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NIESBUD signs an MoU with Ministry of Rural Development for implementing the Start-up Village Entrepreneurship Programme
New Delhi, 04th March, 2022: National Institute of Entrepreneurship and Small Business Development (NIESBUD) — an organisation under the Ministry of Skill Development and Entrepreneurship (MSDE) signed a Memorandum of Understanding (MoU) with the Ministry of Rural Development (MoRD) to develop a sustainable model for promoting entrepreneurship at the grass roots by initiating the Start-up Village Entrepreneurship Programme (SVEP).
SVEP is a sub-component of Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM) of the Ministry of Rural Development. It aims to support entrepreneurs in rural areas to set-up enterprises at the village-level in non-agricultural sectors. The partnership will enable the rural community by helping them set up their trades and provide complete support till they are stabilised. This pragmatic intervention will provide knowledge, advisory and financial support to the public and will help create village-level community cadre.
Under the partnership rural entrepreneurs will be able to access banking systems for receiving financial support for starting their enterprises, including support from MUDRA bank. Integrated ICT techniques and tools will also be provided for training and capacity building along with enterprise advisory services to augment the entrepreneurship ecosystem in India’s villages. The beneficiaries of the project are from the Self-Help Group (SHG) ecosystem of DAY-NRLM and the scheme not only supports existing enterprises but new enterprises as well.
On the partnership, Shri Rajesh Aggarwal, Secretary, Ministry of Skill Development & Entrepreneurship said, “Our Hon’ble Prime Minister, Shri Narendra Modi has highlighted that Indians should dream of becoming job creators from job seekers and in this regard, SVEP will help create an innovative ecosystem, accelerating economic and social gains at the community level. The scheme also aims at building an inclusive society by providing equal opportunities to all along with the required financial support. India is a land of opportunities and by helping our youth access these prospects, we are catering to their aspirations. I am confident that this partnership will help in training the rural community and will provide them with necessary resources for entrepreneurship to increase their income and will pave the way for building Aatmanirbhar Bharat.”
Rural entrepreneurship can play a significant role in the overall economic development of India. A huge number of employment opportunities can be generated because of the rural entrepreneurship for the people who are living in rural or remote geographies. The old-age artistic heritage has also been conserved by protecting as well as promoting the rural entrepreneurship. Economists too have stressed on how economic backwardness of a region can be attributed to its lack of entrepreneurs. Therefore, in the past few years, Skill India has been working persistently to bridge the skill gap by giving entrepreneurs easy access to funding, providing the right mentorship, and improving ease of doing business in the country.
About Ministry of Skill Development and Entrepreneurship (MSDE)
MSDE was formed on 9th November 2014, by the Government of India to focus on enhancing employability of skills. Since its inception, MSDE has undertaken significant initiatives and reforms in terms of formalizing the policy, framework and standards; launching of new programs and schemes; creating new infrastructure and upgrading the existing institutions; partnering with States; engaging with industries and building societal acceptance and aspirations for skills. The Ministry aims to bridge the gap between demand and supply of skilled manpower to build new skills and innovation not only for existing jobs but also for jobs that are to be created. Till date, more than three crore people have been trained under Skill India.
About National Institute for Entrepreneurship and Small Business Development (NIESBUD)
The National Institute for Entrepreneurship and Small Business Development is a premier organization working under the guidance and overall supervision of the Ministry of Skill Development and Entrepreneurship, engaged in training, consultancy, research, etc. in order to promote entrepreneurship and Skill Development. NIESBUD has provided training to over 12 lakhs people till date through more than 45 thousand different training programmes since inception including 5000 plus international participants hailing from more than 145 countries.