SKOCH award | Source: award.skoch.in
Kerala Chief Minister’s Entrepreneurship Development Programme of Kerala Financial Corporation received the prestigious SKOCH Award of 2022.
The award was granted in the 'State-Owned Enterprise' category.
Announced in July 2020, the Programme aims to address 'the issues of shortage of working capital and availability of credit faced by startups and small entrepreneurs'. It was proposed as a solution to the impact of Covid-19 on the state’s economy.
"The project aims to identify 2,000 entrepreneurs per year and plans to launch 1,000 new small and medium ventures every year for the next five years, creating 5,000 new ventures," said CM Pinarayi Vijayan during the launch.
The schme has so far granted a loan of Rs 112 crore to 1,954 MSMEs. As many as 14,952 applications have been received and 2,334 are under processing, the Corporation said.