Panel of senior citizens to be formed to provide mentorship to entrepreneurs, says Kerala CM V.D. Satheesan
Kerala Chief Minister V.D. Satheesan announced a new mentorship program pairing senior citizen experts with young entrepreneurs to support startup growth. The government also increased the loan limit for MSMEs to ₹5 crore and raised the age limit for chief entrepreneurs to 60.
Why it matters
This initiative aims to bridge the generational knowledge gap and stimulate the state's economy by leveraging the experience of retirees to mentor new business owners.
A panel of senior citizens who are experts in various fields will be formed to provide managerial and technical mentorship to startu-ps, Chief Minister V.D. Satheesan has said. He was speaking here on Thursday (August 6) after launching the third edition of the Chief Minister's Entrepreneurship Development Programme (CMEDP) of the Kerala Financial Corporation (KFC) to provide loans to Micro, Small and Medium Sector enterprises (MSMEs).
“At times, entrepreneurs might have technical know-how, but will be lacking in management and marketing skills. The government is going to provide management and technical mentors, from a panel of senior citizens who are experts in various fields that we are going to form. Through this, integration of the young and the old will also happen and we can use their wealth of experience to help the youngsters to achieve growth in thejr businesses," said Mr. Satheesan.
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