India’s ASPIRE scheme is helping transform rural livelihoods by supporting aspiring entrepreneurs with training, incubation and business development assistance.
About ASPIRE Scheme:
ASPIRE (A Scheme for Promotion of Innovation, Rural Industries and Entrepreneurship) scheme was launched in 2015.
It promotes entrepreneurship and employment generation, particularly in rural and agro-based sectors.
It provides financial, technical and mentoring support to entrepreneurs through incubation centres and cluster-based development.
Nodal Ministry: Ministry of Micro, Small & Medium Enterprises
ASPIRE Scheme Features:
It promotes rural entrepreneurship and innovation through incubation support.
It focuses on establishing Livelihood Business Incubators (LBIs) in rural and underserved areas.
It encourages the development of agro-based and rural enterprises with high employment potential.
It supports Technology Business Incubators (TBIs) to promote innovation and technology-driven start-ups.
It provides financial assistance for setting up incubators through capital grants.
It offers seed capital and risk funding support for early-stage innovators and start-ups.
Eligibility for ASPIRE Scheme:
It is open to Government institutions, Public Sector Undertakings (PSUs), and private or PPP organizations for establishing incubators.
It is available to MSMEs with valid Entrepreneurs Memorandum (EM) registration.
It supports individual innovators and entrepreneurs through incubation and mentoring services.
It gives priority to start-ups working in agro-based, rural, and technology-driven sectors.
It requires institutions to have adequate infrastructure and technical capability for incubation activities.
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