Economy

MSME Ministry to push start-ups in agro industry

OUR BUREAU New Delhi | Updated on November 21, 2014

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₹200-crore corpus to nurture start-ups, Network of Technology Centres





A Network of Technology Centres and promotion of start-ups by SIDBI are among steps to promote innovation and entrepreneurship in agro industry proposed by the MSME Ministry in a new scheme.

The scheme follows the announcement of a ₹200-crore fund by Finance Minister Arun Jaitley in his Budget speech this year for promoting innovation and entrepreneurship in agro industry. A draft scheme, prepared by the Ministry of Micro, Small and Medium Enterprises (MSME), has been put up on its website, invited suggestions within 15 days.

Network of schemes

The draft seeks to establish a network of schemes run by various Ministries and departments. “Most of these schemes/departments are working silos. There is a need for establishing a network, building a database… so that these are easily accessible to entrepreneurs,” says the draft.

The corpus of ₹200 crore will be for automation of agricultural practices, value-addition to farm and forest produce, recycling of agricultural pre/post harvest wastage among others.

The proposed ‘Network of Technology Centres’ will create a database of technologies available with Government as well as private agencies for ‘hand-holding’ prospective entrepreneurs.

To encourage innovation, the scheme proposes to create a framework for start-up promotion through the Small Industries Development Bank of India.

Job opportunities

In addition, ‘Livelihood Incubation Centres’ and “Technology Business Incubation Centres will be set up at the local level to create jobs and boost entrepreneurship. Also, National Small Industries Corporation will replicate its ‘Rapid Incubation Model’.

“Each incubator will be provided a one-time grant of 50 per cent of the cost of plant & machinery or ₹50 lakh, whichever is less,” according to the draft.

The overall policy coordination will be done by a Governing Council, headed by the Secretary, MSME Ministry, with his counterparts in the Agriculture, Food Processing, Rural Development, Information Technology, Biotechnology, Labour & Employment, DIPP as members, among others.

Published on November 21, 2014

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