Points to Remember:
- SIDBI joins hands with Incuspaze to open coworking space for MSMEs and startups
- In a bid to enhance the business ecosystem for MSMEs and startups, Small Industries Development Bank of India (SIDBI) has partnered with Incuspaze Solutions Private Limited (Incuspaze) to open a first-of-its-kind coworking space exclusively designed for MSMEs and startups.
- The coworking space, called @Workspaze is located at 1, Tolstoy Marg, Connaught Place, New Delhi.
- The initiative that intends to be a market-maker for its segment is only 50 meters away from Barakhamba Metro Station.
- Under this arrangement, an MSME accelerator programme is proposed to be started shortly by SIDBI for the MSMEs and startups who will set up their offices in @Workspaze.
About SIDBI (Small Industries Development Bank of India):
- Small industrial Development Bank of India (SIDBI) is a development financial institution in India
- SIDBI is one of the four All India Financial Institutions regulated and supervised by the Reserve Bank; other three are EXIM Bank, NABARD and NHB.
- Its purpose is to provide refinance facilities and short term lending to industries, and serves as the principal financial institution in the Micro, Small and Medium Enterprises (MSME) sector.
- Formed: 2 April 1990
- Headquarters: Lucknow, Uttar Pradesh, India
- Chairman and Managing Director: Mohammad Mustafa, IAS
Important Possible questions based on above News:
- Recently, SIDBI has partnered with whom to open a first-of-its-kind coworking space for MSMEs and startups? Incuspaze Solutions Private Limited (Incuspaze)
- Who is the current Chairman and Managing Director of SIDBI (Small Industries Development Bank of India)? Mohammad Mustafa