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Needs Subsidy in Tamilnadu: For Young and Educated Entrepreneurs

NEEDS Scheme

The Directorate of Industries and Commerce, Government of Tamil Nadu introduced the New Entrepreneur cum Enterprise Development Schemes (NEEDS). It was devised for young and educated entrepreneurs to start a new venture.

Beneficiaries and Benefits:

  • Educated youth with any Degree, Diploma, ITI / Vocational training from recognized institutions
  • 25% subsidy for the project which cost less than Rs. 25 lakhs
  • Subsidy upto Rs. 25 lakhs for project cost exceeding Rs. 1 crore

Eligibility Criteria:

  • An individual within the age of 21 to 35 years for General category
  • Age between 21 to 45 years for Women, SC/ST/BC/MBC/Minorities, Ex-servicemen, Transgenders, Differently abled persons
  • Resident of Tamil Nadu for more than 3 years

How to Avail:

  • Application must be sent to the District Industries Centre
  • Selected applications will be sent to the banks / TIIC branches for assessment and provisional sanction
  • Eligible entrepreneurs will be asked to attend a one month Entrepreneurship Development Programme (EDP)
  • After the completion of EDP, the entrepreneurs can start availing the loan

For More Information: Click Here

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