About this scheme
A Scheme for Promotion of Innovation, Rural Industries, and Entrepreneurship — supports Livelihood Business Incubators (LBI) and Technology Business Incubators (TBI) in rural areas to create employment.
What you get
- One-time grant up to Rs. 1 Cr for LBI setup
- Up to Rs. 30 lakh recurring for 3 years
- TBI grant up to Rs. 3 Cr for technology incubation
- Seed funding for incubated startups
- Training, mentoring, and market linkages
- Convergence with PMEGP and MUDRA
Who qualifies
NSIC, KVIC, Coir Board, or any other institutional entity setting up a Livelihood Business Incubator. Also Section 8 companies / NGOs in rural areas with at least 3 years of community work.
All industries qualify (no NIC restriction).
Business types
Section 8 CompaniesPrivate Limited
Available across India (central scheme).
How to apply
- 1Submit proposal via ASPIRE portal
- 2National Advisory Committee evaluation
- 3On approval, grant released in 4 tranches over 3 years
- 4Annual progress audit
- 5LBI must incubate at least 50 rural entrepreneurs/year
Key terms and conditions
- Funds tied to specific milestones (infra, training, outcomes)
- Anchor institution required (NSIC/KVIC/etc.)
- Annual audit + outcome report mandatory
- 5-year continuity expected post-grant
What disqualifies you
- Urban-focused incubators not eligible
- For-profit individual entrepreneurs cannot apply directly
- Pure training centres without incubation excluded
Documents typically required
- Section 8 registration
- LBI/TBI proposal
- Land/lease
- Anchor agency tie-up
The content above is compiled from public information published by the scheme authority. Eligibility, benefits, and procedures are subject to change. Confirm details directly with the official portal before applying. BharatSeal does not process scheme applications.