New Delhi : The Minister of State (IC) for Micro, Small and Medium Enterprises (MSMEs) Giriraj Singh recently inaugurated Livelihood Business Incubation Centre at Bapu Nature Cure Hospital and Yogashram in the Mayur Vihar region of the national capital.
The incubation centre is built on a PPP model under the Scheme for Promoting Innovation, Rural Industry and Entrepreneurship (ASPIRE) program of the government, the Minister informed on his official twitter handle.
The ASPIRE scheme was launched by the Ministry of Micro, Small and Medium Enterprises in an attempt to generate new jobs and reduce the unemployment rates in the country.
Also the focus areas of the schemes included promoting entrepreneurship culture, grassroots economic development at district level, bringing in innovative business solutions and facilitating a competitive environment for the Micro, Small and Medium Enterprises in the country.
Under the livelihood Business Incubation model provision of the ASPIRE scheme, the main objective 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.
Note: News shared for public awareness with reference from the information provided at online news portals.