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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 Cisco Networking Academy Amy Christen told reporters here.
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 assistance upto Rs 50 lakh. The repayment period would be five-seven years.
Rewari said the MSME sector in the country does business of Rs 1.3 crore and contributes eight per cent to the GDP. As part of encouraging new generation of entrepreneurs, a new website www.LaunchPadIndia.In, has also been scheduled to be launched on Friday, Amy said later.
"The website will go live tomorrow to bring all new generation entrepreneurs under one roof", she said.
Cisco has already launched this programme in various countries benefitting around 700,000 students, of which 19 per cent were women, she said.
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