National Institute of Entrepreneurship and Small Business Development (NIESBUD) has signed a Memorandum of Understanding (MoU) with the Ministry of Rural Development (MoRD) to build a sustainable model for promoting entrepreneurship at the grassroots by initiating the Start-up Village Entrepreneurship Programme (SVEP). SVEP is a component of the Ministry of Rural Development's Deendayal Antyodaya Yojana- National Rural Livelihoods Mission (DAY-NRLM). It aims to support entrepreneurs in rural areas to establish enterprises in non-agricultural sectors at the village level. This collaboration would help the rural community by enabling them to establish their trades and give complete support till they are stabilised. The pragmatic intervention would provide knowledge, advisory and financial support to the public and help form a village-level community cadre. Rural entrepreneurs will be able to use banking systems to receive financial assistance for beginning their enterprises, including the support of MUDRA bank. To boost the entrepreneurship ecosystem in the villages, tools and integrated ICT approaches would be offered for training and capacity building, along with enterprise advising services. The project's beneficiaries are from the Self-Help Group (SHG) ecosystem of DAY-NRLM, and the initiative not only assists current but also new enterprises. Shri Rajesh Aggarwal, Secretary of Ministry of Skill Development & Entrepreneurship, told the media that the scheme also aims to form an inclusive society by providing equal opportunities to everyone with the required financial support. He told the media that for the past several years, Skill India has been working continuously to close the skill gap by providing entrepreneurs with easy access to capital, offering appropriate mentorship, and enhancing the country's ease of doing business. Image Source Also read: NRIDA to offer smart solutions to improve rural road network