The Indian Institute of Entrepreneurship under the Ministry of Skills Development and Entrepreneurship (MSDE) has signed a Memorandum of Understanding with the Ministry of Rural Development (MoRD), to promote entrepreneurship among rural youth in launching the “Startup Village Entrepreneurship Program” (SVEP).
SVEP is a sub-component of Deendayal Antyodaya Yojana – National Rural Livelihood Mission (DAY-NRLM) – which aims to support entrepreneurs in rural areas to establish village-level businesses in non-agricultural sectors.
“By developing a sustainable model for promoting village entrepreneurship, the program aims to enable the rural poor in the Self-Help Group (SHG) ecosystem to start their own businesses by developing self-employment opportunities for rural unemployed,” read the MSDE statement.
The Indian Institute of Entrepreneurship (IIE) in Guwahati will act as the National Resource Organization (NRO) for the SVEP to provide support to the State Rural Livelihoods Mission (SRLM) for the successful implementation of the program . The IIE, created in 1993, is an autonomous organization reporting to the MSDE. The main objective of the institute is to provide training, research and consultancy services to small and micro-enterprises, with particular emphasis on the development of entrepreneurship.
The government says the NRO should play a dual role in the implementation of SVEP, including working as implementing partners in the block and expanding the program based on the blocks experience with SVEP. SVEP will develop local resources by forming a community pool at the village level called the Community Resource Person-Enterprise Promotion Framework (CRP-EP) and build the capacity of NRLM and SHG federations to monitor, direct the work of CRPEPs, said the ministry.
It will further assist rural entrepreneurs to access finance to start their businesses from the National Rural Livelihoods Mission, Self Help Groups and Federations, banking systems including MUDRA.
“We are confident that this will further boost job opportunities in rural India with a step towards Atmanirbhar Bharat and as our Prime Minister has said, start-ups will be the backbone of the new India of our dreams,” said Rajesh Aggarwal, Secretary of the Ministry of Skills Development and Entrepreneurship.
Further, the MSDE stated that the MoRD will notify all States/UTs of the constitution of the IIE as NRO under the SVEP to help accelerate growth. In addition, the IIE will work closely with the SRLMs to serve as the national SVEP resource organization.