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Top 5 Schemes Under Startup India To Benefit Young Entrepreneurs

he Startup India scheme was launched by PM Narendra Modi on 16 January 2016 at Vigyan Bhavan, New Delhi. The Indian Government has introduced this tailor-made scheme especially to encourage and uplift the start up business entities of India. Under this programme, the Government has launched many schemes to help young entrepreneurs. The Startup India scheme was launched by PM Narendra Modi on 16 January 2016 at Vigyan Bhavan, New Delhi. The Indian Government has introduced this tailor-made scheme especially to encourage and uplift the start up business entities of India. Under this programme, the Government has launched many schemes to help young entrepreneurs. Blog: https://www.linkedin.com/pulse/top-5-schemes-under-startup-india-benefit-young-amrita-agarwal/?trackingId=klM5uElHzhMMdql0+cAc3A== Apply for a Loan: https://financebuddha.com/business-loan Facebook :https://www.facebook.com/financebuddha Twitter:https://twitter.com/financebuddha

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Startup Scheme 3: Electronic Development Fund (EDF) Policy This scheme is also directed by Department of Electronics and Information Technology (DeitY) and applicable to IT Services, analytics, enterprise software, technology hardware, Internet of Things, AI, nanotechnology. Startups pursuing innovation in technology sectors like electronics, IT, and nanoelectronics can apply for availing benefits from this scheme. The aim of this scheme is to achieve “Net Zero Imports” by 2020. The EDF will help to get venture funds, angel funds and seed funds.The EDF policy is set up as a “Fund of Funds” to participate in professionally-managed “Daughter Funds” which will provide risk capital to companies which develop new technologies. Startup Scheme 4: Credit Guarantee The credit guarantee scheme is headed by Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE). The scheme is applicable for new and existing Micro and Small Enterprises engaged in manufacturing or service activities. But this facility is not available to retail trade, educational institutions, agriculture, selfhelp groups (SHGs), training institutions, etc. The credit guarantee scheme was launched by the Indian government to strengthen the credit delivery system and facilitate the flow of credit to the Micro and Small Enterprises (MSEs) sector. One can avail both term loans and/or working capital facility up to INR 100 Lakhs per borrowing unit. The guarantee cover provided is up to 75% of the credit facility up to INR 50 Lakhs with a uniform guarantee at 50% for the entire amount if the credit exposure is above INR 50 Lakhs and up to INR 100 Lakhs.

Startup Scheme 5: Coir Udyami Yojana This agriculture related scheme is headed by Coir Board of India. The coir processing unit registered with Coir Board under Coir Industry (Registration) Rules, 2008 are eligible under this scheme. The Coir Udyami Yojana supports setting up of coir units by funding up to 10 lakhs plus one cycle of working capital, which shall not exceed 25% of the project cost. The rate of the interest will be counted on base rate and the repayment has to be done within 7 years.

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