Meghalaya Any Business Venture Scheme

Description
The Chief Minister’s CM-ELEVATE Program by the Government of Meghalaya promotes entrepreneurship across the state. Under this program, the Meghalaya Any Business Ventures Scheme provides financial support to 50 entrepreneurs to help them establish their own business ventures. Objectives of the scheme - Identifying demands present within the state : The focus is on identifying existing market needs and gaps in the local economy, paving the way for strategic business development.- Supporting underserved business ventures: The objective is to extend support to enterprises that have been historically underrepresented or lacked resources, fostering inclusivity in entrepreneurship.- Exploring the potential for developing products of national importance: The aim is to investigate opportunities for the creation of products or innovations with significance on a national scale, contributing to the country's growth.- Providing a platform to showcase their skills: The initiative involves creating a platform where individuals and businesses can exhibit their talents, skills, and offerings to a wider audience.- 50 facilities to be supported across the state: The plan includes providing assistance and resources to a total of 50 facilities, strategically distributed across the entire state.- Offering businesses an opportunity to showcase their uniqueness: Businesses are encouraged to highlight their distinctive qualities, enabling them to stand out in the market and attract customers.- Overall economic development by providing people with job opportunities and an increase in other economic activities: By generating employment opportunities and stimulating various economic sectors, the overarching goal is to contribute to the comprehensive development of the region.

Exclusions
• State and Central Government employees (full-fledged, contractual, or retired and drawing pension) and their immediate family members (spouse, parents, and children up to 30 years of age).
• Employees of Public Sector Undertakings (PSUs), their subsidiaries, or divisions, and their immediate family members.
• Individuals engaged in political positions such as MLAs, MLCs, MPs, or those seeking similar positions.
• Registered Class-1 contractors.
• Consultants currently engaged with the State or Central Government.
• More than one member from the same family.
• Pressure groups or organizations that are primarily political in nature.
• Government employees (full-fledged, contractual, or retired and drawing pension) and their immediate family members.
• Employees of Public Sector Undertakings (PSUs) and related entities.
• Individuals engaged in political positions or seeking such positions.
• Registered Class-1 contractors.
• Consultants currently engaged with the State or Central Government.
• More than one member from the same family.
• Pressure groups or organizations that are primarily political in nature.

Benefits
• 25% upfront subsidy (max ₹12.5 lakhs) by Government of Meghalaya
• Up to ₹5 lakhs EMI support (10% of project cost)
• Loan up to 70% of project cost via MCAB, SBI, HDFC, etc
• 15-year loan term with 18-month moratorium
• Mentorship and coaching via PRIME
• Support for business registration if required

Eligibility Criteria
1. **Eligibility Criteria – Individuals**
2. The applicant should be between 18 and 58 years of age.
3. The applicant and all partners involved in the proposal should be residents of the state of Meghalaya, and valid identification documents demonstrating residency should be submitted.
4. The applicant should provide proof of relevant experience in the field related to the proposed project; fresh applicants without demonstrated experience should not be considered.
5. The applicant should provide proof of land ownership or a valid lease agreement for the proposed establishment.
6. The applicant should demonstrate commitment to the project by providing proof of the required contributing share, including financial contributions, resources, or any other form of investment outlined.
7. The applicant should commit to employing local residents in accordance with the funds received and the type of unit being established.
8. **Eligibility Criteria – Registered Entities**
9. The applicant (authorized representative/partners) should be between 18 and 58 years of age.
10. All partners involved in the proposal should be residents of the state of Meghalaya, and valid identification documents demonstrating residency should be submitted.
11. The applicant should provide proof of relevant experience in the field related to the proposed project; fresh applicants without demonstrated experience should not be considered.
12. The applicant should provide proof of land ownership or a valid lease agreement for the proposed establishment.
13. The applicant should demonstrate commitment to the project by providing proof of the required contributing share, including financial contributions, resources, or any other form of investment outlined.
14. The applicant should commit to employing local residents in accordance with the funds received and the type of unit being established.
15. <br>

Application Process
Step 1: Citizen Registration for Member ID
Online
Citizen Registration for Member ID

Step 2: Step 1: Visit the official website of the scheme and click on the “Login to Apply” button to start the application process. Carefully read all the instructions provided on the website before proceeding.
Online
Step 1: Visit the official website of the scheme and click on the “Login to Apply” button to start the application process. Carefully read all the instructions provided on the website before proceeding.

Step 3: Step 2: If you are a first-time user, click on “Registration for New User” and complete the registration process to create your account.
Online
Step 2: If you are a first-time user, click on “Registration for New User” and complete the registration process to create your account.

Step 4: Step 3: Select your Authentication ID from the available options, such as
Online
PDS (Ration Card)
Election Photo ID Card (EPIC).

Step 5: Step 4: Enter your card number, select your name from the displayed list, and click on “Next” to continue.
Online
Step 4: Enter your card number, select your name from the displayed list, and click on “Next” to continue.

Step 6: Step 5: Your EPIC ID will appear on the screen. If the details are correct, click on “Accept.” If the details are incorrect or rejected, manually enter your EPIC number and proceed.
Online
Step 5: Your EPIC ID will appear on the screen. If the details are correct, click on “Accept.” If the details are incorrect or rejected, manually enter your EPIC number and proceed.

Step 7: Step 6: Click on “Validate” to verify the entered EPIC number, and then click on “Next” to move to the application form.
Online
Step 6: Click on “Validate” to verify the entered EPIC number, and then click on “Next” to move to the application form.

Step 8: Step 7: Fill in all required details in the application form, upload the necessary documents, carefully review all the information, and click on “Submit.” After successful submission, you will receive a unique application number for future reference.
Online
Sign In

Step 9: Step 1: Click on “Sign In” and choose your preferred sign-in method from Mobile Number, PDS, EPIC, or Member ID.
Online
Step 1: Click on “Sign In” and choose your preferred sign-in method from Mobile Number, PDS, EPIC, or Member ID.

Step 10: Step 2: Enter your User ID and Password, then click on “Login” to access your account.
Online
Step 2: Enter your User ID and Password, then click on “Login” to access your account.

Step 11: Step 3: After logging in, click on “Apply for Services/Scheme” to start your application.
Online
Step 3: After logging in, click on “Apply for Services/Scheme” to start your application.

Step 12: Step 4: Fill in all the required details in the application form, upload the necessary documents, carefully review the information, and click on “Submit.”
Online
Screening: District and State committees shall verify and shortlist applications. The committees can also physical background verification for shortlisted candidates if required
Interview & Inspection: Virtual pitch, physical interview and site inspection by Department and bank teams
shall be done as and when required

Required Documents
• **Individuals**
• Proof of Address of Applicant (Voter ID/Passport/Driving License)
• Ration Card (If available)
• Self Declaration[ Download](https://www.cmconnectadmin.meghalaya.gov.in/CMEA/Agro_Tourism_Villa_Scheme/SDCI.pdf)
• Detailed Project Report (DPR) [Download](https://www.cmconnectadmin.meghalaya.gov.in/CMEA/Any_Business_Venture_Scheme/DPR.pdf)
• Land ownership or notarized lease certificate (if applicable) [Download](https://www.cmconnectadmin.meghalaya.gov.in/CMEA/Agro_Tourism_Villa_Scheme/LAC.pdf)
• **Registered Entities**
• Self Declaration[ Download](https://dcs.humanitics.com/cmElevate/Any_Business_Venture_Scheme/SDC.pdf)
• Ration Card (If available)
• Proof of Address of the President/Secretary(Voter ID/Passport/Driving License)
• Incorporation Certificate or Registration Certificate
• Land ownership or notarized lease certificate (if applicable) [Download](https://dcs.humanitics.com/cmElevate/Any_Business_Venture_Scheme/LAC.pdf)
• Detailed Project Report (DPR) [Download](https://dcs.humanitics.com/cmElevate/Any_Business_Venture_Scheme/DPR.pdf)
• <br>

Frequently Asked Questions
Q: What is the Meghalaya Any Business Ventures Scheme?
A: It is a scheme under the Chief Minister’s CM-ELEVATE Program that provides financial and institutional support to 50 entrepreneurs to establish business ventures in Meghalaya.
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Q: What is the main objective of the scheme?
A: The scheme aims to promote entrepreneurship, identify market gaps within the state, and support inclusive and sustainable economic development.
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Q: How many entrepreneurs will be supported?
A: A total of 50 business ventures across the state will be supported under the scheme.
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Q: What type of financial assistance is provided?
A: The scheme offers a 25% upfront subsidy (maximum ₹12.5 lakhs) from the Government of Meghalaya.
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Q: Is EMI support available?
A: Yes, EMI support of up to ₹5 lakhs (10% of the project cost) is provided.
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Q: What is the maximum loan amount available?
A: Loans of up to 70% of the total project cost can be availed through partner banks.
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Q: Which banks provide loan support under the scheme?
A: Loans may be accessed through banks such as MCAB, SBI, HDFC, and other notified financial institutions.
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Q: Is there a moratorium period on the loan?
A: Yes, an 18-month moratorium period is provided before repayment begins.
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Q: Are there any reclosure fee for the loan?
A: Yes, however this will vary from bank to bank
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