674 Startups from NE recognised till January 2022; 21 from Nagaland

STARTUPS IN NORTH-EAST*

Source: Ministry of Development of North Eastern Region, GoI

Morung Express News 
Dimapur | February 8

A total of 674 Start-ups from North East Region including 21 from Nagaland has been recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) till January 31, 2020.

Assam has the highest number of Startups, followed by 68 in Manipur and 47 in Tripura, and informed the Minister for Development of North Eastern Region, G Kishan Reddy in a written reply in the Lok Sabha on February 7. 

Nagaland was placed fourth with 21 Startups, followed by 17 in Meghalaya. Arunachal Pradesh and Sikkim had 8 each while 6 Startups were recognised in Mizoram.

Reddy also highlighted that various stakeholders in the Startup eco-system such as incubators, accelerators and other venture funds have emerged in the NE in the recent past.

Besides, the North East Development Finance Corporation Ltd. has released a total of Rs 41.14 crore to 22 Start-ups till date through North East Venture Fund (NEVF) and a total of 36 proposals have received in principle commitment of Rs 74.76 crore, he added. 

Startup India initiative
The flagship Startup India initiative, announced by Prime Minister Narendra Modi on August 15, 2015, is aimed at building a “strong eco-system for nurturing innovation and Startups in the country that will drive sustainable economic growth and generate large scale employment opportunities.”

Further, an Action Plan comprising of 19 action items spanning across areas such as “Simplification and handholding”, “Funding support and incentives” and “Industry-academia partnership and incubation” for Startup India was unveiled by Prime Minister on January 16, 2016

The DPIIT under the Union Ministry of Commerce and Industry is mandated to coordinate implementation of Startup India initiative with other Government Departments.