NIESBUD signs an MoU with Ministry of Rural Development for implementing the Start-up Village Entrepreneurship Programme.

Why in news?

• National Institute of Entrepreneurship and Small Business Development (NIESBUD) — an autonomous 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).

Start-up Village Entrepreneurship Programme

• 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 stabilized. 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.