images

20 May 2023

A Scheme for promoting Innovation, Rural Industry & Entrepreneurship (ASPIRE)

Objectives

1) Creation of new jobs and reducing unemployment


2) Grassroots economic development at the district level


3) Promoting entrepreneurship culture in India


4) Facilitating innovative business solutions for meeting the social needs of the people


5) Promoting innovation for further strengthening the competitiveness in the MSME sector

Eligibility


1) Any entrepreneur who intends to set up start-ups.


2) Any technical/university/research institutes including those in the field of rural and agro-based industry.


3) All MSMEs with Entrepreneurs Memorandum Registration.


4) Any institute/agency under the Government of India or any State Government in the field of technology, business management, rural development and entrepreneur development or any body corporate under Public-Private Partnership (PPP) mode can set up Livelihood Business Incubation (LBI).


5) Any existing incubation centres operating under different Ministries and Departments of Government of India and institutions which include National/Regional level institutions of Government of India or any State Government for setting up centres dedicated to incubation and enterprise creation in the area of agro-based industries.


6) Any new incubation centres to be set up by eligible private institutions including industry associations along with academic institutions, universities, government entities, R&D laboratories and technology parks.

Nature of Assistance under ASPIRE

The nature of assistance provided under ASPIRE are-

  • For the LBI which is to be set up by – National Small Industries Corporation (NSIC) or – Coir Board or – Khadi and Village Industries Commission (KVIC) or – Any other institution or agency of the Government of India/ State Government on its own or by any agency

A one time grant of 100% of the cost of Plant and Machinery other than infrastructure and land or an amount of up to Rs.100 lakh, whichever is less is provided.

  • For setting up of incubation centres under PPP mode with – National Small Industries Corporation (NSIC) or – Coir Board or – Khadi and Village Industries Commission (KVIC) or – Any other institution or agency of the Government of India/ State Government on its own or by any agency

A one time grant of 50% of the cost of Plant and Machinery other than infrastructure and land or an amount of up to Rs.50 lakh, whichever is less is provided.

  • For supporting existing incubation centres under TBI by various Ministries or Departments or Government funded institutions such as – Department of Science & Technology – Department of Biotechnology – The International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) – The Indian Council of Agricultural Research (ICAR)

A one time grant of 50% of Plant and Machinery other than infrastructure and land or an amount of up to Rs.30 lakh, whichever is less is provided to set up centres dedicated to enterprise creation and incubation in the area of Agro-based Industry.

  • For setting up of new incubation centres under TBI by eligible agencies dedicated to enterprise creation and incubation in the area of Agro-based Industry, a one time grant of 50% of Plant and Machinery other than infrastructure and land or an amount of up to Rs.100 lakh, whichever is less is provided.