Tide’s MSME Exchange Program: Boosting Global Entrepreneurship
Financial enterprise platform Tide has established an MSME Exchange Program (MEP), designed to boost global exports and entrepreneurship by building relationships between small and medium-sized enterprises (MSMEs) in the UK and India.
Tide’s MEP initiative comes amid an expansion of its operations in India after it committed to supporting 500,000 small, women-led businesses by 2027, investing a total of £100m in them.
Building an exchange program
According to the MEP, two entrepreneurs from India and the UK will be selected by Tide every quarter, and sponsored to visit the corresponding nation to build business relationships.
A total of eight businesses from each country will participate in the program, which begins on June 1, 2023 and ends on May 30, 2024. Tide says the MEP will focus on knowledge exchange in regulatory compliance, legal frameworks, entrepreneurship, products and networking.
Tide CEO Dr Oliver Prill says: “Through the MSME Exchange programme, Tide is taking a big step in championing small businesses and fostering ties between small business owners in the UK and India. We recognize that they have shared ambitions, including exporting their goods. and services between the two countries, which share historical ties.”
MEPs point to wider cooperation between the UK and India
The launch of the Tides MEP points to a wider trend for collaboration between both India and the UK. Recently, the two nations held their first Financial Markets Dialogue, where they welcomed the need to collaborate on fintech, data and regulation.
Speaking at the launch of Tides MEP, British High Commissioner to India Alex Ellis said: “Prime Minister Sunak and Prime Minister Modi have reiterated the enormous opportunities that closer trade and investment ties bring to British and Indian businesses and consumers.
“Our investment relationship already supports almost half a million jobs in each other’s economies. Creating direct links between growing businesses from both countries will take us further. I congratulate Tide on adding to the India-UK success story.”
Tide India CEO Gurjodhpal Singh concludes, “MSMEs are the backbone of India’s economic aspirations. Tide India is keen to act as an active enabler of small businesses and unleash the true potential of MSMEs.
“We are grateful to the British High Commission and the Government of India for supporting us in this mission. We look forward to supporting the small businesses that will take part in what is a significant initiative by Tide.”
