Aspire (Scheme for promotion of Innovation, Entrepreneurship and Agro- Industry)


 Description

The main objectives of the scheme are to:

  • Create new jobs and reduce unemployment
  • Promote entrepreneurship culture in India
  • Grassroots economic development at district level
  • Facilitate innovative business solution for un-met social needs, and
  • Promote innovation to further strengthen the competitiveness of MSME sector.

 Nature of assistance

80 Livelihood business incubators (2014-2016) to be set up by NSIC, KVIC or Coir Board or any other Institution/agency of GoI/State Govt. on its own or by any of the agency/Scheme for promotion of Innovation, Entrepreneurship and Agro-Industry organisation of the M/o MSME, one-time grant of 100% of cost of Plant & Machinery other than the land and infrastructure or an amount up to Rs.100 lakhs whichever is less to be provided

In case of incubation centres to be set up under PPP mode with NSIC, KVIC or Coir Board or any other Institution/agency of GoI/State Govt., one- time grant of 50% of cost of Plant & Machinery other than the land and infrastructure or Rs.50.00 lakhs, whichever is less to be provided.

Assistance towards the training cost of incubates will be met out of the ATI scheme of the Ministry as far as possible for both centres.

Total budget plan is Rs.62.50 crore for 2014-2016.

 Who can apply

Implement the IncubationandCommercialisation of Business Ideas Programme through technical/research institutes including those in the field of agro based industry. These would be designated as Knowledge Partners and would incubate new/existing technologies for their commercialisation. To provide funds for the incubator/incubation and create necessary synergy between this scheme and the Livelihood Business Incubators/Technology Business Incubators and Incubation schemes of MSME/NSIC/KVIC/Coir Board/ Other Ministries/Departments as well as Private incubators.

 How to apply

Application can be sent to Aspire Scheme Steering Committee of Ministry of MSME. Scheme Steering Committee will be responsible for overall policy, coordination, and management support. The Council will be chaired by Secretary, Ministry of MSME.