Ministry Looks To Promote Innovation Among MSMEs | SupportBiz


Ministry Looks To Promote Innovation Among MSMEs

500 new incubation centres would be set up across the country by next year

With an aim of setting up incubations centres to accelerate entrepreneurship, the Government has launched a scheme to promote Innovation, Entrepreneurship and agro industry in the national capital on Wednesday

Kalraj Mishra, Union Minister for Micro, Small and Medium Enterprises (MSME), said, “The scheme was formulated to set up a network of technology centres and to set up incubation centres to accelerate entrepreneurship and also to promote start-ups for innovation and entrepreneurship in agro-industry.”  

The Finance Minister's in his budget speech had suggested establishing Technology Centre Network to promote Innovation, Entrepreneurship and Agro Industry with a fund of Rs.200 crore. 

Mishra also announced the setting up of 500 new incubation centres all over India by next year.

The Ministry also said that mentoring support to would be provided through NSIC and other Agencies of Ministry of MSME.

The Accelerator workshop programme would also facilitate the process of entrepreneur creation and scaling up the existing talent pool. The total allocated budget under this head would be Rs. 61.50 Crore setting up 30 TBIs.