To set up a network of technology centres, incubation centres to accelerate entrepreneurship and also to promote start-ups for innovation and entrepreneurship in agro-industry, Union Minister for Micro, Small and Medium Enterprises (MSME), Kalraj Mishra launched a scheme for promoting Innovation, Entrepreneurship and agro industry on wednesday in New Delhi.
The scheme is a step in the direction of the Finance Minister’s budget speech for 2014-15, where establishing Technology Centre Network to promote Innovation, Entrepreneurship and Agro Industry with a fund of Rs.200 crore was envisaged.
With a clarity on factors such as innovation and entrepreneurship, Along with the announcement of setting up of 500 new incubation centres all over India by next year, he further proposed a programme to facilitate forward and backward linkages with multiple chain of manufacturing and service delivery and also to take up a nationwide “District level Incubation and Accelerator Programme” for incubation of new ideas and providing necessary help for accelerating entrepreneurship.
The various components of the program of the scheme are:
To create a database of technologies available with various Government / private agencies and set up a Network of Technology Centres for handholding of prospective entrepreneurs of MSME sector.
To develop the required skilled Human Resources necessary for mentoring and handholding the incubatees in the Incubation centres. This would require special efforts to identify, support and expand the role of competitive Indian MSMEs in a global economy.
To provide mentoring support to MSME’s through NSIC/ other Agencies of Ministry of MSME.
Capacity Building viz., awards, surveys, studies, exposure visits, engagement of consultants including Monitoring and Evaluation etc. would be conducted with an estimated expenditure of INR 17.75 Crore.
To set up Livelihood Business Incubators (LBI), replicating the NSIC model of successful “Rapid Incubation Model” (a mix of promotion of entrepreneurship and skill development), under National Small Industries Corporation (NSIC), KVIC or Coir Board or any other Institution/agency of GOI/State Govt.
Private partner institutions and entities can also set up livelihood incubation centres under PPP mode with the aforesaid institutions, namely: NSIC, KVIC or Coir Board or any other Institution/agency of GOI/State Govt. The total allocated budget proposed under this head is INR 62.50 crore for setting up 80 LBIs adequately skilling a targeted 104000 number of youth over a period of 3 years.
To set up Technology Business Incubators (TBI) at twin levels, i.e. supporting existing incubation centres operated currently under different Ministries and Departments of the Government of India.
Institutions including National / Regional level institutions of GOI / State Governments to set up centre dedicated to incubation and enterprise creation in the area of Agro based Industries.
New incubation centres to be set up by eligible private institutions including Industry Associations, along with the Academic Institutions, R&D laboratories, Universities, Government entities and Technology Parks.
Region wise, Crop wise, Product wise, Process wise and Industry Vertical wise Incubation Centres will be promoted.
The Accelerator workshop programme would also facilitate the process of entrepreneur creation and scaling up the existing talent pool. The total allocated budget proposed under this head is INR 61.50 Crore for setting up 30 TBIs.
To create a framework for Start-up Promotion through Small Industries Development Bank of India (SIDBI) by using innovative means of finance like Equity, Quasi-Equity, Angel fund, Venture capital fund, Impact funds, Challenge funds etc.
To encourage ideas/innovation with creativity and scalability, convert these into commercial enterprises with specific outcomes and within a specific time period.
A fund of Funds will be created under SIDBI for the purpose and INR 60 Cr allocated for the same.