Ministry of Micro,Small &Medium Enterprises,Govt of India has come up with a Scheme for Promotion of Innovation, Rural Industry & Entrepreneurship to provide funding to new Entrepreneurs.
- Create new jobs and reduce employment.
- Promote entrepreneurship culture in India.
- Grassroots economic development at district level.
- Facilitate innovative business solution for unmet social needs.
- Promote innovation to further strengthen the competitiveness of MSME sector.
- Any individual, above 18 years of age as an incubate can be skilled.
- Any entrepreneur who wants to set up start-ups.
- Any technical/research institutes/universities including those in the field of rural and agro based industry.
- Any institution or agency under the Government of India or any State Govt. in the field of technology, rural development and entrepreneur development, business management or any body corporate under PPP mode can set up LBI (Livelihood Business Incubators)
- Any existing incubation centres operating currently under different Ministries and departments of the Govt. of India or institutions including National/regional level institutions of GOI/state Govts.
- Institutions registered under Socities Registeration Act, 1860.
- Production Co-operative Societies and Charitable Trusts.
- Existing Incubators and the incubators that have already availed Govt. Subsidy under any other scheme of Govt. of India or State Govt. for the same set of activities under Incubation are not eligible.
For Livelihood Business Incubators by NSIC,KVIC,Coir Board or any other Institution or any other Institution or Agency of Govt. of India/State
- Setting up LBI’s (Rs 100 lakh for NSIC and Rs 50 lakh for eligible agencies under ppp) for plant & machinery only.
For Technology Business Incubators
- For Incubation center,support for Existing Incubators(Rs 30 lakh for incubator capex) and setting up of New Incubator(Rs 100 lakh for incubator capex)
- Incubation of Ideas(Rs 3 lakh per idea)
- Creation of Enterprise out of innovative idea(Seed Capital fund@ INR 1.00 cr. per incubator for enterprise creation@ 50% of project cost or 20 lakh per successful idea whichever is less)
- Accelerator workshop
How to apply:
Proposal in the prescribed Performa along with necessary enclosures and endorsement from the Head of the existing incubator or from the Head of the Institution interested in setting up of new incubator may be sent to the following addresses:-
The Member Convener,
Scheme Steering Committee, ASPIRE,
O/o The Joint Secretary (ARI) Division,
Room No.171 Udyog Bhawan,
Email: [email protected]
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