Entrepreneurial subsidy upto 40 lakhs

The department of Industries and Commerce declared revised subsidy for new MSMEs to encourage the entry of young talented entrepreneurs to the arena of Industry. The new project will be given up to 15 % subsidy of the fixed capital Investment.

These who seek assistance of financial institution as loan will be given subsidy at 50% (maximum up to 3 lakhs). As per the new entrepreneurial assistance, the general category gets 15% subsidy (upto 30 lakhs) and the SC, ST, Women and young entrepreneurs get 25% subsidy (upto 40 lakhs). The new ventures from backward districts viz, Kazargod, Pathanamthitta, Wayanad, Iduki will get on additional assistance up to 10% (maximum 10 lakhs). The same package will be given to those who acquired technical knowhow from recognised institution by State and Central Government. All the Capital Investment like land, buildings, machinery, power generating system are eligible for the scheme.

 

VYAPAR 2022

In order to spring up the morale of Micro Small Medium Entrepreneurs of the State the Department of Industry and Commerce is organizing an international business meet titled 'VYAPAAR 2022' from 16th to 18th June 2022 at Jawaharlal Nehru International Stadium, Kaloor, Kochi. Around 300 MSME units engaged in the fiield of food processing, coir, rubber, ayurveda, electrical and electronics, handloom and garments, handicrafts are participating in the meet.

Arrangements have already been made to enter business agreements with the buyers of other states and foreign countries to widen the market of our MSME products. For further information visit  www.keralabusinessmeet.org

ED Clubs for vibrant youth

The Department is implementing ED clubs in educational institutions with a vision to promote entrepreneurship among talented youth. Higher secondary schools, Technical schools, ITI, Polytechnics, Arts and Science colleges are the target of this novel scheme. At least 25 members must be enrolled in each club which will be headed by the Principal of the Institution. A faculty member will be the co-ordinator. Rs. 20,000/- will be given to each club for its smooth functioning every year. The amount transfers to the joint account of the co-ordinator and head of the institution concerned. There is a prescribed application form which is available from the District Industries Centre or other related offices to organize ED clubs. The duly filled and signed forms to be submitted to these offices. Presently around 800 ED clubs are smoothly functioning in the State.

 

Year of Entrepreneurship, the era of vitality

The year 2022-23 has been declared as entrepreneurship year with a view to intensify integrated industrial development of Kerala. During this period it is aimed to moot One lakh new ventures in the State. In order to assist the new entrepreneurs, MBA and BTech personnels have been appointed in all Local Bodies as interns. In each taluk resource persons have also been deputed to guide the entrepreneurs. Moreover, State and District Level Committees have already been constituted to hear and solve the problems of new organizers.

As a part of this novel programme, public awareness workshops are being conducted in all the Local Bodies from first of May 2022. By the end of this month it is expected to conduct 700 workshops all over the State in which 50000 beneficiaries may actively attend. The interested participants will be given loan, license, assistance and subsidy allotment after the workshops. The scheme, with the active co-operation of all the departments concerned, is expected to create vigour and vitality among the entrepreneurs in the State.

 

Private Industrial Estate Scheme 2022- Guidelines declared

As per the scheme any partnership firm, company, co-operative or charitable society can apply for private Industrial estate venture. Minimum 10 acres of land is required out of which 5 acres envisaged from Standard Design Factory (SDF). The land enlisted in green belt, forest, ecologically weak should not be taken for consideration. Government will extend an assistance of Rs. 30 lakhs per acre subject to a maximum of Rs. 3 crores as reimbursement towards building infrastructure facilities such as electricity, water, road, drainage etc. The application may submit in Form No. 1 before the Director of Industries and Commerce and the same will be forwarded to the committee of Government secretaries of related departments. The committee will take a decision in this regard within 30 days. The approval of the project is subjected to the realization of prevailing acts and rules, circulars and orders concerned.