arts and Science, Design and Innovation, Business, Economics, Computer Science, Engineering and Law. It has partnerships and collaborations with over 100 reputed foreign universities, institutions, and companies.