The Pradhan Mantri Yuva Yojana Scheme is the flagship programme of the Ministry of Skill Development and Entrepreneurship. PMYY aspires to create jobs through entrepreneurship education, training, capacity building, mentorship, and assistance. Apprenticeships in specific trades do not guarantee that trainees will be capable of running their own businesses. As a result, in order to complete the cycle, skilling and entrepreneurship must work in tandem.
The PM-YUVA Yojana also fosters social companies for inclusive growth and gives entrepreneurs easy access to a support network. It provides young people with simple access to a 14 lakh-person entrepreneurship support network, allowing them to create as many enterprises as possible in five years (2016-17 to 2020-21).
The initiative will be carried out through a network of Entrepreneurship Resource and Coordination Hubs (E-Hubs). The Nodal E-Hub, Delhi-NCR is in charge of ensuring the on-the-ground execution of the PM YUVA initiative in the Delhi-NCR region. Mr. Manu Sakunia is the Nodal Manager of the Noida Nodal E-Hub.
Features of the scheme
- Potential and early-stage entrepreneurs should be educated and equipped.
- Entrepreneurs are linked in enabling networks of peers, mentors, finances, and business services.
- Entrepreneurship Hubs (E – Hubs) provide assistance to entrepreneurs.
- Encourage social entrepreneurship by catalysing a cultural transformation.
Initiatives taken by the Pradhan Mantri Yuva Yojana Initiatives (PMYY)
The Pradhan Mantri Yuva Yojana (PMYY) offers the following programmes to various types of institutes:
Institute of Higher Learning (IHL) –
Students will have the option of selecting one of six certificate programmes offered by the Institute of Higher Learning. Faculty will facilitate these through the use of this platform, with a strong emphasis on peer learning and the formation of smart, collaborative student teams. The primary goals are to motivate and inspire students to establish enterprises and pursue a career in entrepreneurship, as well as to equip them with the hard skills required to start and run a business. Help youngsters with ideas by providing guidance, networks, and platforms.
Students will gain knowledge of fundamental components of starting a small business, such as inventory management, sourcing, bookkeeping, and financial discipline, as well as digital marketing, general administration, and barefoot managerial skills, through this course at Industrial Training Institutes (ITis). The course helps students capitalise on their occupational abilities while also learning about various government support and funding programmes for launching their own businesses. These opportunities are provided by the Foundation and Advanced Courses.
Higher Secondary (HS) –
Foundation and Advanced Courses for Higher Secondary (HS) Schools will be provided at schools (10+2). The Foundation Course is an introductory course to entrepreneurship in which students learn how entrepreneurs think and operate and are motivated to pursue entrepreneurship as a vocation. Students will learn the core skills required to start and run their own business in the Advanced Course. 15-hour introductory course. Spend 1-1.5 hours per week for three months. An advanced course of 15 hours. Spend 1-1.5 hours per week for three months.
Entrepreneurship Development Centres (EDC)
After finishing this course, EDC applicants would be able to develop their own venture by applying venture creation knowledge and abilities to their field of specialisation. The National E-hub will provide modular courses here for specific business skills such as inventory management, sourcing, bookkeeping, and financial discipline, digital marketing, general administration, barefoot managerial skills, and communication skills, among others, as determined by the National E-hub. The National E-hub, in collaboration with the EDCs, will establish the length of the course.
Eligibility Criteria for benefit under PMYY
The following applicants are eligible for the Pradhan Mantri Yuva Yojana (PMYY) entrepreneurship training and education:
- Students who are receiving or have finished training provided by Industrial Training Institutes (ITIs)
- Students from any unorganised sector in the country’s rural and/or urban areas.
- Women entrepreneurs in the country’s rural and/or urban areas.
- Entrepreneurs who are active in the country’s rural and/or urban areas.
- Students who have completed or are currently enrolled in any courses, including undergraduate programmes, postgraduate or master’s programmes, PhD programmes, degree and/or diploma courses.