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  • Micro, Small and Medium Enterprises Department: New Entrepreneur-cum-Enterprise Development Scheme (NEEDS)

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    The NEEDS scheme provides entrepreneur training, assistance preparing business plans, and help securing financing to new manufacturing and service ventures started by educated first-generation entrepreneurs aged 21-35. Projects must cost between Rs. 5-100 lakhs, with the state government providing 25% subsidy up to Rs. 25 lakhs. 10% promoter contribution is required for general entrepreneurs and 5% for special categories. At least 50% of beneficiaries must be women. Entrepreneurship training is provided along with a stipend. Only new projects are eligible, excluding those who received aid under other schemes.

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    The NEEDS scheme provides entrepreneur training, assistance preparing business plans, and help securing financing to new manufacturing and service ventures started by educated first-generation entrepreneurs aged 21-35. Projects must cost between Rs. 5-100 lakhs, with the state government providing 25% subsidy up to Rs. 25 lakhs. 10% promoter contribution is required for general entrepreneurs and 5% for special categories. At least 50% of beneficiaries must be women. Entrepreneurship training is provided along with a stipend. Only new projects are eligible, excluding those who received aid under other schemes.

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    25 views2 pages

    Micro, Small and Medium Enterprises Department: New Entrepreneur-cum-Enterprise Development Scheme (NEEDS)

    Uploaded by

    Bharath Gowtham
    The NEEDS scheme provides entrepreneur training, assistance preparing business plans, and help securing financing to new manufacturing and service ventures started by educated first-generation entrepreneurs aged 21-35. Projects must cost between Rs. 5-100 lakhs, with the state government providing 25% subsidy up to Rs. 25 lakhs. 10% promoter contribution is required for general entrepreneurs and 5% for special categories. At least 50% of beneficiaries must be women. Entrepreneurship training is provided along with a stipend. Only new projects are eligible, excluding those who received aid under other schemes.

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    MICRO, SMALL AND MEDIUM ENTERPRISES DEPARTMENT

    New Entrepreneur-cum-Enterprise Development Scheme(NEEDS) Under this scheme, educated youth will be given entrepreneur training, assisted to prepare their business plans and helped to tie up with financial institutions, to set up new manufacturing and service ventures. The beneficiary must be a First Generation Entrepreneur. Project Cost : Minimum Project cost will be above Rs.5.00 Lakhs and the maximum Project Cost will be Rs.1.00 Crore. 25% of the Project Cost not exceeding Rs.25.00 lakhs with 3% interest subvention to be provided by State Government. For projects costing more than Rs. 1.00 Crore, subsidy component will be restricted to Rs. 25.00 lakhs. Minimum 21 years Maximum 35 years for General Category 45 years for Special Category(SC/ST/BC/MBC/Ex-servicemen/ Minorities/Transgenders/Differently abled persons) Degree, Diploma, ITI / Vocational training from Recognised Institutions

    Subsidy

    Age

    Educational Qualification :

    Promoters Contribution : Reservation :

    10% of the project cost for General Category entrepreneurs and 5% of the project cost for Special Category Entrepreneurs. SC : 18% ST : 1% Differently abled : 3% Under this scheme, at least 50% of the beneficiaries will be women with priority accorded to destitute women subject to the condition that they possess the required qualification. (In case the required number of candidates are not available to fill the reservation under SC/ST/ Differently abled candidates, the General Managers of District Industries Centres / Regional Joint Director, Chennai may consider other categories of eligible candidates) There will be no income ceiling for assistance setting up of units under this scheme.

    Income ceiling:

    Partnership : Training :

    Proprietary & Partnership concerns are eligible for assistance Entrepreneurship Development Training (EDP) training will be given for 1 month with stipend.

    Other conditions: Assistance under the Scheme is available only for NEW Projects. Entrepreneurs who have already availed subsidy linked loans under other State Government / Government of India schemes such as Prime Minister Rojgar Yojana (PMRY), Rural Employment Generation Programme (REGP),Prime Ministers Employment Generation Programme (PMEGP), Unemployed Youth Employment Generation Programme (UYEGP), TamilNadu Adi Dravidar Housing and Development Corporation Limited (TAHDCO) and Self help group will not be eligible for assistance under NEEDS. The applicant should not be a defaulter to any Commercial Bank/ Tamil Nadu Industrial Investment Corporation Limited (TIIC)

    PRINCIPAL SECRETARY / INDUSTRIES COMMISSIONER AND DIRECTOR OF INDUSTRIES AND COMMERCE

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