ASPIRE Scheme (MSME Innovation & Rural Entrepreneurship)

To enable the effective setup and operation of these incubators, ASPIRE provides comprehensive funding support, including assistance of up to ₹1 crore for government agencies and up to ₹75 lakh for private agencies for plant and machinery.

ASPIRE is a flagship initiative of the Ministry of MSME aimed at accelerating innovation, rural industry development, and entrepreneurship across India.

The scheme focuses on establishing a strong network of Livelihood Business Incubators (LBIs) in rural and underserved regions to nurture micro-enterprises, especially in the agro-rural sector.

By strengthening local entrepreneurial ecosystems, the ASPIRE scheme empowers rural youth, promotes technology adoption, and supports the growth of sustainable rural enterprises.

ASPIRE Scheme (MSME Innovation & Rural Entrepreneurship) Objective Image

Objectives

To set up a network of Livelihood Business Incubators (LBIs), predominantly in the rural and underserved areas, to promote innovation and accelerate entrepreneurship for the following.
Generate employment opportunities by facilitating formal, scalable micro-enterprise creation in the agro-rural sector.
Skill, up-skill, re-skill unemployed, self-employed/ wage earners in new technologies in the agro-rural sector.
Provide skilled human capital to nearby industrial clusters and promote innovations for strengthening the competitiveness in the MSME sector.

Benefits

Maximum of INR 1 crore. to Government agencies & INR 75 lakh to Private agencies for procuring plant and machinery.
Maximum of INR 1 crore. to Government and Private agencies as operational expenditure support towards manpower cost, running incubation and skill development programmers, etc.

ASPIRE Scheme (MSME Innovation & Rural Entrepreneurship) Benefit Image

Eligibility

Individuals Must be 18 years or older Interested in establishing ventures in rural or agro-based industries
MSMEs Must possess a valid Udyam Registration Focus on agro-rural products, services, or technologies
Institutions Technical institutes, universities, R&D centres Particularly those working on agriculture, rural technologies, or innovation-driven rural development

How to Apply?

The applicant organization shall select a designated Mentor Institute under the ASPIRE scheme and prepare the proposal in the prescribed format.

The Detailed Project Report (DPR) shall be submitted online through the ASPIRE portal of the Ministry of MSME (www.aspire.msme.gov.in) or sent as a soft copy to the Ministry until the portal is fully operational.

The selected Mentor Institute shall scrutinize and validate the proposal before forwarding it for further processing.

The proposal shall be examined by the Project Screening Committee (PSC) based on feasibility, local requirements, and scheme guidelines.

Proposals recommended by the PSC shall be placed before the Scheme Steering Committee (SSC) for final approval.

Upon approval by the SSC, financial assistance shall be released in installments as per prescribed norms and submission of utilization certificates.

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Details & Documents

Subject	Type	Document Size	Date	Action
ASPIRE Scheme (MSME Innovation & Rural Entrepreneurship) Details	.pdf	1.93 MB	01 Apr 2026	Download