Startups

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

Aspire has been launched by the Indian government with an objective to set up a network of technology centres, incubation centres to accelerate entrepreneurship and also to promote startups for innovation and entrepreneurship in rural and agriculture-based industry. It also includes the setting up of Technology Business Incubators (TBIs).

Eligibility: All MSMEs with an Entrepreneurs Memorandum (EM) registration.

Funding Grant: Livelihood business incubators 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.

Time Period: Period of incubation to be 12 months to 24 months.

Area: Agricultural Sciences, Life Sciences & Biotechnology, Medical Sciences

Ministry/Dept: Ministry of Micro, Small and Medium Enterprises (MSME), Govt of India

Purpose: Capacity Building, Innovations