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Skilled Youth Startup Scheme

Sikkim Skilled Youth Startup Scheme was launched in 2020 and is implemented by the Department of Commerce & Industries which aims at assisting the educated unemployed youth in setting up a myriad of enterprises through loans with back-ended financial subsidy assistance.

Start date15 Aug 2020

Last verifiedToday

Official Source ↗

About This Scheme

The issue of employment creation has been a matter of great concern since long in Sikkim. The Government of Sikkim having pro-people attitude and the vision to reduce unemployment and create adequate self employment opportunities in the long run has formulated the Skilled Youth Start Up Scheme. The Scheme is intended to generate equitable entrepreneurial opportunities in rural as well as urban areas of the State, particularly among the educated unemployed youth to become self employed by setting up Manufacturing/Service/Business/Cooperative/Agriculture & allied activities by availing loan (category wise) with back ended subsidy assistance from the State Government @ 50% for BPL and @ 35% for rest on financially viable/ bankable Projects cost. > Objectives: 1. To promote entrepreneurial qualities amongst the local unemployed youth and encourage them for setting up any commercially viable/ bankable business venture in any sector including Agriculture / Horticulture / Food Processing / Animal Husbandry / Handloom & Handicrafts / Retail / Tourism / Services / Manufacturing etc. in the State in tune with the State Government policies. 2. To generate equitable entrepreneurial opportunities in rural as well as urban areas of the State through the setting up of new self-employment ventures/projects by providing one-time non-refundable financial assistance of 50% / 35% with back-ended subsidy on project approval by the Bank/ PSU financial institution.

Benefits

1. Support for a wide range of sectors including:

Dairy, poultry, piggery, food processing.

Wood and bamboo crafts.

Homestays and tourism.

IT services, tailoring, coaching centers.

Automobile workshops and diagnostic centers.

> Activities covered and maximum project cost:

1. Financial support through bank loans with back-ended subsidy of 35% or 50%.

₹20.0 L

1. Maximum admissible project cost varies by category, up to ₹20 lakhs.

1. Mandatory Entrepreneur Development Training (3 days) provided before loan disbursement.

1. Preference for Persons with Disabilities (PwDs) with 50% subsidy eligibility.

S. No.CategoryMaximum Project cost Admissible1Animal Husbandry, Agriculture &amp;amp; Allied activities-Dairy, Poultry and PiggeryDairy:5 lakhs, Poultry:3 lakhs, Piggery:5 lakhs2Organic Farming - Green house 3 lakhs3Food Processing and other manufacturing sectors10 lakhs4Wood Handicraft &amp;amp; Cottage Industries 10 lakhs5Metal Fabrication works 10 lakhs6Tourism -Paragliding, Mountain cycling, etc.10 lakhs7Rural Homestays 15 lakhs 8 IT &amp;amp; IT enabled services10 lakhs8IT &amp;amp; IT enabled services10 lakhs9Cutting and tailoring for Cooperative registered societies20 lakhs10Bakery &amp;amp; Restaurants **15 lakhs11Beauty Parlours/Boutique/Grocery/Manihari &amp;amp; other Retail shops 10 lakhs10 lakhs12Coaching Institute/Training Centre5 lakhs13Herbal Products Industry including Nurseries 10 lakhs10 lakhs14Paper bags/Paper plates 10 lakhs10 lakhs15Bamboo based Industry (Cane &amp;amp; Bamboo) 10 lakhs10 lakhs16Automobile Workshop Garage/Car spa 10 lakhs10 lakhs17Diagnostic Centres 20 lakhs20 lakhs18Film Industry/Film Auditorium (Minisize) excluding construction20 lakhs1919 Any Other Project which the Committee deems to be fit for funding Nominal funding

Eligibility

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

Required Documents

✦
Two recent passport-sized photographs.
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Sikkim Subject Certificate/COI/Residential Certificate.
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Educational certificates and mark sheets.
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Birth Certificate or Panchayat certification.
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Project Report verified by the concerned Line Department (2 copies).
✦
Voter ID card (as address proof).
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Unemployment Card from respective BAC.
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Land lease agreement or Land Parcha, if applicable.
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Relevant trade license or permit at the time of loan sanction.
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BPL certificate from DESME.
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Income certificate from BDO/SDM.
✦
NOC from SABCO/SIDICO.

✦ Required ◦ Optional

How to Apply

IIn-person

Apply here ↗

Quick Info

Level: State Government
Max benefit: ₹20.0 L
Launched: 15 Aug 2020