The Kerala governments have brought up a very good and productive plan. Startup Village Entrepreneurship Program (SVEP) has been approved for all the districts across the state. As the name suggests, it will basically work for the advancement of the rural areas and develop the nation. There is an existing State Poverty Eradication Mission’s Kudumbashree program. Under this program, the Kerala government has launched 12 new start-up projects.
All these start-up projects will be an integrated part of the Startup Village Entrepreneurship Program (SVEP) as informed by the Ministry of rural development. The number of entrepreneurs will be increased to a good level. Also, this will increase the employment opportunities as well.
Parakkode block in the southern district of Pathanamthitta and Ernakulam’s Vadavukoda block have already been covered under the implementation process of the startup program.
For the effective implementation and convenience of each block, INR.6.5 Crore has been allocated as said by the officials. These projects work for the upliftment of both new and existing startups. They provide them with financial and technical support which is again a very good initiative.
via Objective of the Startup Village Entrepreneurship Program (SVEP)
- SVEP Scheme aims to uplift as many startups as possible by providing them funds to develop.
- A total of 2,000 startups has been supported under this scheme as stated by the government.
- New start-ups owners who need support for the growth of their purpose are majorly benefited under this scheme. Basically, this program is going to initiate a healthy startup culture in the cities, towns and villages. This culture will make it very easy for people to further initiate and grow their startups.
- The existing companies will also be guided accordingly to their daily base operations. Performance improvement programmes will be conducted by the Kerala government for the same.
- The young generation is full of passion and business strategies. The only help they need is the financial help to grow their startups and achieve what they want to.
- The Kerala government has made sure that every barrier coming in front of the fresh minds is removed.
How would the implementation benefit?
Once the project is successfully implemented, it would add to the status and glory of Kerala. Kerala will then be the first state to implement SVEP project in all its districts. The viability of the entrepreneurial ventures will be checked and evaluated. This will be done especially in the rural areas. The evaluation process ensures that the funds are going in the right hands.
The plan is that Kudumbashree National Resource Organisation will be set up according to the official notification by the government.
Who will take control of the project?
The Union government will provide 60% of the total fund. The new or struggling start-ups are basically going to get a resource hub which is very effective and beneficial. The government is putting maximum efforts for the growth of various businesses but all it needs is effective public support. Young entrepreneurs are being given a golden chance so they should properly think and plan before implementing any business strategy.
A government – partnered funding system was set up by the government itself in June 2017. This fund has the main initiative of bringing investors to various entrepreneur networks. Also, funding and marketing products will also be a big game. The entire process has a direct connection to the development of the state. Intellectual and financial growth will ultimately lead to a better structure of the state.
Conclusion
Startup Village Entrepreneurship Program (SVEP) is a very productive and effective initiative. The growth of a particular state or a nation lies in the worth of its young generation. The industry is growing rapidly and we are surrounded by talented young people eager to showcase their passion to the world. Every day we wake with a news of a unique startup and all it needs is strong funding structure. Providing them with the funds and also checking on their growth becomes another level of the program making it even more effective. Investment and marketing go hand in hand and so we need people who have appropriate knowledge about it in the team to make it successful. Kerala has taken up a big initiative which will add to its growth and development. We hope that the scheme works the way it is planned.