5 Government Schemes For Budding Entrepreneurs To Help Their Startups

If you’re an entrepreneur then any amount of information for your startups is likely to not fill your curiosity bucket, as you’re always on the search for more. Now, if you’re that type of a person then there is something that you should definitely know about.

There are some schemes by the government that would help you help you in your entrepreneurial journey. So, here’s the list, go through it and enrich your knowledge bank.

Start-Up India

This project from the Indian government has helped many budding entrepreneurs to attain a good spot in the market. Starting from local level business startups to big mobile apps have benefitted from this one scheme.

Coupled with the Pradhan Mantri Mudra Yojna, it helped provide financial capital for the less fortunate kind who wanted to start their own business with big aspirations.

ATAL Innovation Mission

This project bootstraps the spirit of entrepreneurship and has helped many startups in becoming successful.

Involved in the success of many college-level businesses to NGOs, the pattern that this scheme follows is that it operates Atal Incubators (AICs) at the university, NGO, SME, and corporate industry levels.

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AIC (Atal Incubation Center)

An incubation center is a place where you can take your ideas to and the human resource along with financial and other aids would be provided to you for a sizeable exchange of either company’s equity or something similar.

This is the case with AIC running under the Atal Innovation Mission. Each branch of AIC is given a grant of 10 Crore and an exhaustion period of 05 years with which they can help startups grow to a sizeable limit.

They have helped startups in the domain of chemicals, technology hardware, healthcare & life sciences, aeronautics/aerospace & defense, agriculture, AI, AR/VR (augmented + virtual reality), automotive, telecommunication & networking, construction, design, non-renewable energy, and renewable energy.

eBiz Portal

This is a portal that serves operates on the G2B business model, which is government to the business model if we elaborate it furthermore.

It is majorly operable in Andhra Pradesh, Delhi, Haryana, Maharashtra, and Tamil Nadu and has already launched about 29 services.

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Credit Guarantee Fund Trust for Micro and Small Entreprises (CGTMSE)

With this scheme, it is easy for Micro and Small Business owners to get their loans approved and get the required credit for taking a loan without the help of a third party or any collateral.

Ministry of Micro, Small & Medium Enterprises (MSME) helped in developing this initiative to generate the necessary help for the first generation entrepreneurs in need of such credit.