A Scheme for Promotion of Innovation, Rural Industry and Entrepreneurship (ASPIRE)
ASPIRE has been launched on March 16, .2015 with an objective to set up a network of technology centers, incubation centres to accelerate entrepreneurship and also to promote start-ups for innovation and entrepreneurship in rural and agriculture based industry with a fund of Rs.210 crores.
The planned outcomes of ASPIRE are setting up Technology Business Incubators (TBI), Livelihood Business Incubators (LBI) and creation of a Fund of Funds for such initiatives with SIDBI. 1st TBI set up in April-2015 under ASPIRE within a month of launching the Scheme. The first batch of 107 youth has been trained and skilled through it.  19 TBIs have been approved till September 2015 and another 9 LBIs & 2 TBI is ready to be approved.

ASPIRE Scheme or Scheme for Promotion of Innovation, Entrepreneurship and Agro-Industry is promoted by the Ministry of Micro, Small and Medium Enterprises. In the 2014-15 Budget, the Hon’ble Finance Minister announced that “To establish Technology Centre Network to promote Innovation, Entrepreneurship and Agro-Industry, I propose to set up a fund with a corpus of Rs.200 crore.” and ”A nationwide “District level Incubation and Accelerator Programme” would be taken up for incubation of new ideas and providing necessary support for accelerating entrepreneurship.”. The ASPIRE Scheme is a result of that announcement aimed at Promoting Innovation, Entrepreneurship and Agro-Industry.

The main objectives of the ASPIRE scheme are:

- 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.

Wednesday, 06th Apr 2016, 09:10:21 AM

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