Workshop on “Accessing MSME Funding: Opportunities for Aspiring Entrepreneurs”

On 09.1.2025, a Workshop on “Accessing MSME Funding: Opportunities for Aspiring Entrepreneurs” was organized by the Entrepreneurship Development Cell and IIC in association with the Department of Information Technology. The session was handled by Dr. R. Prem Ananth IIC Convenor, Assistant Professor / Dept. of ECE, FXEC, from 1.20 PM to 3.00 PM. A total of 60 III-year students and two faculty members participated. The event was coordinated by Mr. F. Richard singh samuel AP/IT, under the guidance of Dr. Lourdes Poobala Rayen, EDC Director.

The session began with an introduction to the Micro, Small, and Medium Enterprises (MSME) sector and its critical role in driving economic growth and job creation in India. The speaker emphasized that accessing funding is a key challenge for aspiring entrepreneurs, but understanding the available opportunities and processes can significantly improve success rates. Participants were introduced to the various funding schemes offered by the government, banks, and financial institutions, including the Prime Minister's Employment Generation Programme (PMEGP), MUDRA loans, and Credit Guarantee Fund Scheme for MSMEs (CGTMSE).

The speaker elaborated on the eligibility criteria, application processes, and documentation requirements for securing MSME funding. The workshop also highlighted the importance of creating a robust business plan, which serves as the foundation for convincing lenders or investors. Participants learned how to prepare a compelling pitch that showcases their business idea's potential, financial viability, and alignment with market needs. Additionally, the session underscored the importance of financial discipline, credit worthiness, and maintaining clear records to build credibility with funding bodies. The speaker also discussed alternative funding sources, such as angel investors, venture capital, and crowdfunding, and how these could complement traditional MSME funding.

Participants gained valuable insights into identifying the right funding opportunities, aligning them with their entrepreneurial goals, and navigating the application process effectively. The key takeaway for participants was that accessing funding is not merely about meeting financial requirements but about demonstrating commitment, innovation, and the potential for long-term growth.