National Scheme on Entrepreneurship Development

Hyderabad, Sept.23: Industries Principal Secretary Arvind Kumar said 30 Institutes of Higher Learning, five schools, 15 Industrial Training Institutes and two Entrepreneurship Development centers would be set up in the State under the National Scheme on Entrepreneurship Development. The new scheme on Entrepreneurship Development has been formulated by the Union Ministry of Skill Development to create an enabling ecosystem for entrepreneurship development through entrepreneurship education and training. The scheme targets to cover 7.10 lakh students in the country through various project institutes such as Institutes of Higher Learning, Schools, Industrial Training Institutes, Entrepreneurship Development Centers and Skill Development Centers in five years (2016-17 to 2020-21). The last date for submission of applications for empanelment of project institutes is September 26. The Request for Proposal is available on www.msde.gov.in and www.niesbud.nic.in. Under the scheme, Project institutes which have 2500 sft space or higher and can allocate at least two faculty/facilitators in the first year and an additional faculty/facilitator from second year onwards are eligible for selection. The institutes should also have the broadband connectivity of at least 100 MBPS and possess necessary audio-visual equipment and computers and should enroll in an average minimum of 250 students under the project every year during the first four years. The Government of India will provide financial assistance to the selected institutions to set up the infrastructure for delivering the programs. The institutions will receive a grant of Rs 9 lakh for a period of five years plus additional Rs 3 lakh for infrastructure set up in Government institutions. An Honorarium of Rs 5000 per month will be provided for each faculty facilitator and towards costs related to faculty training.