ISO Certified Premium Startup Consultancy Company
ISO Certified Premium Startup Consultancy Company
Entrepreneurship is one of the key drivers of economic growth and development. It not only creates employment opportunities but also drives innovation and contributes to the overall well-being of society. However, not everyone has equal access to entrepreneurship opportunities, especially the marginalized sections of society. To address this issue, the government of India launched the Samridhi Fund Scheme in 2019, under the Ministry of Social Justice and Empowerment.
The Samridhi Fund Scheme is an investment scheme aimed at providing financial assistance to startups working towards social inclusion and empowerment. The scheme has a corpus of Rs. 250 crore, and it is managed by the National Scheduled Castes Finance and Development Corporation (NSFDC). The scheme provides financial assistance in the form of equity, quasi-equity, or debt to eligible startups. The assistance is provided at a subsidized interest rate of 10% per annum.
The Samridhi Fund Scheme is a significant initiative by the government of India to promote social inclusion and empowerment through entrepreneurship. The scheme provides a unique opportunity for startups to receive financial assistance and support from the government, which can help them scale their operations and create a positive impact on society.
The eligibility criteria for the Samridhi Fund Scheme are designed to ensure that only deserving startups receive financial assistance. The eligibility criteria include:
The startup must be registered under the Companies Act, 2013, or the Limited Liability Partnership Act, 2008.
The startup must be working towards social inclusion and empowerment of Scheduled Castes (SCs), Scheduled Tribes (STs), and Other Backward Classes (OBCs).
The startup must have a minimum net worth of Rs. 50 lakh and a maximum net worth of Rs. 10 crore.
The startup must have a minimum turnover of Rs. 1 crore and a maximum turnover of Rs. 25 crore.
The startup must have a positive net worth and a profit in the last two financial years.
The startup must not be a willful defaulter.
The Samridhi Fund Scheme provides financial assistance in the form of equity, quasi-equity, or debt to eligible startups. The scheme provides a maximum assistance of Rs. 15 crore per startup, and the assistance is subject to the approval of the Samridhi Fund Scheme Committee. The scheme has a tenure of 10 years, and the startups are required to repay the assistance within the tenure of the scheme.
The financial assistance provided under the Samridhi Fund Scheme can help startups in many ways. It can help them scale their operations, invest in research and development, and hire skilled professionals. The financial assistance can also help startups in accessing new markets and partnerships, which can contribute to their growth and success.
The Samridhi Fund Scheme has several benefits for startups working towards social inclusion and empowerment. Some of the key benefits of the scheme are:
Financial Assistance: The scheme provides financial assistance to eligible startups, which can help them in scaling their operations and creating a positive impact on society.
Subsidized Interest Rate: The assistance provided under the scheme is available at a subsidized interest rate of 10% per annum, which is significantly lower than the market rate.
Promotes Social Inclusion: The scheme promotes social inclusion by providing financial assistance to startups working towards the empowerment of marginalized sections of society.
Access to Networks: The scheme provides startups with access to a network of investors, mentors, and other stakeholders, which can help them in accessing new markets and partnerships.
Government Support: The scheme provides startups with government support, which can help them in navigating the regulatory landscape and overcoming various challenges that they might face during their entrepreneurial journey.
Long-term Support: The scheme has a tenure of 10 years, which means that startups can receive long-term support from the government. This can help them in planning their growth strategies and achieving their long-term goals.
Positive Impact on Society: The scheme promotes entrepreneurship for social inclusion, which can have a positive impact on society. Startups working towards social inclusion and empowerment can create jobs, promote innovation, and contribute to the overall well-being of society.
The Samridhi Fund Scheme is a significant initiative by the government of India to promote social inclusion and empowerment through entrepreneurship. The scheme provides financial assistance to startups working towards the empowerment of marginalized sections of society. The assistance is provided at a subsidized interest rate, and the scheme has a tenure of 10 years. The scheme has several benefits for startups, including access to networks, government support, and long-term assistance. Overall, the Samridhi Fund Scheme is an excellent opportunity for startups to receive financial assistance and support from the government, which can help them in creating a positive impact on society.
24 Mar
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