{"id":8751,"date":"2024-06-14T03:47:05","date_gmt":"2024-06-14T03:47:05","guid":{"rendered":"https:\/\/exam.pscnotes.com\/current-affairs\/?p=8751"},"modified":"2024-06-14T03:47:05","modified_gmt":"2024-06-14T03:47:05","slug":"kerala-state-industrial-development-corporation-loan-for-young-entrepreneurs","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/current-affairs\/kerala-state-industrial-development-corporation-loan-for-young-entrepreneurs\/","title":{"rendered":"Kerala State Industrial Development Corporation loan for young entrepreneurs"},"content":{"rendered":"

To encourageentrepreneurshipamongyouth, theKerala State Industrial Development Corporation(KSIDC) would focus on offering financial and technical assistance to the young entrepreneurs, through itsseed fund assistance program.<\/p>\n

KSIDC had launched seed fund assistance in 2015, targeting innovative startup ventures that would also provide them incubation facilities, mentoring and networking support.<\/p>\n

For successful units that have completed the seed stage, the corporation also provides scale-up support for expanding their business and attaining Growth<\/a> momentum. In 2021-22, the corporation has decided to offer seed-fund assistance to 30 startup ventures, up to a maximum of Rs 25 lakh per project.<\/p>\n

The seed fund scheme primarily aims at supporting commercially-viable scientifically and technologically innovative projects promoted by young entrepreneurs. Under the scheme, financial assistance up to Rs 25 lakhs or 90% of the project cost, whichever is lower, is provided as a soft loan for one year at an interest rate (fixed) equal to the prescribed by RBI from time to time. Presently, the interest rate is 4.25%. After the one-year tenure, the soft loan can either be converted into Equity<\/a> capital at face value or repaid with applicable interest.<\/p>\n","protected":false},"excerpt":{"rendered":"

To encourageentrepreneurshipamongyouth, theKerala State Industrial Development Corporation(KSIDC) would focus on offering financial and technical assistance to the young entrepreneurs, through itsseed fund assistance program. KSIDC had launched seed fund assistance in 2015, targeting innovative startup ventures that would also provide them incubation facilities, mentoring and networking support. For successful units that have completed the seed … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1099],"tags":[787],"class_list":["post-8751","post","type-post","status-publish","format-standard","hentry","category-kerala","tag-12-06-21"],"yoast_head":"\nKerala State Industrial Development Corporation loan for young entrepreneurs - Current Affairs Exam<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/current-affairs\/2024\/06\/14\/kerala-state-industrial-development-corporation-loan-for-young-entrepreneurs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kerala State Industrial Development Corporation loan for young entrepreneurs\" \/>\n<meta property=\"og:description\" content=\"To encourageentrepreneurshipamongyouth, theKerala State Industrial Development Corporation(KSIDC) would focus on offering financial and technical assistance to the young entrepreneurs, through itsseed fund assistance program. 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KSIDC had launched seed fund assistance in 2015, targeting innovative startup ventures that would also provide them incubation facilities, mentoring and networking support. For successful units that have completed the seed ... 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