B2B Business Owners! Get Sales Support Service To Sky Rocket Your Sales

B2B Business Owners! Get Sales Support Service To Sky Rocket Your Sales.

Business Is The New Audience

The most important question that you could ask yourself for your business would be – “Who is my target audience?” Knowing your audience better is the key to running a successful business venture. All businesses have different end goals. Some may be selling to retail customers while others may have other big businesses as their customers. You need to decide in which jargon your business fits on the basis of your audience and end goal. This helps you to reach out to your audience in a strategic manner with a customised marketing approach.

What is B2B? Businesses that have other businesses as their audience are known as B2B. B2B stands for Business to Business, which means the transaction is happening between businesses where one of them might be a wholesaler while the other is a manufacturer or both the parties involved may be a wholesaler and a retailer. Hence, the marketing would be targeted toward other businesses. The advertising activities should be such that they should engage and catch the attention of other businesses. B2B sales marketing strategy mostly involves traditional marketing techniques. You need an expert to serve you with sales support here because B2B marketing is not as easy as it seems.

What is Sales Support Service?

What is Sales Support Service in B2B

The term sales support service consists of three words, let’s understand the meaning of each word then. The “sales” part here refers to the advertising activities involved in order to sell the product/services and achieve the sales target. The “support” part is where the external help comes in the form of various “services” offered by expert marketing agencies. The marketing agency provided much-needed support for the execution and strategy curation of the marketing activities.

There are various business support service practices involved in the process of B2B marketing. You can avail of various services like Whatsapp Broadcast Support, IVR, Data support, and many more. Let’s understand these services in detail.

Sales Support Services That Your Business Needs

  • WhatsApp Broadcast Support – broadcast service is used to spread the word of the brand to a large number of prospects/audiences at the same time. This still keeps the name of other recipients private. On top of that, you can manage the conversation between the prospect and the brand all by yourself.
  • Data Support – Data support is provided to gain insights that help your business get a better hold of the market. Such data helps you elevate your B2B business and optimise your marketing efforts. Businesses that are in a competitive market benefit the most from this service.
  • IVR – IVR stands for Interactive Voice Response. This is an automated calling service that enables a voice response system for businesses to create a data pool of your customers. This service helps you crack quality call leads for sales. Thus providing sales support to the businesses.
  • Auto Dialer Support – An automated dialer service is one of the most effective ways to reach out to your prospects without needing much resources. This service efficiently delivers your message to the customer and even connects the customer with respective representatives if needed. This is a smooth way to enhance your audience engagement and achieve your sales targets.
  • Digital Marketing – Digital marketing helps you create a digital presence on the platforms which are relevant to your business. This creates an online marketplace for your business and targets the right audience by implementing the best practices.
  • Skilled Manpower Support – This service provides the business with skilled and experienced manpower for the efficient functioning of the business. It adds an expert quality touch to your execution process.
  • E-commerce Support – The E-commerce business model is gaining popularity these days. It allows you to commercialise your business online on the platforms where your target audience is present. There are several e-commerce platforms that allow businesses to showcase their products and services.

Benefits of Sales Support Services

There are several benefits of onboarding a marketing expert for business support service on your team who understands the intricacies and technicalities of market and advertising. Here are just a few of them :

  • Cost Effective
    A B2B marketing agency serves you with the best results for much lesser than what it would cost you to hire an in-house marketing team. It also has an added cutting of the hiring and training process for your in-house team. You get a ready expert team without all the extra expenses that are wasted on employee benefits and periodic salary payments. You just pay for what you want.
  • High-Quality Leads
    Joining hands with a B2B marketing agency means receiving quality leads and meeting your sales target effortlessly. The conversion rate shoots up with a marketing agency on your side.
  • Expert’s touch
    There is always a difference between an expert doing a job and others doing that same job. The added benefit of their skills and vast knowledge applied in the curation process of your marketing strategy is what we are talking about. The expert’s touch always makes your marketing activities stand out from the crowd.
  • Stay Adaptable
    You are capable of switching between different campaigns or running two different campaigns simultaneously. You become more flexible and adaptive to the needs of the market. It allows you to modify your marketing plan according to the changing nature of the business and the market.
  • Stay Sustainable
    Your business will save up a lot of revenue by not having a full-time in-house marketing team that keeps sucking at your budget at every month’s end. You can put that saved resource in the developmental cracks of your business and strengthen the business.

Need The Support For Your Sales?

A B2B Business in India must hire an agency for sales support and services to expand their business and achieve their desired sales target. B2B marketing is a complex phenomenon that requires experience and in-depth knowledge. Hence, a B2B Business in India must hire an agency for sales support and services to expand their business and achieve their desired sales target. 

Egniol Services provides the best consultation services and assistance for all types of businesses out there! If you are a B2B Business owner who is looking for sales support services then you must get in touch with experts of Egniol Services today. Receive excellent advice to expand your business with Egniol by your side. Here is our first advice for you – “Make the right choices for your business, choose Egniol”.

Listen Up, Innovators! Startup Karnataka Organises Idea2PoC_ ELEVATE 2022

Listen Up, Innovators! Startup Karnataka Organises Idea2PoC/ ELEVATE 2022

Fundings From The State

Our economy never falls short of exceptional talent and creative innovations. What usually results as a drawback is the lack of support and resources to back these innovative ideas. The Indian Government of India is therefore quite thoughtful when it comes to supporting small businesses and innovative startups. There are several ways through which the government extends a helping hand to such innovative startups. Idea2PoC/ Elevate 2022 is one such funding program.

What is the Idea2PoC/ Elevate 2022 Program?

This funding program aims at recognizing innovative startups in Karnataka. These Karnataka startups will receive Government support to elevate their business under Idea2PoC/Elevate 2022. This would help them in the growth and development of their products and solutions. 

The Karnataka Government has already catalysed the innovation and entrepreneurship drive in Karnataka through various measures of Karnataka startup funding facilities and policies. The Department of Electronics, IT, BT, and S&T of the Government of Karnataka launched the Elevate- Idea2PoC scheme with a vision to recognize and aid budding innovative startups. It is a one-time grant of up to Rs. 50 Lakhs provided as early-stage funding. It helps innovative startups to develop their prototype and work on market development etc. 

Aims Of Mission Startup Karnataka - Idea2PoC/ Elevate 2022

Aims Of Mission Startup Karnataka - Idea2PoC_ Elevate 2022

The Elevate – Idea2PoC scheme of Mission Startup Karnataka is an initiative that has been launched to fulfill the following aims :

  • The startups Karnataka should have a comprehensive entrepreneurship platform
  • Mentoring made accessible
  • Opportunities to grow their network
  • Provide Funds
  • Idea Validation
  • Incubation assistance
  • Detailed sessions on accounting, legal, and emerging tech

The Evaluation Process in Startup Karnataka

The evaluation process for the challenge is planned in a very detailed and extensive manner. The Government here is the facilitator who connects the industry experts to the budding entrepreneurs. A simple timeline of the process looks like this – pitching innovative startup ideas followed by shortlisting pitches selected for the Karnataka Government Startup Funding aid for Startup Karnataka.  

There is a detailed process of evaluation which is divided into 4 stages. The main objective of this rigorous process is to search for the most deserving winner. At each stage, each startup will be evaluated for various parameters on a total of 100 marks by the Jury. The Additional Chief Secretary, Department of Electronics, IT, BT and S&T, Government of Karnataka, is the chairman of the Idea2PoC Evaluation Committee. Along with that other industry representatives from IITB, ABLE, NASSCOM, STPI, IESA, and ABAI are on board as the Committee.

Eligibility to apply for Startup Karnataka

Let’s dive into the details of eligibility criteria for Elevate Kalyana Karnataka – 2022, AMRITA – 2022 and ELEVATE UNNATI – 2022.

Elevate Kalyana Karnataka – 2022 Eligibility

  • Only startups from Bidar, Kalaburagi, Raichur, Yadgir, Ballari, Vijayanagara, and Koppal districts can apply to Elevate Kalyana Karnataka 2022.
  • An entity registered/incorporated in Karnataka or is registered as a partnership firm or a limited liability partnership as per the respective Acts.
  • The Total revenue generated (as turnover) since the date of incorporation should not be more than INR 100 crore.
  • Should not be older than 10 years from the date of incorporation or registration.
  • One of the Directors/Partners must be from Kalyan Karnataka and should hold a minimum of 51% share in the company.
  • Should possess HK/KK/371(J) Certificate if the startup belongs to Kalyan Karnataka. Must be incorporated in Karnataka.
  • The Director/Partner who belongs to the Kalyan Karnataka must be a part of the startup business for a minimum of 3 years from the day they start receiving the benefits from the Department.
  • Terms and conditions of ownership should be intact and must not be modified to his or her advantage throughout the project course.

AMRITA - 2022 (OBC) Eligibility for Startup Karnataka

  • An entity registered/incorporated in Karnataka or is registered as a partnership firm or a limited liability partnership as per the respective Acts.
    The Total revenue generated (as turnover) since the date of incorporation should not be more than INR 100 crore.
  • Should not be older than 10 years from the date of incorporation or registration.
    Startups/Entity on the lines of innovation, development, or products/process/service improvement or is it a scalable business model and has a good potential for employment generation and wealth creation.
  • One of the Directors/ Partners must be from the OBC community and has a 51% share in the business.
  • The Director/Partner who belongs to the OBC community must be a part of the startup business for a minimum of 3 years from the day they start receiving the benefits from the Department.
  • These Directors/Partners must have a valid digital caste certificate issued by the Revenue Department of the Government of Karnataka along with a valid RD number.
    Terms and conditions of ownership should be intact and must not be modified to his or her advantage throughout the project course.

ELEVATE UNNATI - 2022 Eligibility

  • An entity registered/incorporated in Karnataka or is registered as a partnership firm or a limited liability partnership as per the respective Acts.
    The Total revenue generated (as turnover) since the date of incorporation should not be more than INR 100 crore.
  • Should not be older than 10 years from the date of incorporation or registration.
    Startups/Entity on the lines of innovation, development, or products/process/service improvement or is it a scalable business model and has a good potential for employment generation and wealth creation.
  • One of the Directors/ Partners must be from the OBC community and has a 51% share in the business.
  • The Director/Partner who belongs to the OBC community must be a part of the startup business for a minimum of 3 years from the day they start receiving the benefits from the Department.
  • These Directors/Partners must have a valid digital caste certificate issued by the Revenue Department of the Government of Karnataka along with a valid RD number.
    Terms and conditions of ownership should be intact and must not be modified to his or her advantage throughout the project course.

How To Go About Startup Karnataka Registration Process?

The startup companies in Karnataka and the budding entrepreneurs with their innovative startup business ventures must register for the idea2PoC/ Elevate Program organized by the Startup Karnataka (Government of Karnataka) to avail of the assistance provided by the government. It is an excellent opportunity for all innovative startups to gain initial momentum for their growth and development.

Egniol Services assists SMEs, startups, entrepreneurs, etc in the process of applying for such Government Grants and Funds. Contact Egniol Services to begin the process of Startup Karnataka Registration for your business today. Call the experts at Egniol to know more about the Karnataka Startup Mission and its details.  

Register Your Business As An LLP Company To Enjoy These Benefits

Register Your Business As An LLP Company To Enjoy These Benefits

Have You Incorporated Your Company?

Have you thought about incorporating your company? If not then you must give it a thought. There are numerous benefits of incorporating your company. But before beginning with the process have you decided which entity you are going to register your company as? There are several types of company incorporation. We suggest you go for an LLP Company.

What is LLP Company?

What is an LLP Company

Let us begin with understanding the meaning of LLP Company. LLP Company full form – Limited Liability Partnership has three keywords in it, out of those the first two are self-explanatory and the third one depicts the partnership aspect of the entity. Basically, an LLP Company is an entity that holds the traits and features of both the partnership firm and the company. 

LLP Companies in India are regulated under the Limited Liability Partnership Act, 2008. An LLP Company requires a minimum of 2 partners in order to incorporate while having no limit for the maximum number of partners. If there are more than 2 partners then there need to be 2 main designated partners out of which at least one of them should be a resident of India.

Characteristics Of LLP Company

These features make an entity an LLP Company in India.

  • A separate legal entity.
  • The liability of each partner is limited to the contribution made by the partner.
  • Low cost of forming an LLP company.
  • Decreased compliance and regulations.
  • Does not require a minimum capital contribution.
  • Minimum 2 partners required to incorporate an LLP Company.

Advantages You Can Avail Being LLP Company

  • Low-Cost Registration

The formation of an LLP Company does not require much investment. In comparison to other companies, the cost of registering an LLP Company is lower than others.

  • Less Compliance

An LLP Company follows a lesser compliance burden and requires to submit just a couple of statements viz. Annual Return and Statement of Accounts & Solvency.

  • Limited Liability

Limited liability of the partners involved. It is limited to the contribution made by the partners. The partners are not liable personally for any losses incurred but are limitedly liable for the contribution made by them.

  • Doesn’t require a minimum capital contribution

A minimum capital contribution is not required for an LLP Company. It can be started without any minimum capital.

  • Separate Legal Entity

An LLP is a separate legal entity and is distinct from its partners. The signing of contracts happens under the name of the LLP which increases the trust of stakeholders. It also ensures that only the name of LLP is used even when sued.

  • Taxation
    There are certain tax benefits for an LLP Company in India.

Thinking Of Limiting Your Liabilities?

You must be thinking about registering your business as an LLP Company. Wondering how to go about it? You can easily register your company as an LLP with Egniol Services. All these benefits are just a call away. 

We at Egniol provide services to small and medium-sized businesses for their growth and developmental needs. Egniol is the one-stop solution for all your business needs. Contact us to apply for the registration of your business as an LLP Company. 

What Is Atal New India Challenge 2.0

Innovators Apply For Atal New India Challenge 2.0 Now

What Is Atal New India Challenge 2.0?

Did you know, your company could get assistance from the government for standing out of the crowd and delivering a meaningful impact? This assistance is provided under flagship programs of the government. These are the most important programs that aim at addressing the major challenges of the nation. 

The Atal New India Challenge program was launched on 28th April 2022, by the Atal Innovation Mission. It is in accordance with the NITI Aayog. The aims and goals of Atal New India Challenge 2.0 are mainly based on technological innovations. The innovations which solve the State’s sectoral challenges and are relevant to societal issues.

Aims Of The Program

Atal New India Challenge 2.0 is aimed at incentivizing innovations that fall under the areas that are critical for the growth and development of the Nation. Dr. S. Chandrasekar, Secretary, DST, assured that the government will support the innovations which are revolutionary and motivate the startups to work towards difficult challenges while launching Atal New India Challenge. He talked about the sectors which are in dire need of startups such as Agriculture and Health with other difficult sectors like Chemicals and Pesticides.

Atal New India Challenge 2.0 primarily aims at addressing the Commercialization Valley of Death which supports the innovators to grow through the risks of resource access for the testing, pilot, and market establishment. Atal India New Challenge pushes prototype stage innovations and the shortlisted startups get the support to reach the commercialization stage over a time period of around 12-18 months with funding up to INR 1 crore. Along with the funding, another associated support is also provided by the AIM innovation ecosystem.

Challenges

 

The Atal New India Challenge 2.0 Program aims at 18 challenges mainly from these Sectors along with an open invitation category:-

  • Agriculture – Millet
  • Post 
  • Women Centric 
  • Drinking water and Sanitation
  • Renewable Energy and Clean-Tech
  • Education

Agriculture - Millet

Challenge 1

Primary Processing – A solution required to elevate the efficiency of millet processing viz. Dehulling, Separation, Polishing, etc. The solution should be such that it retains nutritional value while being effective at the same time.

Challenge 2

Decentralized Processing – Lack of machinery/ Infrastructure that enables decentralization process for small scale. It should be affordable and user-friendly for farmers, FPOs, and consumers.

Challenge 3

Shelf-Life Augmentation – Need a solution to elongate the shelf life of millets, processed grains, flours, etc. It should aim at making it on par with the competing crops.

Challenge 4
Supply Chain Linkages – A solution for market linkage that improves the supply of inputs (HYV Seeds, etc) and outputs (distribution, etc).

Post

Challenge 1
Digital Address System – Require Use Cases Applications (APIs) that interact with digital address central infra in the upcoming time for diverse use cases of digital address.

Women Centric Challenges

Women Centric Challenges in Atal new india challenge

Challenge 1

Innovation for Women Hygiene – Need Sanitary napkins that are low cost, eco-friendly and sustainable compostable. Along with that, innovation for the detection and recovery of UTI and toilet concept for women while traveling.


Challenge 2

Innovation for Women Safety – Safety Gadgets, better life-saving applications, and tech for safety for violence against women.


Challenge 3

Professional Networking Opportunities for women – ‘women only’ business networking app/self-help groups, support women-led startups.


Challenge 4

Innovation for working mothers – electric breast pumps which are silent and made for on-the-go and child safety-related innovations.


Challenge 5

Lifestyle of Rural Women – Easing out the life of rural women by developing innovation for water collection and supporting them in their knowledge of natural resources management.

Winners Get Up To INR 1 Crore Of Funding

The Atal New India Challenge program has rolled out great advantages for the innovators out there. Each winner of the ANIC is eligible for funding of INR 1 crore which is divided into 2 parts – Grant-in-AId and Equity Investment. The Grant-in-Aid is of up to INR 80 lakhs and is a non-returnable grant. The Equity Investment is up to INR 20 Lakhs and 2% of the equity of the startup must be held by the government.

Apply Today

Listen up, innovative startup owners! Are you ready to make the most out of this program? Gear up and apply before the deadline. Are you trying to figure out how to go about this? You can apply with the assistance of Egniol Services. Our professionals deliver a hassle-free procedure of application for your business. 

Our professionals will be engaged in a start-to-finish process of your application. Contact Egniol services to know more about the other aspects like eligibility and timeline. Write to us or call us to apply for the Atal New India Challenge 2.0 program today. 



Venture Capital Assistance Scheme – Startup India - Egniol

Venture Capital Assistance Scheme – Startup India

When it comes to agriculture, the venture capital assistance program has been a godsend.

The agricultural sector in India is the largest private sector in the country. As people’s eating habits shift across the country, there is a great need for reasonably priced food products, which means that the industry has a great deal of room to expand.

The agricultural industry in India is a success thanks to the way it was framed. India’s economy relies heavily on agriculture. The agricultural sector provides income for more than 70 per cent of rural households. The agricultural industry in India is vital to the country’s economy. About 60% of the workforce and 17% of GDP come from agriculture. As a result, the Indian government has a pressing obligation to support the agricultural sector in every possible way.

What exactly is a Venture Capital Assistance Scheme?

What exactly is a Venture Capital Assistance Scheme

Scheme administered by the Small Farmers Agri-business Consortium; also known as the Venture Capital Assistance Scheme. The success and prosperity of farmers and their agricultural enterprises are the intended outcome of this plan. Loans to farmers whose projects meet the criteria set out by the Venture capital assistance scheme will help them acquire the necessary funds to see those projects through to fruition. It’s one of the country’s finest initiatives to promote agricultural entrepreneurship. To make up for funding shortfalls, the program provides zero-interest loans to the agricultural sector.

A program like this is a huge boon to people and communities that want to pursue agriculture as a profession and launch their businesses. With the help of the scheme, agribusiness entrepreneurs can get financial backing for their ventures. With the help of the Project Development Facility, potential investors can get the funding they need to create detailed project proposals that can be taken seriously by financial institutions.

Who Can Apply?

The following individuals are eligible to receive funding from the Venture Capital Assistance scheme:

  • Individuals.
  • Farmers.
  • Partnership/ Proprietary firms.
  • Producer Groups.
  • Self-help Groups (SHG)
  • Companies
  • Agri-export units.
  • Agriculture graduates taking up agri-business projects.

Institutions Eligible for Financing in Venture Capital Assistance Scheme

Nationalised banks, SBI & its Subsidiaries, IDBI, SIDBI, NABARD, NCDC, RRBs, and other State Financial Corporations are all examples of banks and financial institutions regulated by the Reserve Bank of India that have more than 50% ownership by the Central or State Government.

Goals of the Venture Capital Assistance Scheme

The scheme’s primary goals in providing funding for startups are as follows:

  • To assist and aid entrepreneurs in establishing an agribusiness venture that is acceptable to banks and other financial institutions.
  • With the right policies in place, we can help steer agricultural entrepreneurship in the right direction.
  • To entice private Venture Capital Assistance Scheme into agribusiness endeavors.
  • Facilitate agribusiness initiatives’ backward linkages.
  • To schedule training sessions and guarantee regular visits from Agribusiness owners.
  • The current state and national SFAC must be fortified.
  • The Project Development Facility is being used to encourage farmers to form SHGs.

The purpose of the Venture Capital Assistance Scheme is to help agribusinesses across the country succeed. Farmers must be prioritized for the time being, and they must be given every chance to improve their situation so that they can help the agricultural sector and the Indian economy as a whole. All that needs to be done is for people to learn about these scams. We at Egniol are committed to assisting you with everything you need to avail the benefits of the venture capital assistance scheme because our team of experts is just a click away.

prism scheme and Its importance in the present day

PRISM Scheme And Its Importance In The Present Day.

Innovation in technology is essential for progress. Our government has implemented the PRISM scheme to support new ventures, SMEs, and innovators in order to compete in the global tech race. With this plan, they can gain access to much-required funding.

Scientific startup companies have seen significant growth recently. The PRISM program was developed by the government to encourage the adoption of scientifically sound technological strategies. PRISM is an acronym that stands for Promoting Innovation in Individuals, Startups, and MSMEs.

What Exactly Is the PRISM Scheme?

what exactly is the prism scheme

Technology advancement was prioritised with the launch of the “Technopreneur Promotion Programme” (TePP) in 1998–1999. After more than two decades, this programme has been revised and is now known as the Program for the Promotion of Innovations by Small and Medium-Sized Enterprises (PRISM). The goal of this programme is to help an individual innovator become a prosperous technopreneur by supporting and encouraging entrepreneurship on the part of the Government of India’s Ministry of Science and Technology.

It’s a way to get money to help tech innovators be as creative as they can be. Student innovators are recognised as a distinct group in the PRISM scheme, along with more traditional business owners and tech experts. Therefore, the scheme is open to anyone who has a workable, commercially viable, and new idea.

Who Can Apply in PRISM Scheme?

In the PRISM scheme, there are two stages. Phase one targets people from India, including academics, citizens, and creative thinkers.

The first stage is typically reserved for entrepreneurs whose ground-breaking ideas have the potential to become profitable businesses.

The second phase of PRISM is for innovations or innovators who have shown proof of concept with funding from the government or an established institution. Proposals for research and development are also welcome, as are collaborations with independent organisations like labs and universities.

It also helps groups that are established as separate entities under a different law, such as societies registered under the Society Registration Act, of 1860 or the Indian Trusts Act, of 1882.

Advantages of the PRISM Scheme for New Businesses

  • The scheme’s greatest benefit is that it is distinct from alternative startup loan assistance programmes. The Ministry of Science and Technology provides the funding for this project. This funding could also be used to create a working prototype and begin marketing the finished product.
  • The government’s assistance with evaluations and technical, and financial viability studies can point out where a tech startup needs to make improvements.
    The PRISM programme hopes to aid inventors in mastering the basics of the patenting process.
  • Beginning with the conceptualization of an idea, these professionals aid startups with both the technical and strategic development necessary for the commercialization of the project.
    As a result of the proliferation of government programmes like Startup India, Make in India (https://www.pmindia.gov.in/en/major initiatives/make-in-India/), and Digital India, technological innovation has gained new prominence. Therefore, the PRISM plan is intended to encourage even more creative thinking.

Focus Areas of the Scheme

Although the programme is available to any new technology venture, priority will be given to specific foci. Here are some of them:

  • Green technology
  • Clean energy
  • Industrially utilisable smart materials
  • Waste to wealth
  • Affordable healthcare
  • Water and sewage management
  • Any other technology in a knowledge-intensive area
    A startup idea, prototype, or concept in these areas is more likely to be prioritised for funding by the Ministry of Science and Technology. In the event that beneficiaries abandon the project, innovators must return the funding, plus 12% interest, to the DSIR. Therefore, get in touch with our team of experts for more detailed information and apply today. And our team will do everything to assist you in every step of the process.
North East Entrepreneurship Development Programme (NEEDP)

North East Entrepreneurship Development Programme (NEEDP)

What Is North East Entrepreneurship Development Programme (NEEDP)

To promote economic growth and job creation in the North Eastern region, the North Eastern Council (NEC) and the Indian Institute of Management (IIM) Calcutta Innovation Park have launched the North East Entrepreneurship Development Programme (NEEDP).

To this end, the North East Entrepreneurship Challenge (Hunt) is being held for entrepreneurs both established and aspiring in all eight North Eastern states. The goal is to select 270 entrepreneurs from this pool using a transparent, methodical selection process that guarantees equal participation from all regions. Pre-revenue stage start-ups will be guided via a pre-incubation programme, while revenue-stage start-ups will be put through an incubation programme.

The goal of this initiative is to help business owners and hopeful entrepreneurs in all the northeastern states expand and succeed.

Meanwhile, 120 start-ups will each receive a commercialization grant of Rs. 3 Lakh, while the top 20 will each receive a grant of Rs. 7 Lakh. Rs. 1 Lakh will be offered as a prototype grant to each of the 150 pre-incubation groups, and another Rs. 4 Lakh will be awarded to the top 25 achievers. This overall means that 270 start-ups can avail of a grant of up to Rs 10 lakh.

To aid in their commercialization and expansion, these firms will be chosen to participate in incubation and pre-incubation programmes. NEC’s initiative to build an inclusive entrepreneurship ecosystem will benefit the local economy and create jobs.

In addition, the business owners will be linked to a vast network of mentors and corporate executives. These business owners will be able to participate in boot camps, attend knowledge sessions hosted by industry experts, and access a formalised incubation curriculum by joining north east entrepreneurship development programme (NEEDP)

Benefits Of North East Entrepreneurship Development Programme (NEEDP)

Benefits of North East Entrepreneurship Development Programme (NEEDP) - Egniol 2
  • For Incubation Group: Each of the 120 start-ups will receive a Rs. 3 lakhs grant toward commercialization, with the best 20 receiving an additional Rs 7 lakh.
  • For Pre-incubation Group: A total of 150 start-ups will each receive a grant of Rs. 1 lakh to use toward a prototype, and the top 25 will each receive an additional Rs. 4 lakhs.
  • Get in touch with successful businesspeople, angel investors, and corporate executives willing to share their knowledge and experience as mentors.
  • Incubation programmes with a framework for instruction. Speakers at the boot camps and knowledge sessions will include IIMC professors, graduates, ecosystem partners, and subject-matter experts.

Timeline of NEEDP

  • Registration Starts: 2nd September 2022
  • Last Date for Applications: 21st November 2022
  • Announcement of Shortlisted Candidates: December 2022
  • Selection Events: December 2022
  • Start of Incubation/Pre-incubation: January 2023

Eligibility Criteria for North East Entrepreneurship Development Programme (NEEDP)

Eligibility Criteria of North East Entrepreneurship Development Programme (NEEDP) - Egniol 3

Pre-incubation:

  • The applicant must be an Indian citizen.
  • The applicant must be a resident of one of India’s eight North Eastern states.
  • The candidate must have a commercially viable idea or working prototype.

Incubation:

  • The applicant must be an Indian citizen.
  • The applicant must be a resident of one of India’s eight North Eastern states.
  • The applicant must be in the early stages of income generation or have a Proof of Concept for the business strategy.
  • At least one member of the team must be a full-time employee of the company.

In the last five years, the region has been slowly but unmistakably engulfed by the start-up entrepreneur craze. The region has become aware of the immense potential of entrepreneurship, which might alleviate a variety of issues, including unemployment and a lack of national exposure to local culture and resources. While state governments have presented a number of entrepreneurship development projects, this is the first time that a large-scale programme for entrepreneurs from the whole Northeastern area has been created.

Given the scope and scale of the initiative, the North East Entrepreneurship Development Programme (NEEDP) is anticipated to have a significant impact in terms of fostering the emergence of a new generation of first-generation entrepreneurs and strengthening the entrepreneurship ecosystem in the region as a whole.

Do not allow your start-up to fail from a lack of direction and capital. The North East Entrepreneurship Programme is meant to assist you in charting a path to success through individualised mentoring, capacity building, and guaranteed funding. Give yourself a chance to be one of the 270 entrepreneurs to win money and incubation help. Egniol will assist you during the complete scheme application procedure.

MSME Registration : Benefits, Importance & Documents Required | Egniol

MSME Registration : Benefits, Importance & Documents Required

MSME Registration

The Government of India is responsible for implementing guidelines, laws and policies, making it no different for MSMEs. The regulation for MSME is carried out by the Ministry of Micro, Small and Medium enterprises with assistance and guidance from the government throughout the country. Hence, Small and Medium Enterprises are provided with incentives, assistance and access to become as good and competitive in comparison to other SMEs.

It is a very well-known fact that a major section of the Indian Economy is dependent on MSMEs, which means that the livelihood of many people is dependent on MSMEs, meaning that MSMEs play a significant role in our GDP contribution. For enterprises to grow, the government has started an MSME registration program.

Importance Of MSME Registration

MSME Registration : Benefits, Importance & Documents Required | Egniol

It is true that MSMEs are the backbone of our country and contribute a significant percentage to the Indian currency, registering as MSME online with the government under this structure provides several benefits like taxes, the beginning of business and much more. For MSMEs to get more serious and competitive in the market the portal for MSME registration went live on 2nd October 2006. Earlier to avail the benefits of the Government, MSMEs had to have a restricted investment. The MSMEs are categorised by the amount of investment plough in by them into the business. As micro companies are those whose investments are up to Rs. 25 lacs, small companies’ investments are up to Rs. 5 crores and medium, it is up to Rs. 10 crores. The same for the service businesses will be the amount for micro businesses up to Rs. 10 lacs, for small businesses up to Rs. 2 crores and for medium businesses up to Rs. 5 crores. 

Now, the MSME classification is changed by Atma-Nirbhar Bharat Abhiyan, where the industrial and service sector categories are not different and have integrated the composite criteria for both venture and yearly income. Now under the new categorised standard, if the annual revenue of a company is less than Rs. 5 crores, for a small company it needs to be up to 10 crores, a company with Medium-sized businesses with assets of up to 50 crores and revenues of more than 25 crores would be classified as large companies.

Documents Required For MSME Registration

Proper documentation is required for MSME registration online. To register MSME PAN and Adhar card is required. These documents are all that are required for the registration process. Company-related matters will be directly downloaded by the MSME website from PAN card to GST and all other tax-related information.

Benefits Of MSME Registration

MSME Registration : Benefits, Importance & Documents Required | Egniol

MSME registration benefits everyone who registers, and here is a list of a few of the many benefits that your business will enjoy: 

    1.  MSME certificate holders get a loan at a much lower rate than from a bank.
    2. One who holds an MSME certificate also gets the benefit of tax exemption.
    3. Government issues licences and certificates so in this case as well registered MSMEs are given more preference.
    4. For an enterprise to get easy access to loans and credits, MSME certificates are a must.
    5. If a registered MSME is applying and getting an ISO certificate, then they will be reimbursed for the cost incurred to get the certificate.
    6. It allows keeping credit of MAT (Minimum Alternate Tax) to carry forward for 10 to 15 years.
    7. The overall cost of starting an industry decreases after various discounts and rebates post-MSME registration.
    8. It gets very easy to acquire government tenders because the Udhyam registration portal of government E-Market, acquiring E-Tenders is easy and direct.

Therefore, this shows how important it is to register for MSME. Registering for MSME not only gives you an MSME licence but along with that comes a whole umbrella of benefits like tax exemptions, low-interest rate loans, government projects, etc. so it is important to register for all small businesses.

And our experts at Egniol provide you with all the knowledge, guidance and help for registering for MSME and many other required services that have benefitted more than 200+ till now.

What is National Agriculture Infra Financing Facility? - By Egniol

National Agriculture Infra Financing Facility

What Is National Agriculture Infra Financing Facility Scheme (NAIF)?

A well-developed infrastructure scheme like National Agriculture Infra Financing Facility Scheme is essential for agriculture to progress and for increasing the output dynamics. Until infrastructure, particularly in the post-harvest phase, is developed, the fruits of farmers’ labour will not be used to their full potential, and they will not receive a just price for their efforts. The growth of such infrastructure needs to account for natural hazards, geographical differences, human resource development, and the maximisation of our finite land’s potential.

For this reason, the Department of Agriculture and Food and Workforce Development (DA&FW) developed the Central Sector Scheme to attract a medium-to-long-term debt financing facility to fund investments in economically sound projects involving postharvest management infrastructure and farming assets for communities.

Subsequently, it was announced in the 01.02.2021 budget that APMCs would also be eligible to receive benefits from the scheme. With the Cabinet agreement, the scheme was revised to be more welcoming of many perspectives.

Objectives of National Agriculture Infra Financing Facility Scheme (NAIF)

What is National Agriculture Infra Financing Facility? - By Egniol

Multiple objectives of national agriculture infra financing facility can be accomplished with the help of this finance facility for the various players in the agricultural ecosystem.

A. Farmers (including FPOs, PACS, Marketing Cooperative Societies, and Multipurpose cooperative societies)
  • A better marketing system would facilitate farmers’ increased value realization on by enabling them to sell directly to a wider audience of consumers. The result will be a rise in farmers’ average income.
  • Farmers will have fewer post-harvest losses and fewer need for intermediaries if they invest in logistical infrastructure. This will increase farmers’ autonomy and enhance their market access.
  • Farmers will be better able to maximise profits by timing market sales with access to modern packaging and cold storage systems.
  • Farmers may save a lot of money by pooling their resources and using them to boost output and maximise the efficiency of their inputs.
B. Government
  • Through interest subvention, incentive, and credit guarantees, the government can steer priority sector lending toward economically feasible projects. Because of this, a virtuous cycle of agricultural innovation and private-sector investment will begin.
  • Government efforts to lower national food waste percentages as a result of post-harvest infrastructure upgrades will position the agricultural industry to compete with global norms.
  • Central/State Government Agencies and local governments will be able to design successful PPP projects to attract investment in agricultural infrastructure.
C. Agri entrepreneurs and start-ups
  • If investors are willing to put money specifically toward the agricultural sector, innovative new technologies like the Internet of Things and artificial intelligence will be implemented.
  • Connecting the ecosystem’s participants will increase opportunities for business owners to work with farmers.
D. Banking ecosystem
  • With Credit Guarantees, incentives, and interest subvention, lending institutions will be able to extend credit with a lower level of risk. This plan will aid in expanding their consumer base and diversifying their business.
  • The refinancing facility will enable cooperative banks and RRBs to play a larger role.
E. Consumers
  • With fewer inefficiencies in the post-harvest ecosystem, the primary advantage for consumers will be a greater proportion of products reaching the market and, consequently, improved quality and prices. Overall, all eco-system participants will profit from the funding facility’s investment in agricultural infrastructure.

Who Can Apply?

What is National Agriculture Infra Financing Facility? - By Egniol
  • Agricultural Produce Market Committee
  • Agri-Entrepreneur
  • Central sponsored Public-Private Partnership Project
  • Farmer
  • Farmer Producers Organization
  • Federation of Farmer Producer Organisations
  • Joint Liability Groups
  • Local Body sponsored Public-Private Partnership Project
  • Marketing Cooperative Society
  • Multipurpose Cooperative Society
  • National Federations of Cooperatives
  • Primary Agricultural Credit Society
  • Self-Help Group
  • Federations of Self-Help Groups
  • Start-Up
  • State Agencies
  • State Federations of Cooperatives
  • State-sponsored Public-Private Partnership Project.

Loans up to Rs. 2 crores would be eligible for credit guarantee coverage from this financing facility under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme. The government will fund the cost of this insurance. The DA&FW FPO promotion scheme includes a credit guarantee facility that can be used by FPOs.

Interest on loans taken out under this financing facility would be subsidized at a rate of 3% per year, up to a maximum of 2 crores. Subsidy funding will be provided for a maximum of 7 years. Whenever a debt exceeds 2 crores, the amount of interest that can be subsided is capped at 2 crores. The National Monitoring Committee has the authority to establish maximum levels and fixed percentages of financing for private entrepreneurs from the total financing facility.

The Scheme’s implementation period extends from the 2020-21 fiscal year to the 2032-33 fiscal year. The program’s loan disbursement period is set to conclude in six years.

EGNIOL‘s objective is to create India’s largest MSME and start-up ecosystem. In order to accomplish this, Egniol offers comprehensive solutions for the broadest spectrum of government benefits, management consulting, training, and mentorship for MSMEs & start-ups. Our mission is to be the go-to partner for all of a start-up’s needs, providing them with the proper advice for future growth. Contact us now for more information on this scheme or for consultation!