NIESBUD to serve as nodal body for entrepreneurial education

National Institute for Entrepreneurship and Small Business Development (NIESBUD) will serve as a nodal body to impart entrepreneurial education and its assets will be used for training conducted by NSDC and through ITIs, Union Minister Rajiv Pratap Rudy said today.
Addressing a meeting of Society of NIESBUD, Minister of Skill Development and Entrepreneurship (Independent Charge) Rudy said: "We will ensure that assets of NIESBUD are also used in trainings conducted by NSDC and through ITIs. Skill trainings are already being taken care of under the current skill ecosystem but there is a dire need for us to promote upcoming young entrepreneurs".

The Minister further stated that that assets of NIESBUD are also used in trainings conducted by National Skill Development Corporation (NSDC) and through Industrial Training Institutes (ITIs).
"It has also been brought to our notice that it is usually a problem to secure linkages with the banks for many, who want to set up their own entrepreneurial ventures. This is usually because they are unable to appropriately prepare the application to the bank.
"We will ensure that local NSDC training partners will help these youth in the process of applying to the bank for funding their venture. The Recognition of Prior Learning (RPL) certificates will also be a substantial help in building the credibility of the person in front of the bank," Rudy said.

The meeting with the Society of NIESBUD was held for the first time under the guidance of MSDE and after a duration of almost 10 years. NIESBUD was earlier under the Ministry of MSME but as part of convergence and coordination of all skill initiatives in the country, it was recently transferred to Ministry of Skill Development and Entrepreneurship.
The meeting saw the Council consider and approve the Changes in Memorandum and Rules of the Institute and the budget estimates for 2016-17.