Call for Applications -Millennium Fellowship Program
Organisation Name:
Government of India
Application Deadline:
No Deadline
About Organisation
The Indian government, through the Ministry of Micro, Small and Medium Enterprises (MSME), has launched the ASPIRE initiative to boost entrepreneurship and innovation in rural and agriculture-based industries. The scheme aims to establish a robust network of technology and incubation centers to nurture startups and MSMEs in critical sectors. By fostering innovation-driven enterprises, ASPIRE seeks to enhance productivity, generate employment, and support small businesses in scaling their operations.
A key component of ASPIRE is the establishment of Technology Business Incubators (TBIs) that facilitate research, development, and commercialization of new ideas. These centers provide state-of-the-art infrastructure, mentorship, and funding support to early-stage entrepreneurs working in agriculture, biotechnology, life sciences, and medical sciences. Additionally, the initiative promotes the creation of Livelihood Business Incubators (LBIs) to equip individuals with the necessary skills to establish sustainable businesses.
By collaborating with institutions such as the National Small Industries Corporation (NSIC), Khadi and Village Industries Commission (KVIC), and the Coir Board, ASPIRE ensures comprehensive support to MSMEs across various sectors. The initiative aligns with the government’s broader vision of fostering self-reliance, strengthening rural economies, and encouraging sustainable industrial growth through capacity building and technological advancements.
About the Grant
The Indian government, through the Ministry of Micro, Small and Medium Enterprises (MSME), has launched the ASPIRE initiative to boost entrepreneurship and innovation in rural and agriculture-based industries. The scheme aims to establish a robust network of technology and incubation centers to nurture startups and MSMEs in critical sectors. By fostering innovation-driven enterprises, ASPIRE seeks to enhance productivity, generate employment, and support small businesses in scaling their operations.
A key component of ASPIRE is the establishment of Technology Business Incubators (TBIs) that facilitate research, development, and commercialization of new ideas. These centers provide state-of-the-art infrastructure, mentorship, and funding support to early-stage entrepreneurs working in agriculture, biotechnology, life sciences, and medical sciences. Additionally, the initiative promotes the creation of Livelihood Business Incubators (LBIs) to equip individuals with the necessary skills to establish sustainable businesses.
By collaborating with institutions such as the National Small Industries Corporation (NSIC), Khadi and Village Industries Commission (KVIC), and the Coir Board, ASPIRE ensures comprehensive support to MSMEs across various sectors. The initiative aligns with the government’s broader vision of fostering self-reliance, strengthening rural economies, and encouraging sustainable industrial growth through capacity building and technological advancements.
About the Grant
The ASPIRE grant is designed to provide financial assistance for setting up incubation centers and technology hubs to support MSMEs and startups in agriculture-based industries. The initiative focuses on promoting innovation, capacity building, and entrepreneurship in sectors such as agricultural sciences, life sciences, biotechnology, and medical sciences.
Under this scheme, Livelihood Business Incubators (LBIs) can be established by NSIC, KVIC, the Coir Board, or other government agencies. These incubators receive a one-time grant covering 100% of the cost of plant and machinery, up to ₹100 lakh, excluding land and infrastructure costs. For incubation centers set up under a Public-Private Partnership (PPP) model, the scheme provides 50% of the cost of plant and machinery, up to ₹50 lakh, ensuring sustainable infrastructure development.
The initiative also offers financial support for training incubates through the MSME Ministry’s ATI scheme, fostering skill development and technical expertise. The incubation period for startups ranges from 12 to 24 months, ensuring adequate time for product development, testing, and market entry. Through this funding mechanism, ASPIRE aims to create a thriving entrepreneurial ecosystem that drives economic growth, particularly in rural and agriculture-focused industries.
Who can Apply?
The ASPIRE grant is designed to provide financial assistance for setting up incubation centers and technology hubs to support MSMEs and startups in agriculture-based industries. The initiative focuses on promoting innovation, capacity building, and entrepreneurship in sectors such as agricultural sciences, life sciences, biotechnology, and medical sciences.
Under this scheme, Livelihood Business Incubators (LBIs) can be established by NSIC, KVIC, the Coir Board, or other government agencies. These incubators receive a one-time grant covering 100% of the cost of plant and machinery, up to ₹100 lakh, excluding land and infrastructure costs. For incubation centers set up under a Public-Private Partnership (PPP) model, the scheme provides 50% of the cost of plant and machinery, up to ₹50 lakh, ensuring sustainable infrastructure development.
The initiative also offers financial support for training incubates through the MSME Ministry’s ATI scheme, fostering skill development and technical expertise. The incubation period for startups ranges from 12 to 24 months, ensuring adequate time for product development, testing, and market entry. Through this funding mechanism, ASPIRE aims to create a thriving entrepreneurial ecosystem that drives economic growth, particularly in rural and agriculture-focused industries.
How to Apply?
Applicants must submit a proposal detailing their project scope, technological focus, and expected outcomes. The application should include a budget estimate specifying the cost of plant and machinery, excluding land and infrastructure costs. The Ministry of MSME reviews applications, and shortlisted projects receive funding support based on eligibility and impact potential.
Application Deadline
Applications for the ASPIRE grant are accepted on a rolling basis. Proposals are evaluated continuously, and approvals are granted based on project feasibility and available funds.
Last Date to Apply
There is no fixed deadline for submissions. Applications are reviewed throughout the year, allowing applicants to submit proposals at their convenience.
Grant Amount
Funding for Livelihood Business Incubators covers 100% of plant and machinery costs, up to ₹100 lakh. For incubation centers under the PPP model, 50% of the cost, up to ₹50 lakh, is provided.
For more information, please visit the grant website here.
