MSME Day 2024: The Joint Venture of Government & Startups to Unlock the Potential of MSMEs

Government Initiatives Targeting MSME

MSME Idea Hackathon 3.0 for Women Entrepreneurs: This campaign was spearheaded by the idea of our honorable Prime Minister to empower the women and bring them towards entrepreneurship. He started with the idea of bridging the gap between women innovators and require amount of funding. Through this the government tried to unleash their creativity and develop innovative solutions to address local problems. It also gave a platform to those talented women who were a bit under-confident to showcase their creativity and innovation in front of the world.

The ministry of MSME and Small Industries Development Bank of India (SIDBI) has signed a MoU and created a portal called 'PM Vishwakarma Kaushal Samman' (PMVIKAS) to identify the local artisans who were not previously recognized.

The ministry of MSME and Credit Guarantee Fund Trust for Micro and Small Enterprises has collaborated to contribute guarantee coverage to beneficiaries of this sector.

Zero Defect Zero Effect (ZED): Under the scheme, if a product has no defects and the impact on environment is zero, it can get ZED certificate from MSME. This initiative was taken to encourage the manufacturing of eco-friendly products using sustainable practices.

Aspire Scheme: A scheme for Promotion of Innovation, Rural Industry and Entrepreneurship (ASPIRE) is aimed at setting-up incubator programs for startups and empower the essence of entrepreneurship and to promote innovation in agritech industry.

Affordability of loans under Mudra scheme is helping the young talents from poor families of remote villages or small towns to pursue a sound career in entrepreneurship.

“With just one in five MSMEs being run by women, India is losing out on the globally proven superiority of women-led business”, - Akshay Soni, Managing Director, The/Nudge Accelerator