The Entrepreneurial and Managerial Development of SMEs through Incubators is a scheme established under the guidance of the Ministry of Micro, Small and Medium Enterprises.
Various Objectives addressed by this scheme
This scheme is meant to serve multifarious purposes by accomplishing the following crucial objectives.
- Due promotion of emerging technological and knowledge-based innovative ventures that aim to seek adequate nurturing of ideas from professionals in specific fields.
- To promote and support untapped potential trapped in individuals across the country due to the lack of platforms to display. Young innovators will now get to assist individual innovators to gain profitable experience in technology-based entrepreneurs.
- To promote the networking and forging of linkages with definite parts of the innovation chain for further commercialization and development.
What benefits are covered under the scheme?
The funding support for the Scheme:
The cost may vary from anywhere between ₹4 lakhs to ₹8 lakhs for each incubate / idea and is subject to an overall ceiling provided would be of ₹62.5 lakh for each Business Incubator (BI).
Any individual or MSME with path-breaking and innovative ideas, who feel their idea can be commercialized and can further impart value to its assumed customer base can apply to the Host Institution (eg. IITs, NITs, technical Colleges, research institutes, etc.) in order to gain necessary funding for their project.
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