Lok Sabha member K. Haribabu on Tuesday said that hassle-free funding was available to encourage entrepreneurship among the youth under the ‘MUDRA Yojana’ and ‘Stand-up India’ schemes.
During an interactive session with the cohort of 25 women entrepreneurs being incubated at the Indian Institute of Management (IIM), Visakhapatnam here on Tuesday, he said, “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 various 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 promising, there is no dearth of finance,” he added.
The emergence of Visakhapatnatnam as a major industrial and tourism hub has thrown up several opportunities to the young entrepreneurs, he said.
Later, the Mr. Haribabu went around an exhibition with various products displayed by the cohort team members.
IIM-V Director M. Chandrasekahar explained the objectives of the cohort incubation programme.