The District Industries Centre (DIC) in Nagapattinam that also has jurisdiction over Mayiladuthurai district is in the process of identifying eligible applicants under the New Entrepreneur Cum Enterprise Development Scheme (NEEDS).
Being backward districts, identifying candidates fulfilling the requirements for NEEDS has been a tough proposition for the department.
The main challenge was in identifying first-generation graduates for the scheme that entails a minimum project cost of ₹10 lakh and a maximum of ₹5 crore for service and manufacturing ventures.
The District Industries Centres are mandated to support the entrepreneurs in identifying viable projects, preparing project reports, obtaining various clearances and licenses, tying up financial support for their ventures through the schemes of the Government and sanctioning of incentives to MSMEs.
"In Nagapattinam and Mayiladuthurai districts, there is scope for accepting any number of applications for Unemployed Youth Employment Generation Program, particularly from the special category applicants including SC/ST, women and ex-servicemen, according to the DIC General Manager Kamalakannan.
Now that the government has tweaked the eligibility for applicants for NEEDs, by specifying Plus Two as minimum qualification, there is a possbility to identify candidates from a larger canvas, Mr. Kamalakannan said.
The specially devised and specially implemented scheme for promoting first entrepreneurial projects of first generation entrepreneurs targets aspirants in the age group of 21 to 35 years in general and for special (women, BC/ MBC/ SC/ST/Ex-Servicemen/transgenders/differently abled) category beneficiaries with age relaxation up to 45 years.
As per the new requirement, Plus Two passed applicants could also avail the utility of the project along with those with degree/ diploma/ ITI and vocational training.
The promoters contribution is 10% for general and five percent for special category. Individual-based capital subsidy has been fixed at 25% of the project cost subject to a maximum of ₹75 lakh.
