Date:22/12/2004 URL: http://www.thehindubusinessline.com/2004/12/22/stories/2004122202691700.htm

Back ISB unveils `K-Hub' for SME techies

Our Bureau

Hyderabad , Dec. 21

AIMED at helping the entrepreneurs in the small and medium enterprise (SME) segment from conception to commercial stage, Indian School of Business (ISB), the Hyderabad-based premier management institution, has unveiled `K-Hub' (Knowledge Hub).

The Andhra Pradesh Chief Minister, Dr Y.S. Rajasekhara Reddy, inaugurated the business accelerator initiative, which is set to act as one-stop-shop for high-technology SMEs. The Wadhwani Centre for Entrepreneurial Development of ISB has set up the Hub in alliance with the AP Government.

Dr Reddy said the country has best of talent but lagged behind in managerial capabilities. He expected the `K-Hub' to shape the budding entrepreneurs into successful business giants.

The ISB Dean, Dr M. Rammohan Rao, said `K-Hub' would provide mentoring and a range of related services that give the client enterprises a strong competitive advantage so that they would be well positioned to achieve success.

It would primarily act as virtual facility offering business guidance for idea-stage entrepreneurs and growth-entrepreneurs creating a one-point stop for sourcing support services.

The `K-Hub' would focus on creation of high quality entrepreneurship in information technology, biotechnology, pharmaceuticals and agro-processing, to start with. Apart from directly entertaining the business proposals from the prospective entrepreneurs, the K-Hub would also get referrals from venture capitalists, incubators, angels and R&D centres.

Stating that the ISB K-Hub would commence activities within the ISB campus as a combined physical and virtual facilities/access model with minimal initial investments, Dr Rao said the Industries Department of the AP Government has agreed to meet the running costs of the K-Hub in the first few years.

The Government has also agreed to contribute to the initial corpus of the Germination Fund. This fund would be utilised to meet project specific out-of-pocket expenses and project specific business development service providers' charges, he said.

The SIDBI In-charge Chairman and Managing Director, Mr N. Balasubramanian, has termed `K-Hub' as missing link between the industry and academia.

Highlighting the initiatives of SIDBI in the growth of SME segment through venture capital, he cited the steps such as Technology Bureau and Rs 500-crore SIBDI Venture Fund. He said SIDBI was in the process of forging alliances with more management institutions such as ISB for helping the entrepreneurs in the SME segment.