Entrepreneurship Development Meet

Posted by on Feb 14, 2011 in | 35 comments

Entrepreneurship Development Training & Mentoring to Entrepreneurship Development Cells in Universities & Colleges and other individuals:

Entrepreneurship has been recognized as the panacea for creating mass employment. Government of India and State Governments offer several incentives, subsidies and loans under Prime Minister Employment Generation Programme (PMEGP) and Credit Guarantee Fund Scheme (CGFT) to encourage youth, women and everyone to achieve self-employment and create further employment opportunities. PMEGP & CGF schemes provide security / collateral free loans up to INR 100.00 lakhs. We can support the EDC wings of Universities and Colleges to rightly enlighten the opportunities to the college students so that it will encourage more innovations from the campus.

We provide entrepreneurship training and mentoring focusing on:

  • Young entrepreneurs – the Creative force in employment generation
  • Opportunities in various industry sectors
  • Role of Government in entrepreneurship development – State & Central Schemes
  • Detailed processes in setting up a new business
  • Banks – the driving force in entrepreneurship development
  • Project Finance by Banks and VC firms
  • Questions & Answers

The session inputs will benefit:

  • Individuals who are looking to setup their own business.
  • First generation entrepreneurs who would like to know about the financial, marketing and technology support available from Government and Banks for expansion and achieving sustenance.
  • Entrepreneurs who are in the process of expanding their existing business.
  • Consultants who guide and support startup ventures.

The need to take entrepreneurship:

There is every need for taking up entrepreneurship as a revolution.  Next to Indian farmers, the small entrepreneurs are the major backbone to Indian economy.  Self-employment generates parallel employment opportunities.  Entrepreneurship is like a root sprout and everyone should nurture it for its un-prohibited growth

Benefits to the participants of our training:

  • Enlightens the participants on the important opportunities in various industry sectors.
  • Provides the participants first hand information on the lending institution’s approach in supporting new ventures.
  • Provides first hand information from the policy regulators on the State and Central government schemes for MSE sector.
  • Provides interactive platform where the participants could seek clarifications on various issues related to start-up ventures.
  • Enables participants register their interest towards receiving later support in their pursuit.

http://www.blog.epmworld.in

 

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Prime Minister Employment Generation Program

Posted by on Jan 7, 2011 in EPM World, Government Schemes | 34 comments

The following are the details of financial assistance available under PMEGP.

Industry Eligible loan Promoters equity Subsidy Loan given by Security
Manufacturing INR 25.00 lakhs General Category:

10%

Special (including SC / ST /
OBC /Minorities/Women, Exservicemen,
Physically
handicapped, NER, Hill and
Border areas etc:

5%

General Category

Urban : 15%

Rural: 25%

Special (including SC / ST /
OBC /Minorities/Women, Exservicemen,
Physically
handicapped, NER, Hill and
Border areas etc.

Urban : 25%

Rural: 35%

Any Public Sector Bank or Private Scheduled Bank at their discretion based on the project viability. Nil up to INR 5.00 lakhs

Covered under CGF above INR 5.00 lakh and up to INR 1.00 crore.

Under CGF no security required up to INR 1.00 crore.

Banks at time might demand depending upon the merits and demerits of the project.

Service INR 10.00 lakhs

Required enclosures along with application:

  1. Project report of the activity
  2. Attested copy of OBC / ST / Minority / PHC / Ex-servicemen certificate.
  3. Attested copy of the educational qualification, experience, training certificate if any.
  4. Attested copy of EDP training [for a minimum period of 2 weeks] certificate, if any.
  5. Affidavit in bond paper costing Rs. 15/-
  6. Consent letter from Bank, if available.
  7. No objection from Gram Panchayat, if applicable

The procedure:

  • All the loan applications received under PMEGP scheme will be  placed before the District Level Task Force Committee [DTFC] under the Chairmanship of the Deputy Commissioner of the concerned District from time to time.
  • The DTFC is conducts personal interview of the applicants and recommends the deserving cases on the basis of the viability of the project to the concerned banks.
  • The recommended cases will be sponsored to the concerned banks for consideration of finance under the captioned scheme.
  • The bank will sanction 90% of the project cost in case of General category and 95% of the project cost in case of Special category of beneficiary / institution and recommend their cases to the KVIB for arranging 2 weeks duration compulsory EDP training.
  • KVIB will arrange EDP training. Once the beneficiary undergone EDP training, the bank will disburse full amount suitably for setting up of project.
  • Once the 1st installment of bank finance is released, the bank will submit margin money claim in the prescribed proforma [which is 25% of the project cost in case of General category and 35% of the project cost in case of Special category] to the designated Nodal Banks.
  • Once the margin money is released in favor of the loanee, it should be kept in the term deposit receipt of 3 years at branch level in the name of the beneficiary / institution. During this period, no interest will be paid on the TDR and no interest will be charged on loan to the corresponding amount of the TDR.
  • The margin money component [back ended subsidy] will be credited to the borrowers loan account after 3 years on the basis of 100% Physical Verification Report of the said unit.
  • 100% Physical Verification of the actual establishment and working status of the units, setup under PMEGP will be done by KVIC.

May also check for Credit Guarantee Fund scheme details in the other posting.

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