TN students scheme extended till 2022

The scheme, under Tamil Nadu Industries Department, aims to provide training to young first-generation entrepreneurs in conceiving, planning, initiating and launching a manufacturing or service enterprises successfully. 

On successful completion of the training programme, students will be assisted to get term loan from banks and Tamil Nadu Industrial Investment Corporation Limited (TIIC) to setup manufacturing or service enterprises with margin money assistance. 

Industry department sources told DT Next that officials have discussed with stakeholders to critically analyse the performance of the NEEDS scheme to enhance students’ performance. 

“During the discussion extension of implementation of the scheme for a further five year period till 2022 for aspiring entrepreneurs was proposed,” a senior official from Industries Department said, adding, accordingly, it was also proposed to bring in certain modifications and alterations to the existing norms. 

Now, the training will be for three weeks of five working days for each week. In the first week (last for five working days – 30 hours), the candidates will be taught basics of entrepreneurship and the methodology to conduct market survey. 

During the next week, the candidates will be assisted in preparing a bankable business plan and will be guided in approaching the financial institution for credit. In the third week, modules on financial management, personnel management, taxation rules and government norms and procedures will be conducted. 

A total of 1,000 entrepreneurs will be trained per year during the next five years from 2018 at an average of 40 batches comprising of 25 trainees.