News: Start-Up Village Entrepreneurship Programme(SVEP) has extended business support services and capital infusion to 153 blocks of 23 states.As of August 2020, around 1 lakh enterprises are being supported out of which 75% are owned and managed by women.
Facts:
- SVEP: It was launched in 2016 by the Ministry of Rural Development as a sub-scheme under the Deendayal Antyodaya Yojana – National Rural Livelihoods Mission(DAY-NRLM).
- Objective: To support the rural poor come out of poverty by supporting them to set up enterprises and provide support till the enterprises stabilize.
- It also focuses on providing self-employment opportunities with financial assistance and training in business management and soft skills while creating local community cadres for promotion of enterprises.
- Pillars: It addresses three major pillars of rural start-ups namely – finances, incubation and skill ecosystems.
- Features:
- SVEP promotes both individual and group enterprises set-up and promotes enterprises majorly in manufacturing, trading and service sectors.
- Community resource persons – enterprise promotion (CRP-EP): These are certified local persons who provide business support services to the entrepreneurs.
- Block resource center(BRC): It has been set up to monitor and manage the community resource persons, appraise SVEP loan application and acts as the repository of enterprise related information in the concern block.
- Technical Support: Entrepreneurship Development Institute of India (EDII), Ahmedabad is the technical support partner of SVEP.
Additional Facts:
- DAY-NRLM: It was launched by the Ministry of Rural Development (MoRD) in 2011.
- Aim: To create efficient and effective institutional platforms of the rural poor by enabling them to increase household income through sustainable livelihood enhancements and improved access to financial services.
- Funding: The program is aided in part through investment support by the World Bank.
