Odisha Skill Development Authority Government of Odisha
Nano Unicorn scheme aims to foster the spirit of entrepreneurship among the Skilled-ln-Odisha youths. Youth with entrepreneurship potential will be identified and provided with the right environment to generate livelihood for themselves and create jobs for at least one or more individuals at the grassroots. This will also strengthen the rural economy and reduce migration.
If you are “Skilled in Odisha”, have a business idea and fire in the belly to become an entrepreneur then you can apply to become a Nano Unicorn. If you get selected then you will be given a training of 10 days. This power packed mini – MBA crash course will give you confidence to plunge into the challenging path of transforming yourself from being a Job seeker to a Job creator. After the training you will be given a refundable seed capital uptoRs 1 lakh, depending on your business requirement. After the business is set up and has completed break even, the seed capital has to be returned to the government.
We aim to support 1200 Nano Unicorns across three years period in all the 30 districts of Odisha with special focus on 10 aspirational districts of the stateEvery year 400 youth will be supported with special focus on women, PwD, SC/ST/OBC/SEBC and other marginalised groups as per provisions and no. of applications received
Skilled-ln-Odisha youth Age between 18 to 35 years Successfully completed - anyshortterm (PLTP) skilling courses under NUA Odisha, DDUGKY, OSEMS, etc. or any long-term skilling courses in lTl, Polytechnics, Higher Technical lnstitutions, World Skill Centre, etc. Applicants must not be employed while applying for this and shall submit an undertaking to that effect.
Send your application to the Nano Unicorn-District Skill Executive Committee in your respective district. DSEC shall scrutinize all the received applications. The applicants for Nano Unicorn scheme will have to undergo a selection process comprising a short multiple choice written test, group activity and personal interviews by a panel.
Selected candidates undergo a rigorous training programme of 10 days on Entrepreneurship Development and prepare their business plan during the training. They also get to understand loan disbursement and repayment protocols, mentorship schedule and undergo assessment. At the end of training they get a certificate of participation.
All participants who successfully complete training, are eligible for receiving funding uptoRs 1 lakh. For the first year the entrepreneur will not be charged any interest on the Rs. 1 lakh. During the second year a nominal 4% interest will be charged. In third year the outstanding will be payable at 8% interest.
Upon successful completion of the EDP training, DSDE, Bhubaneswar shall release the refundable seed funding to the Nano Unicorn Entrepreneurs through Direct Benefit Transfer (DBT), on specified date. This money will be used to kick-start your business as a capital expenditure to buy tools or equipment, etc.
Each Nano Unicorn will be mentored by experts and nurtured over a year with quarterly reviews for course-corrections, if needed. During the initial phase,the frequency of mentoring is higher.The business site of each and every entrepreneur is visited by OSDA and Tata STRIVE team. All entrepreneurs are encouraged to network with the other Nano Unicorn. As the business stabilises and expands, the shy unsure youngsters evolve into confident entrepreneurs.
After 1 year of operations, the nano unicorn is expected to start returning the seed funding back to the government as per the payment schedule agreed upon during the loan disbursement. Within 34 months the seed money with interest will be returned to the government to help make another Nano Unicorn.
While establishing a flourishing business, the nano unicorn is expected to employ one or more employees who serve as apprentices and can further be groomed to become nano unicorns. Thus, the cycle will continue benefiting more and more people over the years.
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Request For Proposal (RFP) for Engagement of Implementing Partner for Nano Unicorn Scheme
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