Start-up Village Entrepreneurship Programme.

Why in news?

• Indian Institute of Entrepreneurship (IIE) under the aegis of Ministry of Skill Development and Entrepreneurship (MSDE) signed a MoU with the Ministry of Rural Development (MoRD) to enhance the impact of Start-up Village Entrepreneurship Programme (SVEP).

About SVEP

• SVEP is being implemented since 2016 by the Ministry of Rural Development.
• It is a sub scheme of the National Rural Livelihoods Mission (NRLM).
• SVEP’s objective is to support entrepreneurs in rural areas to set-up enterprises at the village-level in non-agricultural sectors. Its focus is on providing self-employment opportunities in rural areas.
• It helps rural poor to come out of poverty. They are encouraged to setup enterprises and support is provided till the enterprise stabilizes. Financial assistance and training in business management are also provided. Thus, the three main pillars of start-up i.e. finances, incubation and skill ecosystems are addressed by the scheme.
• Self-help group (SHG) ecosystem of DAY-NRLM and the main beneficiaries of SVEP. SVEP aims to develop a pool of community resource persons – enterprise promotion (CRP-EP) who are local & support entrepreneurs setting-up enterprises in rural areas.
• SVEP also promotes block resource center (BRC) in SVEP blocks, to monitor and manage the community resource persons (CRP) and appraise SVEP loan application. BRCs support sustainable revenue model to operate efficiently and independently.