Rourkela: The Central government’s Ministry of Micro, Small and Medium Enterprises has awarded a grant of Rs 1 crore to the Foundation for Technology and Business Incubation (FTBI), NIT Rourkela for the establishment of The Livelihood Business Incubation Centre (LBI) under the ASPIRE scheme.
LBI will be set up at FTBl, NITR to foster the holistic development of young entrepreneurs in social and rural sectors of the region, according to a press release.
The Livelihood Business Incubator (LBI) will be an interface to mobilise young talent, educate and train them in vocational and scientific applications of the vocation. This is aimed at generating livelihood synergistically with the demands of the economy of the place, with promotion and adoption of social business methods.
The proposed LBI will focus on Science, technology and innovation (STI) not only for the livelihood development of local communities, improvement of the economic state of the region, generating economic benefits, but also for anticipating and responding to societal needs of the region, the release added.
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