A Scheme for Promotion of Innovation, Rural Industries and Entrepreneurship (ASPIRE) aids to set up a network of technology centres and to set up incubation centres to accelerate entrepreneurship and also to promote startups for innovation in agro-industry. ASPIRE provides financial support to set up Livelihood Business Incubators (LBI) or Technology Business Incubator (TBI).
Objectives
The main objectives of the scheme are to:
- Create new jobs and reduce unemployment
- Promote entrepreneurship culture in India
- Grassroots economic development at the district level
- Facilitate innovative business solution for unmet social needs
- Promote innovation to further strengthen the competitiveness of MSME sector
Eligibility
- Establish a program to foster the development and commercialization of business ideas, particularly focusing on technical and research institutes, including those specializing in the agro-based industry. These institutes will be recognized as knowledge partners and will support the incubation of new or existing technologies to bring them to market.
- Allocate funds specifically for the incubation process and ensure that there is alignment between this program and initiatives aimed at enhancing livelihoods.
- Engage various entities such as Incubators, Technology Business Incubators, and Incubation Schemes from organizations like MSME, NSIC, KVIC, Coir Board, and other relevant Ministries or Departments, as well as private sector incubators.
- Facilitate collaboration and synergy among these stakeholders to maximize the impact of the incubation and commercialization efforts.
Application
- Applications should be directed to the ASPIRE Scheme Steering Committee under the Ministry of Micro, Small, and Medium Enterprises (MSME).
- The Scheme Steering Committee will oversee the formulation of policies, coordinate activities, and provide management support for the ASPIRE Scheme.
Read Also: The Centre for Development of Telematics (C-DOT)
