ASPIRE has been launched on 16.03.2015 with an objective to set up a network of technology centers, incubation centres to accelerate entrepreneurship and also to promote start-ups for innovation and entrepreneurship in rural and agriculture based industry with a fund of Rs.210 crores
- The planned outcomes of ASPIRE are setting up Technology Business Incubators (TBI), Livelihood Business Incubators (LBI) and creation of a Fund of Funds for such initiatives with SIDBI.
- 1st LBI set up in April-2015 under ASPIRE within a month of launching the Scheme. The first batch of 107 youth has been trained and skilled through it.
- 19 LBIs have been approved till September 2015 and another 9 LBIs & 2 TBI is ready to be approved.
What are Technology Business Incubators (TBIs)?
Technology business incubators are a powerful economic development tool. They promote growth through innovation and application of technology, support economic development strategies for small business development, and encourage growth from within local economies, while also providing a mechanism for technology transfer.
What are Livelihood Business Incubators (LBI)?
The main objective of this component of the Scheme is to set up business incubators to incubate, impart entrepreneurship, skill development training to youth, mentoring and hand holding with facilitation for funding with a view to empower them to set up own business enterprises. The prime focus of these incubators is to create jobs at local level and reduce un-employment by creating a favourable ecosystem for entrepreneurial development in the country. The main focus area under the livelihood incubation is to take up those commercial activities which are already established to create enterprises on a large scale.