From Our Special Correspondent
Daijiworld Media Network

Bengaluru, Mar 8: Karnataka will get six incubation centres as part of the effort to encourage individuals to establish small and medium industrial enterprises.

This was announced by Union Minister for Micro, Small and Medium Enterprises (MSME) Kalraj Mishra while addressing a seminar on ‘Matching minds aspiring change,’ organised by confederation of women entrepreneurs in Bengaluru on Sunday.

The incubation centers would provide support functions, mentorship and resources to individual entrepreneurs or entrepreneurial setups, the minister said.

The State has four incubation centers at present.

The new incubation centers would be opened in cities where there is more industrial activities, he said.

Mishra Incubation Centres would also enable 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.

The minister said Rs 20,000 crore had been set aside for MSME in the Union budget for 2015-16.

Of the total allocation for MSME Sector in the current year’s budget, Rs 3,000 crore would be utilised for granting credit for entrepreneurs, he said.