Government mulls scheme to set up entreprenuers club

New Delhi, July 31 (UNI) The Ministry of micro, small and medium enterprises has formulated a new scheme to provide financial support to five select universities/colleges in every state to set up and run 1200 entrepreneurs clubs beginning 2006-07.

According to an offical release issued here today, the financial support will be provided to 50 select universities and training institutions as grant-in-aid for setting up of 100 enterprise incubators to host 1000 micro and small enterprises over a period of 5 years beginning 2006-07.

The extent of the grant may vary based on the nature of the enterprises to be incubated, an average of Rs 5 lakh per enterprise seems reasonable. This will help in promoting new enterprises, specially in the fields of biotechnology, pharmaceuticals and similar new and innovative fields.

An amount of Rs 1.13 crore has been earmarked in the BE of 2007-08, out of which Rs 0.23 crore has been set aside for SCs and STs, the release added.

UNI