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Spurring Entrepreneurship Initiative

Spurring Entrepreneurship Initiative is a scheme to provide financial assistance to youth of Union Territory of J&K for establishing their business units with a special focus on high-growth entrepreneurship.

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About This Scheme

Spurring Entrepreneurship Initiative is a scheme under the Mission Youth to provide financial assistance to youth of the Union Territory of Jammu & Kashmir for establishing their business units with a special focus on high-growth entrepreneurship. Objectives: 1. This scheme is based on the theme Youth Enterprise with Innovation (YouWiN)/ Champion for Innovation program for encouraging young entrepreneurs’ especially young women towards innovations in various enterprises. 1. Encourage innovation and job creation through creation of new businesses and expansion of existing businesses. 1. The scheme seeks to foster high-growth entrepreneurship through business plan competitions.

Benefits

1. Financial Assistance provided under this scheme shall be provided by J&K Bank as a start-up loan.

₹2.0 L

1. Assistance under the scheme shall be a minimum ₹2 Lakhs and a maximum of up to ₹20 Lakhs including the interest capitalized during the implementation period shall be provided as assistance.

1. There will be no margin money requirement to be paid by the applicant.

1. Selected applicants shall only have to repay the principal amount provided to them as assistance by Mission Youth.

₹2.0 L

1. Interest component subject to a maximum of ₹2 Lakh and subject to the condition that the applicant doesn’t make any default in repayment of the principal amount shall be paid by Mission Youth.

1. The amount of assistance provided by Mission Youth (MY) has to be compulsorily utilized for the establishment of a Startup only.

1. The bank shall extend the loan facility as per their normal assessment procedure.

Eligibility

Note: You may be eligible based on the information shown. Please verify the official eligibility requirements before applying.

Required Documents

✦
Applicant Photograph Passport Size (PNG).
✦
Aadhaar Card PDF (Both Sides).
✦
Domicile Certificate (PDF).
✦
Matriculation Certificate (PDF).
✦
Unemployment Certificate (PDF).
✦
Proposed Project Proposal (PDF).

✦ Required ◦ Optional

How to Apply

IIn-person

Download the application form from the portal. Fill the required details. Submit the form along with documents in the office of Chief Executive Officer, Mission Youth, Civil Secretariat, Jammu and Kashmir.

Apply here ↗

OOnline

Quick Info

Level: State Government
Max benefit: ₹2.0 L