Vel Tech MSME Business Incubator Supported by Ministry of Micro, Small and Medium Enterprises ( MSME)
The objective of the scheme is to provide early stage funding for nurturing innovative business ideas (new indigenous technology, processes, products, procedure, etc.) which could be commercialised in a year. Under the scheme of Support for Entrepreneurial and Managerial Development of SMEs financial assistance is provided for setting up of business incubators.
Funding support for setting up of ‘Business Incubators (BI)’.The cost may vary between Rs.4-8 lakh for each incubatee/idea, subject to overall ceiling of Rs. 62.5 lakh for each BI. Items @per BI
a. Upgradation of infrastructure Rs. 2.50 lakhs
b. Orientation/Training Rs. 1.28 lakhs
c. Administrative expenses Rs. 0.22 lakh
Thus the total assistance per BI – Rs. 66.50 lakhs