The Hindu Business Line : CISCO partners SIDBI, REC, Tiruchi to promote entrepreneurship

CHENNAI: In a bid to promote entrepreneurship in the country, global leader in networking Cisco on Thursday announced a partnership with Small Industries Development Bank of India and Tiruchirappalli Regional Engineering college- Science and Technology E ntreprenuers Park here. Under this partnership, a new “Information and Communication Technology (ICT) development programme” would be conducted for entrepreneurs and Micro-enterprises in the country, CISCO Vice-President and General Manager of the Cisco Networking Academy, Amy Christen said.

The programme, a pilot study in Tamil Nadu, would also provide financing, mentorship and training to entrepreneurs and micro-enterprises, she said. Based on the response, the programme would be extended to other parts of the country. “Under the programme , SIDBI would provide loans to entrepreneurs, Cisco would subsidize interest repayment and guarantee fees on loans and TREC-STEP would provide customized training and mentoring to participants”.

The new pilot programme would initially involve 10 ICT businesses in Tamil Nadu and businessmen would be provided loan assistance by SIDBI on flexible terms, she said. To a query, SIDBI Deputy Managing Director Rakesh Rewari said they would give loan ass istance unto Rest 50 laky. The repayment period would be five-seven years. - PTI

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