Shri Kalraj Mishra, Hon’ble Minister of Micro, Small & Medium Enterprises today launched ASPIRE Fund, a Fund of Funds with a corpus of `60 crore, to be administered by Small Industries Development Bank of India. The ASPIRE Fund is part of a major initiative by the Ministry of MSME, Government of India under “A Scheme for Promotion of Innovation and Rural Entrepreneurship and agro industry(ASPIRE)” with an aggregate corpus of `200 crore for promoting innovation and rural entrepreneurship through rural livelihood business incubators, technology business incubators and fund of funds. Under the Scheme, a fund of fund with a corpus of `60 crore has been assigned to SIDBI for supporting various Venture Capital Funds registered with SEBI for investing in startups in the agro and rural space.