BCIC and JAGSoM Launch Academic Program for SMEs

Bangalore Chamber of Industry and Commerce (BCIC) along with all major SME Associations of the state signed a Memorandum of Understanding (MoU) with Jagdish Sheth School of Management (JAGSoM) to launch the country’s first Academic Program for SMEs. The primary objective of the MoU is to design and promote exclusive academic programs tailored to train candidates in effectively managing Small and Medium Enterprises (SMEs).  The MoU was signed in the presence of Sushri. Shobha Karandlaje, Hon’ble MoS for MSME & Labour and Employment, Government of India, and Dr. C. N. Manjunath, Hon’ble MP, Bangalore Rural Lok Sabha Constituency. Major MSME associations, who signed the MoU along with BCIC included the Peenya Industries Association (PIA), Karnataka Small Scale Industries Association (KASSIA), and Laghu Udyog Bharati (LUB).

Sushri. Shobha Karandlaje, Hon’ble MoS for MSME & Labour and Employment, Government of India said, “Karnataka has set yet another precedent through this pioneering SME management program. It is a testament to the industry’s commitment to nurture this vital sector. I wish to congratulate the associations and JAGSoM on this first of its kind unique initiative. MSMEs contribute significantly to the economy and several large industries like HAL and BEL depend on them for several vital components. I request all MSMEs to think global as there is a huge opportunity worldwide for the growth of this sector. MSMEs can grow only if the central and state governments and the industry works together and, on our part, we are willing to meet you and discuss all your issues for suitable solutions.”

The academic program for SMEs includes a Post Graduate Diploma in Management for SMEs (PGDM – 2 years) and Management and Business Administration of SMEs (MBAS – 1 year), both recognized by AICTE and accredited by AACSB. Participants who complete the one-year certificate program can pursue additional credits to earn a PGDM.

Speaking on the occasion, Dr. C. N. Manjunath, Hon’ble MP, Bangalore Rural Lok Sabha Constituency, said, “Micro changes bring macro transformation and this is the greatest strength of the MSME sector. The PGDM for SMEs that has been announced today is a significant step towards empowering SMEs, which are the backbone of our economy. We need to keep in mind that nearly 40% of Industrial jobs as well as exports come from the MSME sector. The collaboration between industry associations and academic institutions will ensure that our SMEs are equipped with the necessary skills and knowledge to sustain and grow in today’s competitive environment.”

Commenting on the MoU signing, Dr. S. Devarajan, President of BCIC said, “SMEs are the lifeline of any economy, more so in India, and contribute maximum employment and major exports. Most however, do not survive beyond the lifetime of the entrepreneur. To bridge this gap, BCIC curated a unique course in association with JAGSoM to upskill second line management through a PGDM recognised by AICTE and accredited by AACSB. Under this MoU, BCIC, KASSIA, PIA, and LUB will encourage their SME member units to participate in the program by sponsoring candidates, actively advising on curriculum improvements based on business and technology challenges, conducting periodic awareness programs for members, associates, affiliates, startups, and prospective entrepreneurs, and deputing experienced entrepreneurs and operating managers as guest lecturers to bring practical experience to the classroom.”

“Under the MoU, JAGSoM will design the program, develop the curriculum, and identify faculty. We will also oversee the rollout of the program and provide necessary infrastructure facilities. Through this program candidates will gain business and managerial knowledge, focus on building the skills and attitude needed to manage SMEs, and achieve accelerated career progression. SMEs will thereby benefit from the creation of a second line of leadership to scale up and expand operations." said Dr. Atish Chattopadhyay, Director JAGSoM.

The MoU signing coincided with International MSME Day and PIA Founders Day