Skill Youth Startup Scheme (SYSS): The Skill Youth Startup Scheme (SYSS) was launched by the Department of Commerce and Industries, Government of Sikkim, on August 15, 2020. The objective of this scheme is to reduce unemployment in rural and urban areas and create numerous self-employment opportunities.
Educated unemployed youth have been encouraged to set up ventures in manufacturing, services, business, cooperative, agriculture, and allied sectors. Beneficiaries can obtain loans with back-ended subsidy support of 50% for applications below the poverty line (BPL) and 35% for others for financially viable, bankable projects.
Objective of the Skill Youth Startup Scheme (SYSS)
The main objective of the Skill Youth Startup Scheme (SYSS) is to encourage entrepreneurship among unemployed youth and school dropouts in Sikkim. Assist eligible young men and women in establishing startup initiatives in areas such as agriculture, horticulture, food processing, and animal husbandry. Build confidence by providing initial financial support and a supportive environment. Create equal business opportunities in both rural and urban areas.
Who is eligible for the Skill Youth Startup Scheme (SYSS)
The applicant must be a local youth, possessing a valid identity card or Sikkim subject certificate. Applicants must be unemployed and between the ages of 15 and 40 as of the application date. Only one family member is eligible to receive the benefits of this scheme. Minimum 5th grade passed from a recognized school. A valid commercial driving license is required for some service activities. Applicants wishing to start a jewelry or grocery shop must have a valid trade license. BPL families or unemployed youths from rural areas are given priority.
Guideline Link: Click Here
Who can’t apply for the Skill Youth Startup Scheme (SYSS)
Applicants who have already received a subsidy under the CMSS or PMEGP schemes are not eligible. Bank defaulters are not eligible to apply for the Skill Youth Startup Scheme (SYSS). Government employees’ children are only eligible if the parent is in Group ‘C’ or ‘D’ service.
How to Apply for the Skill Youth Startup Scheme (SYSS)
Submit the prescribed application form (Annexure-I) along with a detailed project report (DPR) and the necessary documents. Submit the application to the General Manager at the District Industries Centre (DIC) in either Gangtok or Jorethang. A selection committee, consisting of departmental and bank representatives, reviews the applications. After approval, the scheme is sent to banks for loan sanction. Completion of training is mandatory before disbursement.
Benefits of the Skill Youth Startup Scheme (SYSS)
Subsidy: Back-ended subsidy assistance of 50% for BPL and 35% for others on the project cost.
Training: Selected beneficiaries must complete a 03-day Entrepreneur Development Training Program within 60 days of selection, with a mandatory certificate before loan disbursement.
Coverage: This scheme covers various sectors with a maximum project cost limit ranging from Rs.300,000/- to Rs.2,000,000/-.
Frequently Asked Questions (FAQs)
What is the age limit to apply under SYSS?
The applicant must be between 18 and 45 years of age at the time of applying.
Can more than one member from the same family apply?
No, only one member per family is eligible to avail benefits under the scheme.
What financial contribution is expected from the applicant?
Applicants must contribute 5% to 15% of the scheme cost, depending on the norms of the financing bank.
Are government employees’ children eligible?
Only children of group ‘C’ and ‘D’ government employees are eligible to apply under this scheme.