Hyderabad, 15th June 2023 – We are delighted to announce nicheBrains’ partnership through a Memorandum of Understanding (MOU) with Telangana Industrial Health Clinic Limited (TIHCL), a fintech Non-Banking Financial Company (NBFC) envisioned by the Telangana State Government to revive and rehabilitate manufacturing MSMEs. This momentous collaboration aims to address the challenges faced by MSMEs, providing them with vital credit, expertise, and access to a network of trusted solution providers.
Micro, Small, and Medium Enterprises (MSMEs) form the backbone of the economy, yet they often encounter financial difficulties, debt burdens, and a lack of specialized knowledge and expertise. The partnership between nicheBrains and TIHCL endeavors to directly confront these issues, empowering MSMEs to overcome challenges and propel themselves towards sustainable growth.
During the introduction note, nicheBrains CEO Lakshmi Moorthy stated, "As a platform, nicheBrains is committed to accelerating the growth and transformation of MSMEs by providing them with essential access to expertise. This partnership with TIHCL mutually benefits both organizations and propels Telangana MSMEs forward." Addressing the gathering, Mr. Mahankali Srinivas Rao, CEO T-Hub, expressed his delight by saying, "I'm pleased to witness the synergies between nicheBrains' digital transformation capabilities and the work done by TIHCL in supporting distressed MSMEs. It is truly a great collaboration."
Yerram Raju, Director, TIHCL remarked, "TIHCL was established to handle the challenges faced by sick and stressed industries, which was an innovative concept. Thanks to KTR garu, it materialized swiftly. The partnership between nicheBrains and TIHCL aims to relieve the stress of MSMEs, as without relief, they cannot grow." Mr. Venkateswarlu, MD, TIHCL, expressed his views by stating, "Leveraging nicheBrains' expertise and TIHCL's network, we aim not only to revive but also to upscale the MSMEs in Telangana."
Under this Memorandum of Understanding (MOU), nicheBrains and TIHCL will provide the following support to manufacturing MSMEs:
Access to Credit:
TIHCL, with its financial services expertise, will extend credit facilities to distressed MSMEs, helping them overcome financial challenges and secure necessary funding for their operations and growth.
Expert Guidance and Support:
nicheBrains, with its global network of industry experts, will collaborate with MSMEs to identify areas for improvement and provide tailored guidance and support to enhance their business performance. Experts from nicheBrains will work closely with MSMEs, offering strategic advice in areas such as business strategy, marketing, operations, and supply chain management.
Solution Implementation:
Together, nicheBrains and TIHCL will assist MSMEs in finding suitable solutions and solution providers to address their specific challenges. By leveraging nicheBrains' expertise and TIHCL's network, MSMEs will gain access to a comprehensive range of solutions that can drive their business growth and transformation.
Visible Growth and ROI:
Through short-burst projects facilitated by nicheBrains experts, MSMEs will experience visible growth and a return on investment. This ensures that the implemented solutions position their businesses strongly and lead to sustainable success.
This partnership represents a significant stride towards fostering the growth and success of manufacturing MSMEs in Telangana. By providing them with necessary credit, expertise, and solution implementation support, nicheBrains and TIHCL are steadfast in their commitment to empowering MSMEs and propelling them towards a brighter future. We would like to express our sincere gratitude to the Telangana State Government for its invaluable support and unwavering commitment to initiatives that empower Micro, Small, and Medium Enterprises (MSMEs) within the state. We truly appreciate the pivotal role played by the government in enabling and facilitating our efforts towards MSME empowerment.
MEDIA COVERAGE
ZEE5: https://www.zee5.com/articles/nichebrains-and-tihcl-join-forces-to-empower-manufacturing-msmes
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Atharva Rampalli
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