The kerala state govt. has given approval to the Startup Village Entrepreneurship Program (SVEP) for all districts across the state. Recently, kerala govt. has introduced new 12 startup projects under the State Poverty Eradication Mission’s Kudumbashree programme.
The Ministry for rural development has informed that these new projects will be an integrated part of the Startup Village Entrepreneurship Program (SVEP). The new startup project will increase the no. of entrepreneurs and more employment opportunities in the country.
The startup program has already been implemented in Parakkode block in the southern district of Pathanamthitta and in Ernakulam’s Vadavukodu block. According to officials, around Rs. 6.5 crore has been allocated for each block. The projects for start ups are being implemented to provide the financial and technical help to the new start ups and also to the existing start ups.
Objective Under Startup Village Entrepreneurship Program (SVEP)
- The state govt. has made an announcement that SVEP Scheme aims to support over 2,000 startups in the state.
- These projects would provide the opportunities to the new startup owners.
- The new SVEP project, the Kerala government is promoting the startup culture in smaller cities, towns, and villages.
- The state government of Kerala will also conduct Performance improvement programme to assist the existing companies on their daily basis operations.
- Under this scheme, the young generation who wants to make their career in the business can borrow financial assistance.
After the successful implementation of the projects, Kerala state would emerge as the only state in the country that have introduced the SVEP project in all its districts. The project will help evaluate the viability of entrepreneurial ventures, especially in rural areas.
According to the official notification, the govt. would set up the Kudumbashree National Resource Organisation. The organisation will be setting up as a resource hub for new and struggling startups. In the organisation, around 60% of the total fund will be provided by the Union Government.
In June 2017, govt. had set up a government-partnered funding system for startups. The initiative of this fund is to help entrepreneurs network with investors and gain further mentoring on funding and marketing their products.