In a significant achievement for India’s entrepreneurship development efforts, the Stand-Up India Scheme has sanctioned more than ₹40,700 crore to over 1.80 lakh beneficiaries across the country in its seven-year journey. The scheme, which was launched on April 5, 2016, has recently been extended until 2025, marking a continued commitment to fostering entrepreneurship at the grassroots level.
The initiative, particularly impactful in Tamil Nadu’s vibrant startup ecosystem, has emerged as a crucial enabler for entrepreneurs from Scheduled Castes (SC), Scheduled Tribes (ST), and women looking to establish their first greenfield ventures. The program’s success in Tamil Nadu has contributed significantly to the state’s growing reputation as an inclusive startup hub.
Finance Minister Nirmala Sitharaman expressed pride in the scheme’s achievements, stating, “It is a matter of pride and satisfaction for me to note that more than 1.8 lakh women and SC/ST entrepreneurs have been sanctioned loans for more than ₹40,600 crore.” She emphasized how the scheme has created a supportive ecosystem that facilitates the establishment of greenfield enterprises through accessible bank loans from all Scheduled Commercial Banks.
In Tamil Nadu, the scheme has played a pivotal role in transforming the entrepreneurial landscape. Local entrepreneurs have leveraged the initiative to establish businesses across manufacturing, services, trading, and agriculture-allied sectors. The state’s strong banking infrastructure and robust support system have made it easier for beneficiaries to access the scheme’s benefits.
Minister of State for Finance Bhagwat Kisanrao Karad highlighted the scheme’s foundation, noting that it is based on the third pillar of National Mission for Financial Inclusion – “Funding the unfunded.” The initiative has been particularly successful in ensuring seamless credit flow to traditionally underserved segments of society, helping improve the living standards of entrepreneurs and their families.
The scheme’s digital infrastructure, centered around the online portal standupmitra.in developed by SIDBI, has proven to be a game-changer. The portal connects prospective borrowers with more than 8,000 Hand Holding Agencies, providing comprehensive support including skill development, mentorship, and guidance through Entrepreneurship Development Program Centres and District Industries Centres.
Dr. Rajesh Kumar, Director of the Tamil Nadu Startup and Innovation Hub, commented on the scheme’s impact: “Stand-Up India has democratized entrepreneurship in Tamil Nadu. We’ve seen a remarkable increase in first-generation entrepreneurs from underserved communities, particularly women, who are now running successful businesses and creating employment opportunities.”
Key Statistics:
- Total sanctioned amount: ₹40,700+ crore
- Number of beneficiaries: 1.80 lakh+
- Network of support agencies: 8,000+ Hand Holding Agencies
- Duration: Extended till 2025
The scheme’s success in Tamil Nadu has broader implications for the state’s startup ecosystem. It has helped create a more inclusive entrepreneurial environment, bringing diverse perspectives and innovations to the market. The initiative has also contributed to job creation, with many beneficiaries expanding their operations and hiring local talent.
Looking ahead
The extension of the Stand-Up India Scheme until 2025 promises to further strengthen Tamil Nadu’s position as a leading startup hub. The continued focus on supporting underserved entrepreneurs is expected to drive innovation, create employment opportunities, and contribute to the state’s economic growth.
