Scheme Name: Youth Innovation Fund.

State: Odisha

Description of the Scheme: Promoting innovative entrepreneurship among the youth.
Youth Entrepreneurship Development Agency (YEDA) will be established to promote innovation among young entrepreneurs and providing mentoring support, market linkages and facilitate soft loans through schemes and financial institutions.

Innovations:
a) Any products/services/prototypes/technologies which are new or having significant technical advantage or change and provides enhancement in measurable economic value & would cover following areas:

i) Introduction of new or improved product or services
ii) Establishment of new or improved processes
iii) Introduction of a new marketing network or supply chain
iv) Introduction of new or improved packaging
v) Establishment of new or improved organisational or managerial processes
vi) Environmentally sustainable technology

Target group :

Sector of the Scheme:

Eligibility Criteria: Residence: Any youth permanently residing in Odisha.
Age limit:13 -35 years of age as on the date of application.

Nature & Mode of Assistance:

1. Rs.50,000 for any new idea
2. Rs.1,00,000 for any demonstrative product, prototypes, patents, incubated products or services
3. Rs.3,00,000 for development of any enterprise based on eligible innovative ideal products/services as prize money as a part of state level felicitation.

"Financial Information (Subsidy, low interest rate, etc.)":

"Other Assistance (Procurement of machinery, Technology /Marketing, International Cooperation, etc.)":

How to apply:

Whom to Contact:

Micro, Small & Medium Enterprises Department, Odisha State Secretariat,

Sachivalaya Marg, Bhubaneswar - 751001.

Contact No: 674 2394121,2393055 (office), 2550 (EPABX),

674 2394051 (Fax)

http://oyif.odisha.gov.in/