ISB gives 100 ST entrepreneurs from Telangana a shot at starting-up

Today, under the Chief Minister ST Entrepreneurship and Innovation Scheme, Indian School of Business welcomed 100 youngsters from some of the most backward tribes like Andh, Chenchu, Pardhan, Koya, Thoti and Yerukula and from different districts of Telangana. This is the second batch of Scheduled Tribe entrepreneurs who have the chance to start and establish their own businesses, thus, creating more jobs.  

  
To secure bank loans, these aspiring entrepreneurs will be trained in the preparation of detailed project reports (DPRs) by experienced faculty at ISB. These faculty members will also serve as mentors for the entrepreneurs for three months. If a DPR is selected by the bank, the candidate will receive 50 per cent of the proposed amount from the bank as collateral-free loan and 35 per cent as subsidy money from the department. 

As per the Tribal Welfare Department, who is implementing the scheme, from the first batch of 100 ST candidates who were selected for the scheme, the banks have already sanctioned loans for 45 beneficiaries with a project cost of Rs 51.97 crore. The documentation of DPRs with a proposed cost of Rs 12.19 crore is ongoing for 11 candidates and the DPRs of 27 candidates with a proposed cost of Rs 29.62 crores were received recently which will be processed.

The second batch of candidates selected for the scheme were selected out of the 931 candidates who had appeared for the screening test. However, the number of women candidates among them is low at 14.