Funds available to encourage startups under MUDRA Yojana scheme

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Funds available to encourage startups under MUDRA Yojana scheme

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On Tuesday, Lok Sabha member K. Haribabu expressed that hassle-free funding was available to motivate entrepreneurship among the youth under the ‘MUDRA Yojana’ and ‘Stand-up India’ schemes.

At the time of an interactive session with the cohort of 25 women entrepreneurs being incubated at the Indian Institute of Management (IIM), Visakhapatnam here on Tuesday, he expressed, ” The entrepreneurial zeal and enterprises promoting environment in the country are an ideal combination to ensure the growth and development of MSMEs.”

Incentives and subsidies

Mr. Haribabu highlighted the funding mechanism available under many schemes introduced by the central government.

“Ministries dealing with skill development, entrepreneurship and food processing can be tapped for incentives and subsidies for startups. If the ideas are hopeful, there is no dearth of finance,” he expressed.

The emergence of Visakhapatnatnam as a major Industrial and tourism hub has thrown up number of opportunities to the young entrepreneurs, he expressed.

Later, the Mr. Haribabu went around an exhibition with a number of products exhibited by the cohort team members.

IIM-V Director M. Chandrasekahar explained the objectives of the cohort incubation programme.

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