Tamil Nadu New Entrepreneur cum Enterprise Development Scheme

Introduction

• New Entrepreneur cum Enterprise Development Scheme is the financial support scheme of Government of Tamil Nadu.
• The main objective behind launching this scheme is to encourage and support the youth of Tamil Nadu who wants to become an Entrepreneur.
• This scheme is called NEEDS in short.
• New Entrepreneur cum Enterprise Development Scheme is basically for First Generation Entrepreneurs.
• NEEDS will help the young generation youth to built a business without thinking about the financial burden and will create employment opportunities for others.
• In New Entrepreneur cum Enterprise Development Scheme, Tamil Nadu Government will provide capital subsidy to new entrepreneurs for setting up their own income generation business.
• Capital Subsidy of 25% of Total Project Cost or a Maximum of Rs. 75,00,000/- will be provided to Eligible Entrepreneur under New Entrepreneur cum Enterprise Development Scheme.
• Entrepreneur has to contribute the below mentioned percentage of project cost on their own :-
  • For General Category :- 10% of Project Cost.
  • For Special Category :- 5% of Project Cost.
• Remaining Project Cost Amount will be provided to Entrepreneur as a bank loan.
• Collateral will be required as per the conditions of bank.
• There is no annual income ceiling in New Entrepreneur cum Enterprise Development Scheme.
• An Additional 10% on Capital Subsidy will be provided to below mentioned category of Entrepreneur :-
  • Schedule Caste.
  • Schedule Tribe.
  • Disabled.
• Eligible First Generation Entrepreneur of Tamil Nadu can apply for capital subsidy by filling the Online Application Form of Tamil Nadu New Entrepreneur cum Enterprise Development Scheme.

Benefits of Scheme

• The following benefits will be provided to New Entrepreneurship/ Applicant under Tamil Nadu Government's New Entrepreneur cum Enterprise Development Scheme (NEEDS) :-

  Capital Subsidy of 25% of Project Cost or Maximum of Rs. 75,00,000/- will be provided to New Entrepreneurs. Additional 10% on Capital Subsidy will be provided to SC/ ST and Disable Applicant. Bank Loan will be provided on Remaining Cost of Project. 3% Interest Subvention on Bank Loan. New Entrepreneurs can start their business with a Capital of Rs. 10 Lakh to Rs. 5 Crore.

Eligibility Criteria

• Applicant should be a Resident of Tamil Nadu for Not Less than 3 Years.
• Applicant should possess any of the following Minimum Educational Qualification :-
  • 12th Pass.
  • Diploma Holder.
  • ITI Pass.
  • Vocational Training Passed.
• The Age of Applicant should be :-

  Between 21 Years to 35 Years for General Category Entrepreneur. Between 21 Year to 45 Years for below mentioned Special Category Entrepreneur :- Schedule Caste. Schedule Tribe. Minorities. Women. Differently Abled. Backward Class. Transgenders. Ex-Servicemen. Most Backward Class.

• Project Cost of Applicant should be More than Rs. 10 Lakh and Less than Rs. 5 Crore.
• Project Cost Contribution of Applicant should be :-
  • Contribution of 10% of Total Project Cost for General Applicant.
  • Contribution of 5% of Total Project Cost for Special Category Applicant.

Documents Required

• The below mentioned documents is required to avail the benefit of Tamil Nadu New Entrepreneur cum Enterprise Development Scheme :-

  Residence Proof of Tamil Nadu. Education Related Documents. Ration Card. Nativity Certificate. (If there is No Ration Card). Voter Identity Card. Aadhar Card. Passport Size Photograph. Caste Certificate. (If Applicable) Disability Certificate. (If Applicable) Ex-Servicemen Card. (If Applicable) Project Report and Quotation. Affidavit.

How to Apply

• New Entrepreneur can apply for capital subsidy by filling the Online Application Form of Tamil Nadu New Entrepreneur cum Enterprise Development Scheme.
• Tamil Nadu New Entrepreneur cum Enterprise Development Scheme Online Application Form is available on the portal of Micro, Small and Medium Enterprise Department of Government of Tamil Nadu.
• Entrepreneur has to Register themselves first by filling the details like Name, Date of Birth, Aadhar Number, Mobile Number, Email ID and Password.
• After Registration, Login with the Email or Mobile Number and Password.
• Fill the following details in New Entrepreneur cum Enterprise Development Scheme Application Form steps wise :-
  • Personal Details.
  • Contact Details.
  • Education Related Details.
  • Project Details and Quotation.
• Click on Submit Button to Submit the Application Form of New Entrepreneur cum Enterprise Development Scheme.
• Application Form and Documents will be verified by the concerned officials of District Industries Centre.
• Selected Entrepreneur will be called for Interview.
• After Interview, Applications for Capital Subsidy under NEEDS will be sent to bank for sanctioning of loan.
• Entrepreneurship Development Programme Training will be conducted for Selected Entrepreneurs.
• It is mandatory for Selected Entrepreneur to attend the Training of Entrepreneurship Development Programme.
• Loan will disbursed by the bank once applicant submit the Entrepreneurship Development Programme Training Certificate in the bank.
• Applicant will also track their Application Status of New Entrepreneur cum Enterprise Development Scheme Online.

Ineligible Business List under NEEDS

Important Links

• Tamil Nadu New Entrepreneur cum Enterprise Development Scheme Application Form.
• Tamil Nadu New Entrepreneur cum Enterprise Development Scheme Registration.
• Tamil Nadu New Entrepreneur cum Enterprise Development Scheme Login.
• Tamil Nadu New Entrepreneur cum Enterprise Development Scheme Application Status.
• Tamil Nadu New Entrepreneur cum Enterprise Development Scheme Guidelines.

Contact Details

• Tamil Nadu Micro, Small and Medium Enterprises Department Contact Details.