In 2015, the Indian government launched the ASPIRE Scheme (A Scheme for Promotion of Innovation, Rural Industries, and Entrepreneurship) under the Ministry of Micro, Small & Medium Enterprises (MSMEs). This initiative aims to stimulate creativity and entrepreneurship in rural areas, boosting the local economy and generating jobs. Here, we explore the ASPIRE Scheme and its significance.
What is the ASPIRE Scheme?
Despite India’s dependence on agriculture, poverty and unemployment remain significant issues. To address these challenges, the government introduced the ASPIRE Scheme, focusing on enterprise development and job creation in the agricultural sector.
ASPIRE Scheme Details
- Name of Scheme: ASPIRE Scheme
- Launched By: Indian government
- Launched In: 2015
- Department: Ministry of Micro, Small and Medium Enterprises, Government of India
- Objective: To develop enterprises and jobs in the agriculture industry
- Mode: Online
- Official Website: aspire.msme.gov.in
Objectives of the ASPIRE Scheme
The ASPIRE Scheme aims to establish a network of technology and incubation centres across India, with the main goal of promoting entrepreneurship. The objectives include:
- Reducing unemployment and generating new jobs
- Fostering a culture of entrepreneurship in India
- Promoting grassroots economic development at the district level
- Encouraging innovative business solutions to meet societal needs
- Enhancing the competitiveness of the MSME sector through innovation
Features of the ASPIRE Scheme
Key features of the ASPIRE Scheme include:
- Supporting entrepreneurship and startups in the agro-industry by creating a network of technology and incubation centres.
- Inspired by the Finance Minister’s 2014–15 budget address, the scheme was launched with a Rs. 200 crore budget to support innovation and entrepreneurship.
- Creating forward and backward linkages with various supply chains for goods and services and starting a nationwide “District level Incubation and Accelerator Programme.”
- Providing entrepreneurs with the necessary skills, market connections, and support to achieve self-sustainability.
Benefits of the ASPIRE Scheme
The ASPIRE Scheme offers several benefits, such as:
- Automating agricultural practices and processes
- Increasing the value of forestry and agricultural products
- Recycling agricultural waste and promoting animal husbandry activities
- Developing business models for aggregation and value addition in rural areas
- Supporting social impact business concepts and creating local jobs in remote areas
Support Types Offered by ASPIRE
The ASPIRE Scheme provides various types of support, including:
- Technology Business Incubators (TBIs): Supporting high-growth potential, innovative companies in the agro-industry sector.
- Livelihood Business Incubators (LBIs): Assisting aspiring business owners in fields relevant to rural communities.
Financial Support
- Funds for establishing TBIs and LBIs
- Assistance with infrastructure, equipment purchases, and training costs
Skill Development Programs
- Training in marketing, finance, business administration, and technology adoption
Market Links
- Connecting business owners with potential customers, financiers, and suppliers
Networking Opportunities
- Facilitating interactions among business owners to share insights and experiences
Eligibility Criteria for ASPIRE Scheme
To apply for the ASPIRE Scheme, applicants must meet the following criteria:
- Anyone above the age of 18 can receive training as an incubatee.
- Businesspersons looking to launch a venture.
- Universities or technical/research centres, especially those focused on rural and agricultural industries.
- Organizations registered under the Societies Registration Act of 1860, such as Co-operative Societies and Charitable Trusts.
- Institutions or agencies of the Indian or state governments involved in technology, entrepreneurship development, rural development, or business management.
- Private businesses using the PPP model to create LBIs.
- Existing incubation centres run by various organizations, including state governments, national/regional level GOI institutions, or ministries and departments of the Government of India.
Application Process for ASPIRE Scheme
To apply for the ASPIRE Scheme, applicants must submit an application to the Ministry of MSME’s ASPIRE Scheme Steering Committee, which oversees the scheme’s overall policy, coordination, and management. Applicants must meet the eligibility criteria and provide supporting documents for their proposed project or existing business. Registration for the program can be done through the official website.
The ASPIRE Scheme marks a significant effort towards promoting innovation and entrepreneurship in rural India. By supporting startups and businesses in the agro-industry, the scheme aims to foster sustainable economic growth and job opportunities, addressing the persistent issues of poverty and unemployment in the country.
ASPIRE Scheme FAQs:
What is the ASPIRE Scheme?
The ASPIRE Scheme (A Scheme for Promotion of Innovation, Rural Industries, and Entrepreneurship) is an initiative launched by the Indian government in 2015 under the Ministry of Micro, Small & Medium Enterprises (MSMEs) to foster creativity and entrepreneurship in rural areas, enhancing the local economy and creating jobs.
What are the main objectives of the ASPIRE Scheme?
The primary objectives of the ASPIRE Scheme are to: Reduce unemployment and generate new jobs Foster a culture of entrepreneurship in India Promote grassroots economic development at the district level Encourage innovative business solutions to meet societal needs Enhance the competitiveness of the MSME sector through innovation
When was the ASPIRE Scheme launched and by whom?
The ASPIRE Scheme was launched in 2015 by the Indian government under the Ministry of Micro, Small and Medium Enterprises.
What kind of support does the ASPIRE Scheme provide?
The ASPIRE Scheme provides support through: Technology Business Incubators (TBIs) for high-growth potential, innovative companies in the agro-industry sector Livelihood Business Incubators (LBIs) for aspiring business owners in fields relevant to rural communities Financial support for establishing TBIs and LBIs, including infrastructure, equipment purchases, and training costs Skill development programs in marketing, finance, business administration, and technology adoption Market links connecting business owners with potential customers, financiers, and suppliers Networking opportunities to facilitate interactions among business owners
Who is eligible to apply for the ASPIRE Scheme?
Eligible applicants include: Individuals above the age of 18 seeking training as incubatees Businesspersons looking to launch ventures Universities or technical/research centres, especially those focused on rural and agricultural industries Organizations registered under the Societies Registration Act of 1860, such as Co-operative Societies and Charitable Trusts Institutions or agencies of the Indian or state governments involved in technology, entrepreneurship development, rural development, or business management Private businesses using the PPP model to create LBIs Existing incubation centres run by various organizations, including state governments, national/regional level GOI institutions, or ministries and departments of the Government of India
How does the ASPIRE Scheme benefit the agriculture industry?
The ASPIRE Scheme benefits the agriculture industry by: Automating agricultural practices and processes Increasing the value of forestry and agricultural products Recycling agricultural waste and promoting animal husbandry activities Developing business models for aggregation and value addition in rural areas Supporting social impact business concepts and creating local jobs in remote areas
What is the budget allocated for the ASPIRE Scheme?
The ASPIRE Scheme was launched with a budget of Rs. 200 crore, as inspired by the Finance Minister’s budget address for 2014–15, to support innovation and entrepreneurship.
What are the features of the ASPIRE Scheme?
Key features of the ASPIRE Scheme include: Supporting entrepreneurship and startups in the agro-industry by creating a network of technology centres and incubation centres Establishing forward and backward linkages with various supply chains for goods and services Launching a nationwide “District level Incubation and Accelerator Programme” Providing necessary skills, market connections, and support to entrepreneurs for achieving self-sustainability
How can one apply for the ASPIRE Scheme?
To apply for the ASPIRE Scheme, applicants must submit an application to the Ministry of MSME’s ASPIRE Scheme Steering Committee. Applicants must meet the eligibility criteria and provide supporting documents for their proposed project or existing business. Registration can be done through the official website, aspire.msme.gov.in.
What impact does the ASPIRE Scheme aim to achieve?
The ASPIRE Scheme aims to promote innovation and entrepreneurship in rural India by supporting startups and businesses in the agro-industry. This effort is intended to foster sustainable economic growth and job opportunities, addressing the persistent issues of poverty and unemployment in the country.
