Telangana to set up institutions for entrepreneurship development

Under the National Scheme on Entrepreneurship Development, the government of Telangana will set up various institutions for entrepreneurship development. 30 institutes of higher learning, 5 schools, 15 industrial training institutes and 2 entrepreneurship development centres will be set up under this scheme.

This new scheme has been developed by the Union Ministry of Skill Development to create an enabling ecosystem for entrepreneurship development through entrepreneurship education and training, state Industries Secretary Arvind Kumar said.

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Sepficiations of the entrepreneurship development scheme:

• Scheme targets to cover 7.10 lakh students in the country through various project institutes such as institutes of higher learning, schools, industrial training institutes, entrepreneurship development centres and skill development centres in a span of five years (2016-17 to 2020-21)
• project institutes which have 2,500 sqft space or higher and can allocate at least two faculty/facilitators in the first year and an additional faculty/facilitator from second year onwards are eligible for selection
• The institutes should also have broadband connectivity of at least 100 MBPS and possess necessary audio visual equipment and computers and should enroll on an average minimum of 250 students under the project every year during the first four years
• Honorarium of Rs 5,000 per month would be provided for each faculty facilitator and towards costs related to faculty training

The last date for receipt of applications for empanelment of project institutes is September 26, 2016.

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The Centre will provide financial assistance to the selected institutions to set up infrastructure for delivering the programmes. The institutions will receive a grant of Rs nine lakh for a period of five years plus additional rupees three lakh for infrastructure set up in government institutions.