The NEEDS Scheme online application form is being accepted by the Tamil Nadu government on its website. The New Entrepreneur Cum Enterprise Development Scheme is known as NEEDS. This scheme was expressly designed and put into place to support first-generation entrepreneurs’ entrepreneurial ventures. The recipient must be a first-generation business owner. An entrepreneur is responsible for paying for land, rented or leased space, technical expertise, and preliminary and preoperative costs. In this article, we’ll explain how to apply for the NEEDS Scheme 2024 online and what documents need to upload. So, if you know more about the scheme, its objective, benefits, eligibility criteria and much more, then continue to read.
About NEEDS Scheme
According to the G.O. Ms. No. 49 MSME Dept. dated October 29, 2012, the educated youth will receive entrepreneurship training, support in creating their company strategies, and assistance in forming relationships with financial institutions in order to establish the NEEDS Scheme. The recipient must be a first-generation business owner. An entrepreneur is responsible for paying for land, rented or leased space, technical expertise, and preliminary and preoperative costs. In order to establish new business ventures, educated youngsters will discover, be given entrepreneurial training, aided in creating a business plan, assisted in forming partnerships with banks, TIIC, and SIDBI, and connects with significant industrial clients.
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Key Highlights of NEEDS Scheme
| Launched By | Government of Tamil Nadu |
| Name of Scheme | NEEDS Scheme |
| Full Form | New Entrepreneur Cum Enterprise Development Scheme |
| Objective | Provided with business training |
| Benefits | Rs 10.00 lakhs to Rs 500.00 lakhs |
| Eligibility Criteria | Age ranges of 21-35 for the general category and 21-45 for the special category |
| Official Website | NEEDS |
Objective of NEEDS Scheme
To establish new business ventures, educated youngsters will discover, be given entrepreneurial training, aided in creating a business plan, assisted in forming partnerships with banks, TIIC, and SIDBI, and connect with significant industrial clients.
Benefits of the NEEDS Scheme
- NEEDS Scheme is Specifically designed and put into practice to support first-generation entrepreneurs’ manufacturing or service ventures with project costs ranging from Rs. 10,00,000 to Rs. 5,000,000.
- Contribution of the promoter Individual Based Capital Subsidy @ 25% of the Project Cost 10% for General and 5% for Special Category Loan Assistance from TIIC/ Commercial Banks/ TAICO Banks (Maximum Rs.75.00 lakhs)
- 3% interest is subtracted throughout the entire payback period.
Eligibility Criteria
- For first-generation business owners with a +2 degree who are between the ages of 21 and 35 in the general category and 21 to 45 in the special category (i.e., women, SC, ST, BC, MBC, minorities, former service members, transgender people, and people with disabilities),
- The NEED Scheme does not provide help to Private Limited Companies.
Documents Required
- Transfer certificate or record sheet issued by the school or college (Double Copy)
- Ration Card. (Double Copy)
- A Nativity certificate from the Tehsildar, a copy of an Aadhar card, or a copy of an election voter’s identity card are required of applicants who don’t have a valid ration card. (Double Copy)
- Research Report (Original & Duplicate)
- Original and duplicate valid quotes with a GST number
- Local Certificate (Two Copies)
- Ex-servicemen, people with disabilities, and transgender people should apply with a valid certificate (Two copies)
- Affidavit: The template is attached here for the candidate’s use. It should be typed on nonjudicial stamp paper costing Rs. 20 and officially certified and signed by a notary public before being presented to the bank for loan approval.
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Online Application for the NEEDS Scheme for 2024
The full process for completing the TN NEEDS online application form are as follows
- Applicants need to visit the NEEDS website of the Scheme.
- Scroll over the “Apply Online” tab on the homepage and click the “New Application” link.
- It will lead you to the registration/login page and display the message “Please register and login for apply NEEDS scheme.”
- The NEEDS Scheme online registration form 2023 will appear after clicking the “Register” link.
- Then log in and visit the link to apply for the scheme online.
- Complete the NEEDS application form, upload the required files, and download the submitted application.
Track Application Status
- Applicants first need to visit the official website of the NEEDS Scheme.
- The homepage will appear on your where you need to click on the Track Your Application option.
- After that, you have to enter your application status verification number.
- Then click on Submit button.
- After that, all the details related to your application will appear on your screen.
Download Guideline
- Applicants first need to visit the official website of the NEEDs Scheme.
- The homepage will appear where you need to click on the Guideline option.
- Now the guideline page will open your screen, where you get all the details.
Contact Details
Head Department
- Department Of Industries & Commerce, SIDCO Corporate Office Building, Guindy Industrial Estate, Chennai 600 032.
- Official Email ID: indcom@tn.gov.in. www.msmeonline.tn.gov.in
- 22505003,22505023