Sikkim Govt. launches scheme to fund entrepreneurs

GANGTOK, June 19: The Government of Sikkim has launched an ambitious scheme to empower unemployed youth and aspiring entrepreneurs by providing direct financial support and handholding to establish business ventures and enterprises.

The scheme – Mukhyamantri Yuva Udyamsheelta Vikas Yojana, notified by the Commerce and Industries department on 18 June, would provide seed money assistance of upto Rs.5 Lakh to each aspiring entrepreneur to start their venture in manufacturing and service sectors.

The Yojana aligns with the government’s vision of ‘One Family, One Entrepreneur,’ by supporting aspiring entrepreneurs with unique business skills and ideas to transform their dreams into reality.

Financial assistance under the scheme would be made available to local eligible entrepreneurs aged 21 years and above, having a valid trade license. Preference would be given to differently abled, orphaned, Below Poverty Line (BPL) and Economically Weaker Section (EWS) applicants from rural households and those having innovative and new business ideas. The quantum of seed money to the entrepreneur and required budget would be decided based on the performance and success of the scheme by the state government.

The Chief Minister’s Office has been designated as the nodal agency for implementation and operation of the scheme, it was informed.