{"id":43885,"date":"2022-05-30T11:27:24","date_gmt":"2022-05-30T05:57:24","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=43885"},"modified":"2022-05-30T11:36:52","modified_gmt":"2022-05-30T06:06:52","slug":"aspire-scheme","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/aspire-scheme\/","title":{"rendered":"ASPIRE Scheme: Everything You Need to Know"},"content":{"rendered":"\n<p class=\"has-drop-cap\">ASPIRE\nis an abbreviation for the A Scheme for Promotion of Innovation, Rural\nIndustries and Entrepreneurship. GOI has launched this scheme in association\nwith the Ministry of Micro, Small and Medium Enterprises (MSME). It came to\neffect to establish a network of technology centers and incubation centers for\nimproving entrepreneurship pan India. It seeks to advocate start-ups operating\nin the agro sector.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/aspire-scheme\/#Reasons_for_introducing_ASPIRE_Scheme\" >Reasons for introducing ASPIRE\nScheme<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/aspire-scheme\/#ASPIRE_Scheme_Underlying_Objectives\" >ASPIRE Scheme: Underlying\nObjectives<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/aspire-scheme\/#Scope_of_ASPIRE_Scheme\" >Scope of ASPIRE Scheme<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/aspire-scheme\/#Eligibility_criteria_for_accessing_the_benefits_of_ASPIRE_Scheme\" >Eligibility criteria for\naccessing the benefits of ASPIRE Scheme<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/corpbiz.io\/learning\/aspire-scheme\/#Components_of_ASPIRE_Scheme\" >Components of ASPIRE Scheme<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/corpbiz.io\/learning\/aspire-scheme\/#What_is_the_type_of_assistance_provided_under_the_ASPIRE_scheme\" >What is the type of assistance\nprovided under the ASPIRE scheme?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/corpbiz.io\/learning\/aspire-scheme\/#Funding_Pattern_Of_ASPIRE_Scheme\" >Funding Pattern Of ASPIRE\nScheme<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/corpbiz.io\/learning\/aspire-scheme\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Reasons_for_introducing_ASPIRE_Scheme\"><\/span>Reasons for introducing ASPIRE\nScheme <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In\nIndia, the majority of the populace is dependent on the agriculture sector even\nto this day. The GOI has launched various schemes with innovative initiatives,\nyet unemployment and poverty prevail nationwide. To counter these severe\nproblems, the GOI introduced the ASPIRE scheme to create job opportunities and\nestablish entities in the agriculture sector.<\/p>\n\n\n\n<ul><li>ASPIRE came to effect in 2015 to provide\nknowledge to aspiring entrepreneurs for commencing their businesses and\ncreating jobs.<\/li><li>ASPIRE aims to create new employment\nopportunities and advocate start-up entities for innovation in rural regions\nand conventional agro-industries.<\/li><li>ASPIRE envisages rendering the necessary skill\nset required to establish an enterprise and aid during their critical period to\nensure self-sustainability.<\/li><li>This scheme ensures the availability of required\nmarket linkages to entrepreneurs. It was released under the &#8216;Make in India&#8217;\ninitiative, which specifies and underpins a viable ecosystem for advocating\nstart-ups and driving the production facilities and sustained job\nopportunities.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"ASPIRE_Scheme_Underlying_Objectives\"><\/span>ASPIRE Scheme: Underlying\nObjectives<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>New jobs creation and undermining unemployment<\/li><li>Economic development from the Grassroots level<\/li><li>Advocating the culture of entrepreneurship<\/li><li>Ensuring the availability of unique business solutions for catering to the social needs of the people.<\/li><li>Promoting innovation for improving the <a href=\"https:\/\/corpbiz.io\/msme-registration\"><strong>MSME<\/strong><\/a> sector&#8217;s competitiveness<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Scope_of_ASPIRE_Scheme\"><\/span>Scope of ASPIRE Scheme<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong><em>The\nassistance provided under ASPIRE is utilized for the given purposes;<\/em><\/strong><\/p>\n\n\n\n<ul><li>Embedding automation into the agricultural\npractices<\/li><li>Inclusion of value for forest and agri produce<\/li><li>Recycling of wastages coming from agricultural\npre\/post-harvest,<\/li><li>Revival of animal husbandry, off-farm but\nassociated with farm-related undertakings, etc.<\/li><li>Business models for value addition<\/li><li>Aggregation is relevant for social impact for\nrural areas and the creation of employment in the rural area<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Eligibility_criteria_for_accessing_the_benefits_of_ASPIRE_Scheme\"><\/span>Eligibility criteria for\naccessing the benefits of ASPIRE Scheme<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong><em>The\nfollowings are the eligible for accessing the benefits under ASPIRE-<\/em><\/strong><\/p>\n\n\n\n<ul><li>Any entrepreneur who wants to establish start-up;<\/li><li>Any research institutes\/universities including those functioning in the rural and agro-based sector<\/li><li>Entrepreneurs Memorandum Registration holders<\/li><li>Any government institute\/agency or any State Government in the field of business management, business management, entrepreneur development and rural development<strong> <\/strong>or anybody corporate under PPP, i.e. Public-Private Partnership mode, can establish LBI, i.e. Livelihood Business Incubation.<\/li><li>Any prevailing incubation centres functioning under different government departments and institutions, which include Regional\/National level institutions of GOI or any State government for establishing incubation centres in the region of agro-based industries.<\/li><li>Any new incubation facility to be established by eligible private entities, including industry associations, universities, academic institutions, R&amp;D laboratories, and technology parks.<\/li><li>The application for ASPIRE scheme is to be filed with the Aspire Scheme Steering Committee. Steering Committee is liable for overall policy, coordination, and management support.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Components_of_ASPIRE_Scheme\"><\/span>Components of ASPIRE Scheme<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The\ncomponents of this scheme are-<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Livelihood Business Incubation\n(LBI)<\/h3>\n\n\n\n<p>The\nprimary objective of LBI is to establish business incubators to;<\/p>\n\n\n\n<ul><li>Facilitate\nskill development training for young entrepreneurs<\/li><li>Impart\nentrepreneurship<\/li><li>Facilitate funding to entrepreneurs for business\nestablishment<\/li><\/ul>\n\n\n\n<p>The\ncentralized focus of such incubators is generating employment at the local\nlevel.<\/p>\n\n\n\n<p>These\nincubators underpin a viable ecosystem for entrepreneurship&#8217;s development\nacross the nation.<\/p>\n\n\n\n<p>The\nLBIs set up enterprises on a significant scale via commercial activities, which\nare already in effect.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Technology Business Incubation\n(TBI)<\/h3>\n\n\n\n<p>Technology\nBusiness Incubators, i.e. TBIs, refer to a productive economic development\ntool. TBI aims to promote the growth of an enterprise via innovation,\ntechnology and supporting economic development planning for small business\ndevelopment<\/p>\n\n\n\n<p>They also\nincentivize growth in local economies and facilitate methods for technology\ntransfer. The TBIs primarily emphasize those technologies that require aid for\ncommercialization and future proliferation.<\/p>\n\n\n\n<p>The\nprogrammes under TBI include the establishment of incubation centres,\nincubation of innovative ideas, and creation of newer enterprises backed by\ninnovative know-how &amp; accelerator programmes for incubators.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Start-up Promotion via Small\nIndustries Development Bank of India (SIDBI)<\/h3>\n\n\n\n<p>The <strong>SIDBI, i.e. Small Industries Development Bank of India<\/strong><sup><a href=\"https:\/\/en.wikipedia.org\/wiki\/Small_Industries_Development_Bank_of_India\"><strong>[1]<\/strong><\/a><\/sup>, support ideas that are unique and have the potential to turn into commercially viable enterprises within a specified duration with specific outcomes via innovative means of finance.<\/p>\n\n\n\n<p><strong><em>SIDBI&#8217;s\ninnovative means of finance include the following;<\/em><\/strong><\/p>\n\n\n\n<ul><li>quasi-equity<\/li><li>equity<\/li><li>venture\ncapital fund<\/li><li>impact\nfund<\/li><li>angel\nfund<\/li><li>challenge fund<\/li><\/ul>\n\n\n\n<p>A fund\nof funds (FoFs) is created under SIDBI for fulfilling the object of\ntransforming ideas into commercially viable enterprises.<\/p>\n\n\n\n<p>This\ncomponent emphasizes knowledge initiatives that seek to bolster success in the\ntechnology&#8217;s evolution. Besides, it also focuses on the following;<\/p>\n\n\n\n<ul><li>Businesses in the areas of innovation<\/li><li>Accelerator aid in Agro-based Industry vertices<\/li><li>entrepreneurship and forward-backwards linkage with diverse value chains of service delivery and manufacturing<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_the_type_of_assistance_provided_under_the_ASPIRE_scheme\"><\/span>What is the type of assistance\nprovided under the ASPIRE scheme?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong><em>One-time\ndisbursement of 100 per cent of the cost of Plant and Machinery (excluding\ninfrastructure and land) or the sum of Rs.100 lakh, whichever is lower, shall\nbe provided for LBI, which is to be established by;<\/em><\/strong><\/p>\n\n\n\n<ul><li>Coir Board or;<\/li><li>National Small Industries Corporation (NSIC) or;<\/li><li>Khadi and Village Industries Commission (KVIC) or;<\/li><li>Any government agency, either central or state-driven<\/li><\/ul>\n\n\n\n<p><strong><em>1. A one-time disbursement of 50 per cent of the cost of Plant &amp; Machinery (excluding infrastructure and land) or the sum of up to Rs.50 lakh, whichever is less, is provided for establishing incubation centres under PPP mode with;<\/em><\/strong><\/p>\n\n\n\n<ul><li>National Small Industries Corporation (NSIC) or;<\/li><li>Coir Board or;<\/li><li>Khadi and Village Industries Commission (KVIC) or;<\/li><li>Any other government institution or agency, either central or state-driven<\/li><\/ul>\n\n\n\n<p><strong><em>2. A one-time disbursement of 50 per cent of Plant &amp; Machinery (excluding infrastructure and land) or a sum of up to thirty lakhs rupees, whichever is less, is provided to establish centres dedicated to incubation &amp; enterprise creation and in the domain of the Agri sector. The said credit shall also be provided for supporting existing incubation centres falling under TBI by various Departments or Ministries or Government-backed institutions such as; <\/em><\/strong><\/p>\n\n\n\n<ul><li>Department of Science &amp; Technology<\/li><li>Department of Biotechnology<\/li><li>International Crops Research Institute for the Semi Arid Tropics <\/li><li>The Indian Council of Agricultural Research (ICAR)<\/li><\/ul>\n\n\n\n<p><strong><em>3. A one-time disbursement of 50 per cent of Plant &amp; Machinery (excluding infrastructure and land) or the sum of up to Rs.100 lakh, whichever is lower, is provided <\/em><\/strong>for establishing new incubation facilities under TBI by qualified departments aiming for enterprise creation and incubation in the domain of Agro sector.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Funding_Pattern_Of_ASPIRE_Scheme\"><\/span>Funding Pattern Of ASPIRE\nScheme<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p> The budget of 2014-2015 earmarked the funding worth Rs.200 crore to ASPIRE. The budget of 2019 envisaged establishing 80 LBI and 20 TBI in 2019-20 under ASPIRE scheme. The following table depicts the corpus allocation for this scheme. <\/p>\n\n\n\n<table class=\"table table-bordered\"><tbody><tr><td>\n  Sl.No\n  <\/td><td>\n  Items\n  <\/td><td>\n  Amount\n  (INR) \n  <\/td><\/tr><tr><td><\/td><td><\/td><td><\/td><\/tr><tr><td>\n  1\n  <\/td><td>\n  Creation,\n  maintenance &amp; advancement of the database of the Technology facilities\n  network\n  <\/td><td>\n  2\n  crore\n  <\/td><\/tr><tr><td><\/td><td><\/td><td><\/td><\/tr><tr><td>\n  2\n  <\/td><td>\n  Capacity\n  Building, including Engagement of Surveys, Consultants, Exposure Visits,\n  Awards,&nbsp;Studies, tracking &amp; Evaluation, etc.\n  <\/td><td>\n  17.75\n  crore\n  <\/td><\/tr><tr><td><\/td><td><\/td><td><\/td><\/tr><tr><td>\n  3\n  <\/td><td>\n  Fund\n  for establishing of Incubation facilities by NSIC, Coir Board, KVIC or any\n  other agency of the GOI\/State Government\n  <\/td><td>\n  62.50\n  crore\n  <\/td><\/tr><tr><td><\/td><td><\/td><td><\/td><\/tr><tr><td>\n  4\n  <\/td><td>\n  Fund\n  for establishing of Technology Incubation facilities (TBI)\n  <\/td><td>\n  61.50\n  crore\n  <\/td><\/tr><tr><td><\/td><td><\/td><td><\/td><\/tr><tr><td>\n  5\n  <\/td><td>\n  Administrative\n  cost @ 10 percent of the product cited in the 3rd row of this table above\n  <\/td><td>\n  .6.25\n  crore\n  <\/td><\/tr><tr><td><\/td><td><\/td><td><\/td><\/tr><tr><td>\n  6\n  <\/td><td>\n  Fund\n  of Funds (FoFs)for Start-ups to be administered by SIDBI\n  <\/td><td>\n  60\n  crore\n  <\/td><\/tr><\/tbody><\/table>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The primary objective of the ASPIRE scheme is to underpin the network of incubation and technology centers to speed up the wave of entrepreneurship nationwide. Also, it aims to encourage and support startups for innovation in Agro sector. <\/p>\n\n\n\n<p class=\"text-left\"><b>Read our Article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/government-schemes-launched-by-msme\/\">What are The Government Schemes Launched by MSME?<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ASPIRE is an abbreviation for the A Scheme for Promotion of Innovation, Rural Industries and Entrepreneurship. GOI has launched this scheme in association with the Ministry of Micro, Small and Medium Enterprises (MSME). It came to effect to establish a network of technology centers and incubation centers for improving entrepreneurship pan India. It seeks to [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":43893,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[176],"tags":[2385],"acf":{"service_id":"71"},"authorName":"Pankaj Tyagi","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/01\/MicrosoftTeams-image-42.jpg","authorDescription":"Pankaj has a diverse experience of writing research papers, blog, and articles during his college time. Earlier, he was working as a tax consultant in a financial firm, but his interest in writing drives him to pursue a career in the writing field.","postViews":4499,"readingTime":5,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/43885"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=43885"}],"version-history":[{"count":19,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/43885\/revisions"}],"predecessor-version":[{"id":43910,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/43885\/revisions\/43910"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/43893"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=43885"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=43885"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=43885"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}