Skilled Youth Startup Scheme

DETAILS 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 Financial support through bank loans with back-ended subsidy of 35% or 50%. Maximum admissible project cost varies by category, up to ₹20 lakhs. Mandatory Entrepreneur Development Training (3 days) provided before loan disbursement. Preference for Persons with Disabilities (PwDs) with 50% subsidy eligibility. 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: S. No. Category Maximum Project cost Admissible 1 Animal Husbandry, Agriculture & Allied activities-Dairy, Poultry and Piggery Dairy:5 lakhs, Poultry:3 lakhs, Piggery:5 lakhs 2 Organic Farming - Green house 3 lakhs 3 Food Processing and other manufacturing sectors 10 lakhs 4 Wood Handicraft & Cottage Industries 10 lakhs 5 Metal Fabrication works 10 lakhs 6 Tourism -Paragliding, Mountain cycling, etc. 10 lakhs 7 Rural Homestays 15 lakhs 8 IT & IT enabled services 10 lakhs 8 IT & IT enabled services 10 lakhs 9 Cutting and tailoring for Cooperative registered societies 20 lakhs 10 Bakery & Restaurants ** 15 lakhs 11 Beauty Parlours/Boutique/Grocery/Manihari & other Retail shops 10 lakhs 10 lakhs 12 Coaching Institute/Training Centre 5 lakhs 13 Herbal Products Industry including Nurseries 10 lakhs 10 lakhs 14 Paper bags/Paper plates 10 lakhs 10 lakhs 15 Bamboo based Industry (Cane & Bamboo) 10 lakhs 10 lakhs 16 Automobile Workshop Garage/Car spa 10 lakhs 10 lakhs 17 Diagnostic Centres 20 lakhs 20 lakhs 18 Film Industry/Film Auditorium (Minisize) excluding construction 20 lakhs 19 19 Any Other Project which the Committee deems to be fit for funding Nominal funding ELIGIBILITY Applicant must possess a Certificate of Identification (COI) or Sikkim Subject Certificate / Residential Certificate (for urban areas). Applicant must be unemployed and have completed at least Class V from a recognized school. For technical, manufacturing, or service-based projects, the applicant should have a valid certificate from a recognized technical institute. Applicant must be between 18 to 45 years of age at the time of application. Only one member per family is eligible to apply under the scheme. Applicant's family income must not exceed ₹8 lakhs per annum. For married applicants: family includes self, spouse, and children. For unmarried applicants: family includes parents and unmarried siblings. If the applicant is a child of a Government employee, only children of Group ‘C’ or ‘D’ employees are eligible. Applicant must contribute 5–15% of the project cost, as per bank norms. Applicant must not be a defaulter with any nationalized bank, financial institution, or co-operative bank. Applicant must not have availed subsidy under CMSS or PMEGP schemes earlier. Applicant must possess a valid trade license for the proposed business or project. Applicants under the Persons with Disabilities (PWD) category will be given priority and are eligible for a 50% loan subsidy. Exclusions Individuals who have already availed subsidy under CMSS or PMEGP schemes. Applicants who are bank defaulters. Government employees’ children are only eligible if the parent is in Group ‘C’ or ‘D’ service.