Panel of senior citizens to be formed to provide mentorship to entrepreneurs, says Kerala CM V.D. Satheesan
This initiative aims to bridge the gap between technical know-how and management skills among startups, leveraging the wealth of experience from seasoned professionals to foster growth in the state’s Micro, Small, and Medium Enterprises (MSMEs).
Kerala Chief Minister V.D. Satheesan announced the formation of a panel of senior citizens to mentor entrepreneurs in start-ups, as part of the third edition of the Chief Minister's Entrepreneurship Development Programme (CMEDP) launched by the Kerala Financial Corporation (KFC). During the launch, Satheesan explained that while entrepreneurs may have technical expertise, they often lack managerial and marketing skills.
The government aims to bridge this gap by creating a panel of senior citizens who are experts in various fields. This will not only help integrate young and old, but also enable the use of their vast experience to aid youngsters in growing their businesses. The Chief Minister emphasized that the state government was exploring the successful silver economy models implemented in countries like Japan.
Additionally, the state government has increased the loan limit under the CMEDP to ₹5 crore, with an interest rate of 5%, and raised the age limit for entrepreneurs from 50 to 60 years. Satheesan also stressed the need for a more effective system to monitor the performance of entrepreneurial initiatives that have received loans, beyond merely issuing recovery notices.
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