BHUBANESWAR: In a bid to promote entrepreneurship at grassroots and address unemployment in villages, the state government has come up with a fresh Nano Unicorn Scheme and a set of guidelines to support at least 1,200 nano unicorns (mini-sized businesses), especially in the rural belts of the state by 2025-26.
The state government has planned to provide refundable seed funding of up to Rs 1 lakh to entrepreneurs and extend mentorship and handholding support for their sustainability. The scheme will cover all 30 districts with special focus on 10 aspirational ones.
The steering committee, to be headed by the Skill Development and Technical Education (SDTE) secretary, will be the apex body for policy formulation under the scheme, while the executive committee headed by the SDTE director will be responsible forits implementation in the state, stated the SDTE department in its notification, issued recently.
The department officials said Skilled-in-Odisha youth in the age group of 18 to 35 years who have undertaken short-term and long-term skilling courses in ITI, polytechnic, higher technical institutions, World Skill Centre and under NUA Odisha will be the target group for support. Besides, farmers and self-help groups recommended by line departments on specific proposals will be considered for seed funding by the department.
As per the SDTE guidelines, 400 nano unicorns will be selected every year from the 30 districts, 20 each from 10 aspirational districts, and 10 each from the remaining, for seed funding and handholding support.
The state government will spend around Rs 13.56 crore for the purpose. As per the guidelines, candidates having entrepreneurial intent to set up a business with a plan excluding fast food business and manufacturing of single use plastic will be considered for the seed funding. Priority will be given to women entrepreneurs as well as persons with disabilities, transgenders, and members from ST and SC community as well as other marginalised groups for inclusivity.
The nano unicorn entrepreneurs will have to make repayment from second year onwards in twenty installments (from 13th month to 32nd month). The interest charged will be four per cent in the second year and eight per cent in the third year. No interest will be charged if the repayment is made in the first year.
