Cisco, ties, with, SIDBI,, TREC-STEP, incubator

Global networking giant Cisco, which is famous for its VPN and routers has tied up with Small Industries Development Bank of India (SIDBI) and Tiruchirapalli Regional Engineering College Science and Technology Entrepreneur Park(TREC-STEP) for an incubator. This incubator will focus on small and medium enterprises (SME’s). The tie up is to help the budding entrepreneurs by  providing capital, expertise and management

Incubators are not new in India, but relatively less. The management institutes and the IIM’s have their own incubators. A few engineering colleges have also their own incubators. One such incubator is TREC-STEP. TREC has for far promoted several businesses.

Coming back to this tie-up :

SIDBI will provide the financial support (up to 50 lakhs)

Cisco will provide the technology, provide a guarantee on the loans and subsidize the interest rates.

TREC-STEP would train and mentor the SME’s

This programme will be piloted in Tamil Nadu for 10 businesses.

At times when capital is hard to come by and the big boys are finding it hard to raise capital, this incubator is a god send to the SME’s. The outlook is not that bleak after all and if you the idea you can still survive.

It would be interesting to see the 10 businesses that will be selected for this programme.