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ASPIRE Scheme

A Scheme for Promotion of Innovation, Rural Industries and Entrepreneurship (ASPIRE) was launched by the Ministry of Micro, Small & Medium Enterprises, Government of India. 

ASPIRE

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). For further information about the scheme details, visit the ASPIRE website. 

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

Implement the incubation and commercialisation 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. It provides funds for the incubator/incubation and creates 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.

Application

The 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.

Source: Startup India & ASPIRE



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