On August 15, 2017, the government approved the Chief Minister Startup Scheme (CMSS) Sikkim to promote the local unemployed young. College graduates launch new business ventures and seek self-employment opportunities in Sikkim’s rural and urban locations. The Sikkim Startup India project aims to establish businesses in the industrial and service sectors, including farming, horticulture, food processing, animal husbandry, handloom, handicrafts, and others. Furthermore, for financially viable/bankable projects with a total expenditure of INR. 20 lakhs, the initiative provides financial support equal to 25% of the project cost.

What are the advantages of the Chief Minister’s Startup Scheme (CMSS) Sikkim?

• CMSS is open to new initiatives in the manufacturing or service sectors. Farming, horticulture, food processing, animal husbandry, handloom, and handicrafts, with a total project cost of Rs. 20 lakh.
• Acceptable financial aid, with the promoter contributing up to 25%. The approved cost of a bankable project approved by a PSU financial institution or finance.
• The promoter’s financial commitment under CMSS for other non-manufacturing sector projects remains at 25% of the accepted project cost.
• CMSS will accept 35% of the approved bankable project cost for non-manufacturing activities.

What are the eligibility requirements for the Chief Minister’s Startup Scheme (CMSS) Sikkim?

• The applicant must be between 15 and 40 years old. Chief Minister’s Startup Schemes in Sikkim
• The applicant must be unemployed and have a class V educational qualification from a recognised board.
• The applicant must be a legitimate resident of Sikkim.
• Only one household member is eligible for the rewards.
• Applicants from rural and BPL families will be given priority.

What documents are required for the Chief Minister’s Startup Scheme (CMSS) Sikkim?

• DESME granted the BPL certificate (where applicable).
  Please provide photographs of the applicant and a copy of their birth certificate.
  Address proof.
  Project Report/Business Plan
  Copy of a valid Employment Card issued by BAC.
  A copy of the Sikkim Subject Certificate or Certificate of Identification.
  A certified copy of the mark sheet and certificate issued by the board/university.

In the preceding list, the business plan, also known as a project report, is an important document when requesting for a bank loan. The bank utilizes this document to assess the project’s overall feasibility, risks, financial viability, and potential.