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ASPIRE Scheme to Promote Innovation in Rural Industry

ASPIRE scheme was launched to set up a network of technology and centres to set up incubators to accelerate entrepreneurship and also to promote startups for innovation in the agro-industry.

Significance of the scheme

Despite introducing many schemes, taking innovative initiatives, and taking much-needed measures, problems like poverty and unemployment were still there. To curb this, it was important to come up with an initial level
approach like generating employment and setting up small enterprises inthe agriculture industry. The ASPIRE scheme has been granted Rs. 200 crore corpus by the ministry of Finance.

Objectives of the scheme
  1. To provide employment
  2. To develop entrepreneurship culture in India
  3. Economic development at district level
  4. Facilitating innovative ideas
  5. It strengthens the competitiveness of the MSME sector through innovative ideas.
Benefits of the Scheme

1. It helps to curb unemployment and poverty.
2. There should be enough job providers in India for all the job seekers.
3. Facilitates innovative business Ideas.
4. Provides training for the youth of skill development for entrepreneurship to set their own business.
5. Helps to promote economic development at district level.
6. It boosts agricultural produce by automating agricultural activities.
7. The monetary aid provided by the government under ASPIRE Yojana can be utilized for plants and machinery items.
8. Recycling of agricultural harvest waste, both pre and post-harvest.
9. Assist for networking of business resources and provides credit facilitation.
10. Practical experience for the budding entrepreneurs for business promotion.

Eligibility

All the startups with traditional enterprises are eligible for the ASPIRE scheme.

How to apply?

1. Application can be sent to the Aspire Scheme Steering Committee of the Ministry of MSME.
2. The Scheme Steering Committee will be responsible for overall policy, coordination, and management support. The Council will be chaired by the Secretary, Ministry of MSME.

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