Sikkim Skilled Youth Startup Scheme:- In this plan, the state government will help unemployed people get loans so they can start businesses that create jobs. The new Sikkim Skilled Youth Startup Scheme aims to help young people in both rural and urban parts of the state start their businesses. In this article, we’ll tell you how to apply, how to get help as a subsidy on loans, and also the general information about the scheme. We will shed some light on the benefits and eligibility of the scheme as well as on the scheme.
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Sikkim Skilled Youth Startup Scheme 2023
The purpose of the Chief Minister’s Startup Scheme, which was initiated on the 15th of August 2017, is to encourage the local youth who are currently without employment. These will include those who have dropped out of school, to establish new business ventures and opportunities for self-employment in rural and urban areas of the state. In the industrial and service industries, such as agriculture, horticulture, food processing, animal husbandry, handicrafts, etc., it plans to launch new businesses known as startups. The Sikkim Skilled Youth Startup Scheme 2023’s major goal is to give young people new possibilities for a living so they may become independent.
The program allows a sum equal to 25 percent of the total cost of the project to be allocated as a financial contribution support component. This aid will be for financially feasible and bankable projects undertaken by businesses requiring a total investment of up to twenty lakh rupees.
Starter businesses in the industry or service sectors, such as agricultural, animal husbandry, handloom, etc., are eligible under the program with a maximum project cost of Rs. 20,000 lakhs. The front-ended organizer’s financial support for a bankable development that has been accepted by any PSU banking institution or PSU bank is admissible financial assistance in the amount of 25% of the approved bankable project cost.
Sikkim Skilled Youth Startup Scheme Objectives
Objectives can be summed up in points for the current scheme
- To boost entrepreneurial spirit among local unemployed youth and school dropouts of the State.
- Influence such eligible students of the scheme to set up commercially financial startup ventures in any sector including agriculture/ horticulture/ food processing/ animal husbandry etc. in the state abiding by Government policies.
- To instill self-confidence in local students by providing an enabling atmosphere and early financial handholding for their future socio-economic success.
- To generate equitable entrepreneurial opportunities in rural and urban areas of the state.
Sikkim Skilled Youth Startup Scheme Points
- Starting initiatives in the manufacturing or service sector, encompassing agriculture/horticulture/ handicrafts, etc., are eligible under the plan.
- 25% of the authorized financially successful project cost in front-ended organizer’s economic support for any PSU financial institution/PSU bank-approved bankable project.
- Non-manufacturing sector initiatives, such as visitor taxi operation initiatives, that are ineligible for central subsidy under the credit-linked credit sector subsidy scheme due to project cost constraints, non-coverage of the activity, etc. are eligible for promotion’s contribution financial assistance under CMSS amounting to 35% of the approved bankable project cost.
- For non-manufacturing projects, the promoter’s CMSS contribution is 25% of the authorized bankable project cost.
- Any industry/business involved in the production/manufacturing/sale of Cigar/ Cigarette/ Gutka, etc. using tobacco as raw materials are not allowed in CMSS
- Manufacturing of Polythene carry bags with a width of less than 20 microns, as well as manufacturing of recycling plastic carrying bags or containers prohibited in the jurisdiction are not allowed in CMSS.
Sikkim Skilled Youth Startup Scheme Eligibility
- The applicant must be a genuine local teenager who has a Certificate of Identification or a Sikkim Subject Certificate/ Certificate of Identification issued to the applicant’s parents.
- The candidate must be jobless.
- The candidate must have a fifth-grade education from an accredited institution.
- Only one family member is eligible to get benefits from the program.
- The candidate must be between 15 and 40 years old on the application date.
- In this program, priority is given to jobless local kids from BPL households or rural communities.
- The candidate must have a current commercial driving license to participate in some service sector activities.
- The applicant must hold a current trade license issued by an appropriate government to start a manihari or grocery store.
- The candidate must have completed a certificate program lasting at least three months from a professional institute to open a new boutique shop or beauty salon.
Sikkim Skilled Youth Startup Scheme Documents
The documents which are needed for the Sikkim Skilled Youth Startup Scheme are:
- Certificate of Identification
- Mark sheet of Board/ University.
- DOB certificate
- Two copies of the Project Report
- DESME issues BPLs.
- Address Proof: Voter ID.
- Aadhaar Card
- Valid employment card that is issued by the concerned BAC.
Sikkim Skilled Youth Startup Scheme Form
To apply for the scheme, you must submit a form to the concerned authorities. The form will be available to you in:
- East and North Sikkim eligible candidates may apply at the DIC (E/N) in Gangtok.
- South and West Sikkim aspirants may apply to the DIC (S/W) in Jorethang.
- All candidates must send their fully completed application forms, along with a full project report and other necessary papers, to the General Manager in the offices discussed above.