Union Minister for Micro, Small and Medium Enterprises (MSME) Kalraj Mishra on Sunday said that six more incubation centers will be set up in Karnataka to encourage individuals to set up new small and medium industries.
The State has four incubation centers now. New centers would be opened in cities where there is more industrial activities, he said.
Speaking at a seminar on ‘Matching minds aspiring change’, organised by confederation of women entrepreneurs here on Sunday, Mr. Mishra said incubation centers would provide support functions, mentorship and resources to individual entrepreneurs or entrepreneurial setups.
Incubation Centres enables women entrepreneurs to get all the expert advice and technical guidance that they need to survive for a longer time, unlike most other entrepreneurial ventures that fizzle out within a few months of their launch.
The MSME has made it mandatory for the state-level public sector undertakings to procure at least 20 per cent of their product and service needs from small and medium enterprises (SMEs), in line with the Centre’s policy.
The Union government in its new procurement policy mandates all Central government PSUS to procure 20 per cent of their annual requirement from SMEs, he said.
He said Rs 20,000 crore had been set aside for MSME in the Unoin budget for 2015-16. Of the amount, Rs. 3,000 crore would be utilised for granting credit for entrepreneurs, he said.
Members of various trade bodies and women entrepreneurs attended the meeting.
