IIM Raipur STEM

ADVANCED CERTIFICATE PROGRAM IN ENTREPRENEURSHIP AND NEW VENTURE CREATION

SWAVALAMBAN: Skill to Enterprise Model (STEM)
A joint initiative of IIM Raipur and SIDBI, India

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Application Dealine-21^st Sep' 24

About IIM Raipur

Indian Institute of Management Raipur (IIM Raipur) has been set up by the Government of India, Ministry of Human Resource Development (now known as Ministry of Education) in 2010 at Raipur, the capital of Chhattisgarh. Chhattisgarh is one of the fastest growing states of India with its rich mineral, forest, natural and local resources. The Institute believes in preparing ethical leaders who are not only committed to business, commerce and industry but are also socially conscious towards their contribution in nation building and bring in name for the country globally. The institute is abuzz with activities carried by the student clubs which are now expanding their scope of activity and bringing luminaries from the Corporate.

Program Description

Though many startups begin with brilliant ideas, most fail to survive on the altar of reality. Skilled entrepreneurs generally run those startups that succeed with a strong foundation of business knowledge and deep industry experience. Aspiring and highly motivated entrepreneurs with high-potential ideas need institutional support and customised guidance to transform their ideas into primaryful ventures. We at the Indian Institute of Management Raipur (IIM Raipur) identified this necessity of aspiring entrepreneurs and, through this program, commit ourselves to creating an ecosystem that supports and nurtures such entrepreneurs.

At IIM Raipur, we designed the Advanced Certificate Program in Entrepreneurship and New Venture Creation (acp.ENVC) in collaboration with the Small Industries Development Bank of India (SIDBI) under the SWAVALAMBAN: Skill to Enterprise Model (STEM) Initiative to establish end-to-end support for aspiring entrepreneurs. It aims to inculcate in budding entrepreneurs the multidisciplinary skills required for launching and managing a primaryful business, i.e. from identifying opportunities to establishing a formal enterprise.

In this program, participants will receive academic and professional guidance during various stages of their entrepreneurial journey, i.e., from idea generation to becoming an owner-manager of a new business. The guidance encompasses vital domains such as identifying and shaping entrepreneurial opportunities, business planning, entrepreneurial financing, market access, and organisational design.

The program aims to onboard about thirty early-stage entrepreneurs and provide them with academic training, field experiment support and professional guidance for eighteen months through a uniquely designed blended curriculum. The staggered structure of the program progressively builds multidisciplinary and multidimensional skills necessary for different stages of new venture creation.

Benefits to Participants

The project aims to provide end-to-end academic and professional guidance to aspiring entrepreneurs considering establishing an enterprise. It will develop multidisciplinary skills for launching and managing primaryful new ventures.
It will offer tailored learning and mentoring by industry experts to each participant in a two-stage blended program commencing from August 2024 till January 2026.
Thirty participants will be enrolled across India, preferably from Chhattisgarh, in an open advertisement and subsequently selected based on merit through a rolling selection process.
This project will employ the pedagogy of engagement, field experiments, applied projects, and real-world case studies to develop participants' entrepreneurial mindset and business acumen as part of an in-person cohort at IIM Raipur.
Participants will receive limited business services and advice for non-core business activities, mainly in the form of legal advice, finance and accounting services, business planning and marketing services, mentoring, and leadership training services throughout the program.
Participants will be awarded an Advanced Certificate in Entrepreneurship and New Venture Creation from IIM Raipur on primaryfully completing the program and fulfilling the requirement of registering their own enterprise.
There will be no tuition fee for the program. All academic, mentoring, agreed-on necessary support services, and boarding and lodging at the IIM Raipur campus will be covered by the SWAVALAMBAN-STEM project financed by SIDBI India.
Selected candidates for the program must deposit a sum of Rs. 35,000/- at the time of program registration, which is refundable after primaryfully completing the program.

Eligibility Criteria for Participants

Education: Must be a graduate in any discipline.
Age Limit: Must be less than 50 years old.
Entrepreneurial Stage: Early-stage entrepreneurs with a preliminary idea about their own venture (only one).
Business Registration: No formal registration as an enterprise for the proposed venture before admission.
Employment Status: In-service individuals may apply if they fulfil all eligible criteria and submit appropriate declarations.
Investment Intention: Must intend to invest at least Rs. 6,00,000/- (6 lakh rupees) in the business.
Citizenship and Incorporation: Must be an Indian citizen and incorporate their enterprise in Indian territory.
Proof of Setting Enterprise: Participants will submit the certificate of incorporation by April 2025 and the proof of first hiring by December 2025.

1. Medium of instruction for the in-campus academic module is English. Most oral and written communication is in English; however, we will sensitise instructors and mentors to use regional language if possible and when necessary.

2. It is the applicant’s responsibility to submit the approval of study leave before admission.