Incubator Project of NSIC for Small Enterprises Inaugurated

The Union Minister for Small Scale Industries and Agro & Rural Industries, Shri Mahabir Prasad inaugurated the Incubator Project of National Small Industries Corporation (NSIC) here today. NSIC has been working to fulfill its mission of promoting, aiding and fostering the growth of the small enterprises in the country. Enterprise development is one of the thrust areas of the Corporation. Incubation is one of the appropriate tools to achieve this goal, as it provides necessary facilities for the prospective entrepreneurs and start up companies to learn product manufacturing processes coupled with technology development, business development etc. under one roof. The Corporation during the current financial year had obtained approval for setting up of Technology Business Incubator and a grant of Rs.50.00 lakh had been earmarked for this purpose.

The main objectives of this scheme are : development of new enterprises particularly in the small scale sector; accelerate the growth of start-up enterprises; to provide exposure to entrepreneurs desirous of setting up projects in the country ; and to provide a permanent exhibition of live projects at one central location.

An MoU between HSBC and NSIC was also signed on this occasion.

Source : Press Information Bureau

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