PSEEADS

Under the scheme provides financial support for setting up or expanding small business ventures. It primarily targets the unorganized sector and underserved business activities that contribute significantly to the local economy but have historically lacked institutional support.

The SEED Prime – Small Enterprise Empowerment and Development (SEED) Scheme, under the Chief Minister’s ELEVATE Program and implemented by the Planning Department, Government of Meghalaya, aims to empower youth and promote inclusive entrepreneurship across the state. The scheme provides financial support for setting up or expanding small business ventures. It primarily targets the unorganized sector and underserved business activities that contribute significantly to the local economy but have historically lacked institutional support.

For Individuals:

• The applicant must be between 18 and 58 years of age.
• The applicant must be a permanent resident of Meghalaya.
• The applicant must provide proof of relevant experience in the field related to the proposed project.
• The applicant must substantiate experience through past projects, portfolios, certifications, or testimonials from the village headman.
• The applicant shall not be a credit defaulter with any bank or financial institution.
• The applicant without demonstrated relevant experience will not be considered.

For Unregistered Entities:

• The unregistered entity must be based in Meghalaya.
• The unregistered entity may include village organizations, self-help groups, traditional communities, or similar groups.
• The unregistered entity must provide proof of relevant experience in the field related to the proposed project.
• The unregistered entity must substantiate experience through past projects, portfolios, certifications, or testimonials from the village headman.
• The unregistered entity shall not be a credit defaulter with any bank or financial institution.
• The unregistered entity without demonstrated relevant experience will not be considered.

• 50% of total project cost supported as upfront subsidy by Government of Meghalaya (₹50,000 max)
• 5% of total project cost to be contributed by entrepreneur as own share
• Remaining 45% of project cost eligible for bank loan
• Loan tenure of 2 years with a 3-month moratorium period before EMI begins
• Financial support strictly for asset creation (machinery, equipment), operational or working capital expenses not allowed
• Opportunity to access scheme through single online portal under CM-ELEVATE initiative
• Cash Credit loan option available for eligible beneficiaries
• Support to entrepreneurs from unorganized and underserved sectors with emphasis on creating local employment

Individuals

Applications shall not be ordinarily considered for the following

A) Following individuals (currently employed as full-fledged or contractual, or retired and drawing pension) and their Immediate family members which includes spouse, parents, and children up to the age of 30

i) State and Central Government employees

ii) Employees of public sector undertakings, subsidiaries of public sector undertakings and divisions of public sector undertakings etc.

iii) Any individual whose job is concerned with politics such MLAs, MLCs, MPs etc. or seeking to hold a similar position in government

iv) Registered class-1 contractors

v) Consultants who are currently engaged with state or central government

vi) Pressure groups and organizations that are primarily political in nature shall not be ordinarily considered

B) Only one member from a family is eligible for the scheme.

Unregistered Entities

Applications shall not be ordinarily considered for the following

i) State and Central Government employees

ii) Employees of public sector undertakings, subsidiaries of public sector undertakings and divisions of public sector undertakings etc.

iii) Any individual whose job is concerned with politics such MLAs, MLCs, MPs etc. or seeking to hold a similar position in government

iv) Registered class-1 contractors

v) Pressure groups and organizations that are primarily political in nature

vi) Consultants who are currently engaged with state or central government