To apply for the Nano Unicorn Scheme, you must:

• Must be a resident of Odisha
• Must be between the ages of 18 to 35 years. For women, PVTGs, Rehabilitated bonded labour, Victims of trafficking, Manual scavengers, HIV positive, must be between the ages of 18-45 years.
• Have completed a short-term skilling course under recognized programs like PLTP, NUA Odisha or long-term skilling course from institutions like ITI, Polytechnics or the World Skill Centre.
• Currently unemployed/does not own any enterprise, and have not accessed loans through any similar state/central Government schemes at the time of application can only apply.

You can apply by submitting an online application through the Skill Odisha website https://skillodisha.gov.in/nano-unicorn The application will include personal information, business ideas, and other required documents like Aadhar, Skill Certificate, etc This application is then reviewed by the District Skill Executive Committee (DSEC).

The selection process involves:

• Eligibility Check.
• Assessment Centre Activity that comprises of 3 things as below .
• A short multiple-choice written test.
• A group activity.
• A personal interview with a panel. Your application and business proposal will be assessed based on the feasibility of your idea, its potential to create jobs, and other criteria.
• 10 Days EDP training.

Selected candidates undergo a 10-day Entrepreneurship Development Program (EDP), where you will:

• Learn how to create a business plan.
• Understand the loan disbursement and repayment protocols.
• Receive mentorship schedules and go through an assessment.
• At the end of the training, successfully completed training students will receive a certificate.

Upon successful completion of the EDP training, participants will receive ₹1 lakh in refundable seed fund. The funding is provided via Direct Benefit Transfer (DBT) (Current Account only) and must be repaid according to the scheme’s terms.

• No interest is to be charged if paid between 4th and 12th Month from disbursement.
• 4% Interest will be charged on the remaining 13th Month to 24thMonth.
• 8% Interest will be charged on the remaining 25th month to 32rd Month.
• Remaining to be collected in equal instalments between 33rd month and 36th month.

One can start repayment, post 3 months of receiving the refundable seed fund.

Each Nano Unicorn is assigned a mentor for one-on-one guidance throughout the first year. You will receive:

• Regular mentorship sessions to assist with business challenges.
• Quarterly reviews to monitor progress and make course corrections.
• Networking opportunities with other Nano Unicorn entrepreneurs.

As a Nano Unicorn, you are expected to employ at least one or more individuals as part of your business. These employees will serve as apprentices/employees and may be groomed to become future Nano Unicorns themselves, continuing the cycle of job creation.

As a Nano Unicorn, you are expected to employ at least one or more individuals as part of your business. These employees will serve as apprentices/employees and may be groomed to become future Nano Unicorns themselves, continuing the cycle of job creation.

Yes, you can choose to repay the financial assistance before the end of the repayment schedule. There are no foreclosure charges if you decide to repay the refundable seed fund early. Repaying before the timeline of 36 months can help reduce the total interest amount payable.

If your business is facing losses, it is important to contact your assigned relationship executive immediately. The mentorship program under the Nano Unicorn Scheme is designed to help entrepreneurs navigate business challenges. Additionally, you can request a review session with the scheme's implementation team to explore potential support options and adjust your business strategy.

No, the repayment instalments may vary depending on the agreed-upon repayment schedule and the applicable interest rates.