New Entrepreneur Cum Enterprise Development Scheme

| Sector: Industries

To assist the first Generation Entrepreneur who are Unemployed educated youth, the Government of Tamil Nadu have formulated a new Scheme called NEW ENTREPRENEUR CUM ENTERPRISE DEVELOPMENT SCHEME (NEEDS) in which educated youth would be given entrepreneurial training in conceiving, planning, initiating and launching of a Manufacturing or Service enterprise successfully.

Eligibility Condition

Education : Degree, Diploma, ITI/Vocational Training from reputed institution (or) higher qualifications.

Age : 21 years and upto 35 years for general category. The upper age limit is relaxed to 45 years for special categories viz., women SC/ST, BC, MBC, Minorities, Transgender and Differently abled person.

Procedure to obtain the benefit/Service

For setting up of Manufacturing or Service enterprise with project cost above Rs. 10.00 lakhs and up to Rs. 500.00 lakhs are eligible. For the beneficiaries under this scheme Capital subsidy of 25% of the project cost not exceeding Rs. 25.00 lakhs and 3% interest subvention to be provided as grant by the State Government. The aspiring entrepreneur may apply in online through the web site address http://www.msmeonline.tn.gov.in/needs/or contact the General Manager, District Industries Centre, SIDCO Industrial Estate, Krishnagiri for further assistance and other details.

Beneficiary:

To assist the first Generation Entrepreneur who are Unemployed educated youth

Benefits:

For setting up of Manufacturing or Service enterprise with project cost above Rs. 10.00 lakhs and up to Rs. 500.00 lakhs are eligible. For the beneficiaries under this scheme Capital subsidy of 25% of the project cost not exceeding Rs. 25.00 lakhs and 3% interest subvention to be provided as grant by the State Government