Current Development of Startup in NorthEast India

26th Feburary, 2018|by Mrinal Kumar

Image Courtsey: Entrackr

Northeast India (officially called North Eastern Region, NER) is the easternmost region of India representing both a geographic and political administrattive division of the country. It comprises the eight states Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura.

A lot of these North East Indians who travel into the mainstream India are adolescents or in their late teens.These minds are no less than any other mind in this multiverse. As all they lack is opportunity.

In a first-of- its-kind initiative, the Centre is planning to have a venture fund to promote startups in Northeastern states of the country. Addressing a conference organised by industry lobby ASSOCHAM, Minister of State for Development of North Eastern Region (DoNER) Jitendra Singh said India is on the verge of becoming a world power on the basis of the strength of its youth, who comprise over 65 per cent of country’s population and are thus the real torchbearers of ‘Startup India’ mission offering an additional benefit of providing the initial funds to any youngster planning to set up an enterprise.

He said hundreds of queries were pouring in each day with the DoNER Ministry and over 60 proposals were already in the pipeline for consideration, an official statement said.

North-East Venture Fund has been set up by the North Eastern Development Finance Corporation Ltd (NEDFi), which already has the mandate to encourage entrepreneurship in the region primarily by offering support to the first- generation entrepreneurs.

The dedicated Venture fund aims to remove constraints faced by youngster when he sets out to be on his own by providing financial relief. Further it seeks to tap vast unexplored avenues in Northeast for generating livelihood particularly in fruit, food, handicraft and tourism industry.

May this be the first ray of hope leading toward a much bright future for every individual of our own country seeking a better understanding of life using their very own idea.

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