Twenty five prospective first-generation entrepreneurs chosen from all over Tamil Nadu for financial support under the State Government's New Entrepreneur–cum-Enterprise Development Scheme (NEEDS) will be undergoing a month-long preparatory training at the National Institute of Technology - Tiruchi (NITT).
The 25 youths, including six women, with a minimum of degree qualification are looking forward to taking a plunge into entrepreneurship in desk top printing, power laundry, ready-made garment production, manufacture of fly ash bricks, ice cream manufacture, operating cab service, and making arecanut plates after the orientation to be carried out by the Centre for Entrepreneurship Development and Incubation (CEDI) at the NITT. The youths have already been assured of terms loans from nationalised banks and Tamil Nadu Industrial Investment Corporation (TIIC) with capital subsidy at 25% of the project cost not exceeding ₹25 lakh and soft loans with 3% interest subvention.
The relevance of knowledge generated in higher educational institutions is in its conversion into enterprises, M. M. M. Najib, Vice-Chancellor, South Eastern University of Sri Lanka, said, addressing the inaugural session on Monday.
Presiding over, NITT Director Mini Shaji Thomas exuded hope that the technological infrastructure available in the institute will be gainful for the prospective entrepreneurs, and sought their interaction with the students towards inculcating the culture of entrepreneurship in the campus.
Manikandan, Deputy Director, Entrepreneurship Development Institute of India, Government of Tamil Nadu, said the EDII had trained and assisted 2,300 prospective entrepreneurs to start enterprises over the last five years.
G. Kannabiran, Professor and Program Coordinator, said the program would also include a week-long hands-on exposure in enterprises in the district.
