A joint venture between Punjab Information & Communication Technology Corporation Limited (PICT) and MZI, SME Business Services Limited has been set up to empower more than 200,000 small and medium entrepreneurs in Punjab by providing them access to scores of world markets. The JV will serve as an effective catalyst and facilitator in closing deals with international buyers by providing a world-class marketing support platform to SMEs.

SME Growth
The JV has set forth well-defined targets that will double the share of SMEs in Punjab's economy in the next five years. The venture will scale up the share of SMEs by 12% to 15% every year to reach our five-year goal. The growth enabler will be a web/IT powered marketing engine with value-added services designed to grow businesses of SMEs in the global market. The JV will enable end-to-end B2B electronic transactions using the best-of-breed global technology platform.

The JV will overcome the stumbling blocks to growth of SMEs, by adopting the following agenda:

• Educate and prepare SMEs on international challenges and opportunities.
• Arrange awareness programs on the new and emerging markets and current trends.Create quality consciousness among SMEs.
• Provide consultancy to SMEs for technology upgradation and quality.
• Prepare the entrepreneurs and businesses to face the global digital network economy by changing their mindset.

The JV will leverage information technology to provide a world-class marketing support platform to enable SMEs to reach a worldwide audience, and catalogue products on international search engines. By publishing the products and services of SMEs in various international trade directories, it will surmount the language barriers to trade. The JV will serve as an effective catalyst and facilitator in closing deals with international buyers.

The JV's broad charter is as follows:

• The Punjab Government holds a 49% stake and MZI has 51% equity in the JV.
• Use the expertise of MZI to put the industry of Punjab, particularly SMEs, on Global Business Exchanges.
• Use technology and management to ramp up SMEs to a level that will enable them to compete in global markets.
• Build an industrial portal as a medium of exchange of Information and Interaction between Industry-Industry (Exchange) and Industry-State.
• Set up Robust Revenue Models for SMEs.
• Future Platform for infrastructure projects in the Public Private Partnership Sector.
• Plan to raise medium and long term funds from interested players like Intel Capital, Cisco and Microsoft.

SME NRI Window
While helping Punjab-based SMEs, the venture provides golden opportunities for NRIs to participate in the development of industries in the state by pumping in investments and introducing the latest technologies. The NRIs can use the inherent entrepreneurial skills of Punjab businessmen, and, in turn, benefit from competitive products and services from the state. There are immense possibilities for outsourcing of assembling and manufacturing jobs from Punjab. NRIs can act as the interface between global customers and state businessmen.

On the technology front, NRIs can facilitate technical cooperation from international players. NRIs themselves can invest in R&D and secure IPRs for hi-tech products. They can participate in the Technology Bank being set up by the JV.

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