SPJIMR’s Centre for Family Business & Entrepreneurship has launched ‘Vrddhi’- a unique venture accelerator platform.
The accelerator is based on the insight that while many family businesses (especially small and medium family enterprises) and startups lack funding as well as managerial inputs and insights, there are others which can step in to provide, not just financial capital, but also network capital, engagement capital and the Emotional Quotient capital required by the former.
Indeed, in 2021, the World Bank estimated the credit gap for Indian MSMEs – mostly family businesses - at US$ 380 billion, a need that cannot be met by financial institutions alone.
Vrddhi is an idea born out of this insight and seeks to connect family businesses that are fund seekers with those that are fund providers. It will work as a funding accelerator exclusively available to SPJIMR’s alumni and participants belonging to the CFBE.
In doing so, it seeks to strengthen the family business ecosystem, which is the backbone of the Indian economy, contributing to Gross Domestic Product (GDP), employment, exports and foreign exchange for India, Family Businesses are also the crucible of innovation in the business landscape of India. Through Vrddhi, SPJIMR’s CFBE will offer a curated platform to help such family businesses and startups achieve their dreams of growing their businesses beyond traditional boundaries.