New Entrepreneur-cum-enterprise Development Scheme
The scheme âNew Entrepreneur-Cum-Enterprise Development Scheme (NEEDS)â was launched by the Department of Micro, Small and Medium Enterprises, Government of Tamil Nadu. The scheme...
Under the scheme, subsidy assistance will be provided by the State Government up to 25% of the project cost (Subject to a maximum limit of âč75 Lakhs).
Interest subvention provided at the rate of 3%, throughout the period of repayment.
Priority in allotment in Small Industries Development Corporation (SIDCO) industrial estates.
An additional capital subsidy is provided for 10% over the capital subsidy of the eligible project cost to the enterprises promoted by SC/ST or differently-abled candidates.
Eligibility (who can apply)
The applicant should be a resident of Tamil Nadu State for not less than 3 years.
The applicant should be a first-generation entrepreneur.
The age of the applicant should be between 21 to 35 years in general and for special (Women/BC/MBC/SC/ST/Ex-servicemen/Transgender/Differently abled), age relaxation is up to 45 years.
The applicant should possess a minimum 12th std./diploma/ Industrial Training Institutes (ITI) or vocational training from a recognized Institution, aspiring to become entrepreneurs would be eligible for assistance under the scheme.
There will be no income ceiling for assistance in setting up projects under this scheme.
Assistance under the Scheme is available only for new projects sanctioned specifically under the NEEDS.
Entrepreneurs who have already availed assistance under Prime Ministerâs Rozgar Yojana (PMRY), Rural Employment Generation Programme (REGP), Prime Ministerâs Employment Generation Programme (PMEGP), Unemployed Youth Employment Generation Programme (UYEGP), Tamil Nadu Adi Dravidar Housing and Development Corporation Limited (TAHDCO) or any other scheme of Government of India or State Government will not be eligible for assistance under the NEEDS.
Any applicant/entrepreneur who has availed loan for economic activity under Self Help Group/other group activity will also be not eligible.
The applicant should not be a defaulter to any Commercial Bank / Tamil Nadu Industrial Investment Corporation Limited (TIIC).
Entrepreneurs availing assistance under this scheme will not be eligible to avail of capital subsidy under any other State Government schemes.
Project cost should be above âč10 lakh, and below âč5 crore.
The applicant's contribution should be 10% of the proje
How to Apply
**Online**
##### **Application Processes:**
**Step 01:** The applicant willing to avail loan under the NEEDS scheme should fill up the online application through the[ Official Website](https://msmeonline.tn.gov.in/needs/needs_desc.php) of the Micro, Small and Medium Enterprises Department, Government of Tamil Nadu.
**Step 02:** On the home page, click on âApply Onlineâ and then âNew Applicationâ.
**Step 03:** Click on âRegisterâ and fill in the details like Name, Date of Birth, Email ID, Aadhaar Number & Mobile Number.
**Step 04:** After successful registration, click on âloginâ and fill in all the mandatory details.
**Step 05:** Upload all the necessary documents and submit the application form.
##### **Post-Application Process:**
Frequently Asked Questions
Who is eligible for New Entrepreneur-cum-enterprise Development Scheme / what is the eligibility?
1. The applicant should be a resident of Tamil Nadu State for not less than 3 years.
1. The applicant should be a first-generation entrepreneur.
1. The age of the applicant should be between 21 to 35 years in general and for special (Women/BC/MBC/SC/ST/Ex-servicemen/Transgender/Diffe...
What are the benefits of New Entrepreneur-cum-enterprise Development Scheme?
1. Under the scheme, subsidy assistance will be provided by the State Government up to 25% of the project cost (Subject to a maximum limit of âč75 Lakhs).
1. Interest subvention provided at the rate of 3%, throughout the period of repayment.
1. Priority in allotment in Small Industrie...
How to apply online for New Entrepreneur-cum-enterprise Development Scheme?
**Online**
##### **Application Processes:**
**Step 01:** The applicant willing to avail loan under the NEEDS scheme should fill up the online application through the[ Official Website](https://msmeonline.tn.gov.in/needs/needs_desc.php) of the Micro, Small and Medium Enterprises Department,...