Educated unemployed youth with a knack for enterprise in Pudukottai district can now fulfil their dreams — courtesy a new State government scheme introduced in the district. The New Entrepreneur-cum-Enterprises Development scheme (NEEDS) would support first-generation entrepreneurs to explore service and manufacturing ventures, said a release issued by the Department of Industries and Commerce, Pudukottai.

Under the scheme, selected candidates would receive entrepreneurship training, assistance in preparing business plans, links with major industrial clients, and training in establishing tie-ups with financial institutions, said the release.

Candidates would get help in securing loans from banks or Tamil Nadu Industrial Investment Corporation (TIIC) for projects estimated at Rs. 5 lakh to Rs.1 crore with a capital subsidy of 25 per cent of the project cost and a soft loan with 3 per cent interest subvention.

Twenty-seven candidates would be identified, and the subsidy component would be Rs. 2.30 crore for 2013-2014. Men and women above 21 years of age with a minimum qualification of a degree or diploma or ITI or vocation training from recognised institutes were eligible. The age limit was 35 for all, but extended to 45 for women, SC/ST, MBC, BC, minorities, ex-servicemen, transgenders, and differently abled persons.

For details, contact GM, DIC, collectorate at 04322- 221794, 04322-221341, or 94440 37244.

  • Capital subsidy of 25 per cent of the project cost

  • No income ceiling for availing assistance