Start-Up Village Entrepreneurship Programme (SVEP)

In News 

• The Indian Institute of Entrepreneurship (IIE) under the aegis of Ministry of Skill Development and Entrepreneurship (MSDE) signed a Memorandum of Understanding (MoU) with the Ministry of Rural Development (MoRD), to promote entrepreneurship at a local level amongst the rural youth under SVEP.

About SVEP 

• It is implemented by Deendayal Antyodaya Yojana –National Rural Livelihoods Mission (DAY-NRLM), Ministry of Rural Development, as a sub-scheme since 2016. 
• SVEP 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.
• SVEP promotes both individual and group enterprises, set-up and promote enterprises majorly in manufacturing, trading and service sectors. 
• The Indian Institute of Entrepreneurship (IIE), Guwahati, Assam, will act as a National Resource Organisation (NRO) for SVEP 
• Key Areas:

• To develop a pool of community resource persons – enterprise promotion (CRP-EP) who are local and support entrepreneurs setting-up rural enterprises. 
• To promote the block resource centre (BRC) in SVEP blocks, 
• To monitor and manage the community resource persons, appraise SVEP loan applications and act as the repository of enterprise related information in the concerned block. 
• BRCs play the role to support a sustainable revenue model to operate effectively and independently.

• Objective: 
  • To support the rural poor coming out of poverty, supporting them to set up enterprises and provide support till the enterprises stabilise, 

• To develop local resources by training a pool of village level Cadre of Community Resource Persons-Enterprise Promotion (CRP-EP) and build the capacity of the NRLM and SHG federations to monitor, direct the work of the CRPEPs. 

• Significance

• The partnership will enable the rural community by helping them set up their trades and provide complete support till they are stabilised, said a statement from MSDE.
• The rural entrepreneurs will be able to access banking systems for receiving financial support for starting their enterprises, including support from MUDRA bank.
• It will help create an innovative ecosystem, accelerating economic and social gains at the community level.
• A huge number of employment opportunities can be generated because of rural entrepreneurship for the people who are living in rural or remote geographies.
• This pragmatic intervention will provide knowledge, advisory and financial support to the public and will help create village-level community cadre.

Source:PIB