Assignment No.

8
Title: Compile the information from the government agencies that will help you set up your
business enterprise.

Business Schemes and Organizations in India

1. Stand-Up India Scheme

The Stand-Up India Scheme was launched by the Government of India to promote
entrepreneurship among women, Scheduled Castes (SC), and Scheduled Tribes (ST). This
initiative provides bank loans ranging from Rs. 10 lakh to Rs. 1 crore to set up new enterprises
in the manufacturing, trading, or services sectors.

Key Features:
 Facilitates bank loans for first-time entrepreneurs.

 Encourages economic empowerment among marginalized groups.

 Loans can be used for greenfield projects in the non-farm sector.

Eligibility Criteria:
 Applicants must belong to the SC/ST category or be a woman entrepreneur.

 The enterprise should be involved in manufacturing, services, or trading.

 The borrower should not have defaulted on any previous loans.

Application Process:
 Apply through designated bank branches or via the Stand-Up India portal.

 Submit a business plan, identity proof, and relevant business documentation.

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 2. Startup India Initiative

The Startup India Initiative is a flagship program designed to foster innovation and create a
conducive environment for startups in India. The initiative provides financial aid, tax benefits,
and networking opportunities.
Key Features:

 Tax exemptions for eligible startups for the first three years.

 Self-certification compliance for various labor and environmental laws.

Eligibility Criteria:
 The company must be incorporated as a private limited company or registered as a
partnership or LLP.
 It should not be older than ten years from its incorporation date.

 Must be working on innovation, improvement of products/services, or a scalable

 Register on the Startup India portal.

 Submit necessary documents, including business incorporation certificates and

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 3. National Small Industries Corporation (NSIC)

The National Small Industries Corporation (NSIC) is a government-backed organization that

Key Features:
 Facilitates raw material procurement at competitive prices.

 Provides financial assistance through credit support schemes.

 Offers skill development programs and incubation centers for startups.

Eligibility Criteria:
 Small and medium enterprises (SMEs) registered under the MSME Act.

 Businesses engaged in manufacturing, services, or trading.

Application Process:
 Apply through the NSIC portal or nearest branch office.

 Submit company registration documents, financial statements, and project details.

 Avail credit, marketing, and training services as per business needs.

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 4. Pradhan Mantri Mudra Yojana (PMMY)

The Pradhan Mantri Mudra Yojana (PMMY) was launched by the Government of India to
provide financial assistance to micro and small enterprises through collateral-free loans.

Key Features:
 Offers loans up to Rs. 10 lakh under three categories: Shishu, Kishore, and Tarun.
 Focuses on non-corporate, non-farm small/micro enterprises.
 Promotes financial inclusion and entrepreneurship development.

Eligibility Criteria:
 Micro and small enterprises in manufacturing, trading, or service sectors.

 Must have a viable business plan and meet bank requirements.

 Should not have defaulted on previous loans.

Application Process:
 Approach banks, NBFCs, or Micro Finance Institutions (MFIs) offering Mudra loans.

 Submit required business documents, identity proof, and loan proposal.

 Receive funds based on category and business needs.

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 5. Atal Innovation Mission (AIM)

The Atal Innovation Mission (AIM) is an initiative by NITI Aayog aimed at fostering
innovation and entrepreneurship through startup incubation and skill development.

Key Features:
 Establishes Atal Tinkering Labs (ATLs) in schools to encourage young innovators.
 Supports startup incubation centers for early-stage businesses.

 Funds research and innovation programs to drive technology-based solutions.

Eligibility Criteria:
 Open to students, startups, and research institutions.

 Applicants must propose an innovative business idea or project.

 Must align with AIM’s vision of promoting innovation in India.

Application Process:
 Apply through the AIM portal or NITI Aayog’s official website.

 Submit an innovation proposal, business plan, and relevant documentation.

 Shortlisted startups and institutions receive mentorship, funding, and support.

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