Top 10 Startup Schemes, Started by Indian Government to Support Emerging Entrepreneurs

Top 10 Startup Schemes, Started by Indian Government to Support Emerging Entrepreneurs

Top 10 Startup Schemes, Started by Indian Government to Support Emerging Entrepreneurs

Puja Bhardwaj | StartupCity Magazine

The Indianstartup ecosystem is creating unicorns at double the speed than before, and thenation is in the core of the startup boom. In the past few years, the Governmentof India has launched numerous schemes, whose purpose is to support startupsand push them to grow. If you are a growing entrepreneur, then it is a perfecttime to kickstart your venture and converts your dream into reality.

Here is a list of some notable government schemes that offerbusiness loans for startups in India.

 MUDRA is an organisation established by thegovernment of India to supply financal support to micro-business units. Itprovides refinanced business loans, approved and disbursed through publicsector banks, private sector banks, co-operative societies, and others.

SMILE (SIDBI Make in India Soft Loan Fund for MSMEs)

SIDBI loanfund was launched to give soft loans to MSMEs to meet the needed debt-equityratio for the establishment of new MSMEs and also to enable the growth forexisting ones.

Standup India

StandupIndia scheme is for women and for those entrepreneurs who belong to SC and STcommunities. It is available for Greenfield ventures in manufacturing, trading,and service units, ranging from 10 lakh to 100 lakh.

National Small Industries Corporation Subsidy

The NSICsubsidy is focused on funding small and medium enterprises who wish to enhancetheir manufacturing quality and quantity. This scheme presents two kinds offinancial advantages – Raw Material Assistance and Marketing Assistance.

Credit Guarantee Scheme

The CGTMSEis inaugurated to provide business loans to micro and small industries, withzero collateral. Means, through this scheme, new and upcoming startups canavail loans at highly subsidized interest rates without presenting anysecurity.

Credit Link Capital Subsidy Scheme for Technology Upgradation

CLCSSsupports small businesses to upgrade their process by financing technologicalup-gradation. The purpose of the CLCSS scheme is to reduce the cost ofproduction of goods and services for SMEs and allow them to remain pricecompetitive in local as well as international market.

Bank Credit Facilitation Scheme

Bank CreditFacilitation Scheme aims to meet the credit needs of MSME units. Throughsyndication with different nationalized and private sector banks, the NSICarranges for credit support from banks without any cost to MSMEs.

Atal Incubation Centres

This schemeis headed by Atal Innovation Mission; it provides grant-in-aid of Rs. 10 Cr toevery AIC. It was set up under the NITI aayog with a vision to providefinancial aid and infrastructure assistance to different startups in sectorsincluding technology hardware, healthcare, defense, agriculture, and many more.

Sustainable Finance Scheme

This schemeassists the entire value chain of energy efficiency and sustainable developmentprojects and leads to significant improvements in EE/CP/sustainable developmentin the MSMEs.

MSME Business Loans for Startups in 59 Minutes

This schemeis run by the government of India in collaboration with SIDBI to give unsecuredloans to businesses. You can borrow up to Rs.100 Lakh in term loans or working capitalloans as per your eligibility and feasibility in 59 minutes.

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