IIM Indore, NSDC ink MoU to revolutionize skill development and entrepreneurship

IIM Indore joined forces with National Skill Development Corporation (NSDC) to elevate livelihoods, unleash innovations, and empower communities. The MoU was signed by Prof. Himanshu Rai, Director, IIM Indore, and Ved Mani Tiwari, Chief Executive Officer of NSDC.

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 critical domains. The MoU was inked online on September 6, 2023, by Prof. Himanshu Rai, Director, IIM Indore, and Ved Mani Tiwari, Chief Executive Officer of NSDC.

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.

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. 

The partnership emphasizes nurturing social and rural entrepreneurship, exemplified by establishing a social/rural entrepreneurship incubator.

“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.

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, said the official statement.

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