S6D49E
North East Entrepreneurs Development (NEED)
The North East Entrepreneurs Development (NEED) scheme supports startups across India by providing term loans covering up to 75% of project costs, with a minimum promoter contribution of 25%. It also offers grants for incubation and pre-incubation groups, including Rs 3 lakhs for commercialization and Rs 1 lakh for prototypes, aimed at fostering entrepreneurship in the North Eastern region.
States / UT: All India
Ministry / nodal: Ministry of Development of North Eastern Region
Scheme for: Startups
Scheme profile
DBT (direct benefit transfer): No
Target beneficiaries: Startups
Tags: startups, North East, Credit Benefit Schemes
Details
Brief
The North East Entrepreneurs Development (NEED) initiative is an effort by the Ministry of Development of North Eastern Region to support entrepreneurship and business development in the North Eastern Region of India. The scheme has been formulated to help first-generation entrepreneurs who are short of equity. New projects in Micro and Small Enterprises, expansion, and modernization of existing units. Technical qualification of the promoter in the relevant field is a pre-requisite.
Eligibility
- First-generation entrepreneurs, existing entrepreneurs, proprietary & partnership concerns and companies. Technical qualification of the promoter in the relevant field is a pre-requisite.
Fund / quantum
- For Incubation group Rs 3 lakhs commercialization grant for 120 startups, additional Rs.7 lakhs for top 20 performers
- For Pre-incubation group Rs 1 lakhs prototype grant for 150 startups, additional Rs.4 lakhs for top 25 performers.
Tenure
- Active
Benefit tags
- Credit Benefit Schemes
Notes
- The scheme has been formulated to help first-generation entrepreneurs who are short of equity. New projects in Micro and Small Enterprises, expansion, and modernization of existing units. Technical qualification of the promoter in the relevant field is a pre-requisite.
Benefits
- - Term loan up to a maximum of 75% of the project cost including one cycle of working capital in deserving cases. Promoter’s contribution minimum of 25% of the project cost
- For specific details about NEED and its benefits, please visit the official website
- Term loan up to a maximum of 75% of the project cost including one cycle of working capital in deserving cases. Promoter’s contribution minimum of 25% of the project cost.
- For specific details about NEED and its benefits, please visit the official website.
Eligibility
First-generation entrepreneurs, existing entrepreneurs, proprietary & partnership concerns and companies. Technical qualification of the promoter in the relevant field is a pre-requisite.
For Incubation group Rs 3 lakhs commercialization grant for 120 startups, additional Rs.7 lakhs for top 20 performers
For Pre-incubation group Rs 1 lakhs prototype grant for 150 startups, additional Rs.4 lakhs for top 25 performers.
Active
Application Process
Online / portal
Official application / information link: https://my.msme.gov.in/MyMsmeMob/MsmeScheme/Pages/7_1_6.html
Source listing: https://www.startupindia.gov.in/content/sih/en/government-schemes.html
Official links
References
Apply
Apply nowOpens the official application or programme portal in a new tab. If in doubt, confirm details on the ministry site.
Documents Required for Government Schemes
Most government schemes require basic documents for verification. While the exact requirements vary, common documents include:
- Aadhaar Card
- Income Certificate
- Caste Certificate (if applicable)
- Residence Proof
- Bank Account Details
- Educational Certificates (for student schemes)
How to Apply for Government Schemes?
The application process for government schemes may be online or offline depending on the scheme. In most cases, you can follow these steps:
- Check eligibility criteria
- Collect required documents
- Fill the application form
- Submit the application online or at the relevant office
- Track application status