New Delhi, Mar 5 (KNN) National Institute of Entrepreneurship and Small Business Development (NIESBUD) and the Ministry of Rural Development (MoRD) have signed a MoU to create a sustainable model for entrepreneurial promotion at the grass roots by initiating the Start-up Village Entrepreneurship Programme (SVEP).

SVEP is a sub-component of Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM).

Its objective is to help and assist entrepreneurs in rural areas to set-up enterprises at the village-level in non-agricultural sectors. 

Speaking on the partnership, Rajesh Aggarwal, Secretary, Ministry of Skill Development & Entreprenuership said, “SVEP will help create an innovative ecosystem, accelerating economic and social gains at the community level. The scheme also aims at building an inclusive society by providing equal opportunities to all along with the required financial support.”

This pact will empower the rural community by helping them set up their trades and provide complete support till they are stabilized. 

Looking from an intervention perspective it will provide knowledge, advisory and financial support to the public and will help create village-level community cadre.

Under the partnership rural entrepreneurs will be able to access banking systems for receiving financial support for starting their enterprises, including support from MUDRA bank. (KNN Bureau)