Dimapur, November 30 (MExN): In a major boost to Nagaland’s entrepreneurial ecosystem, five startups have been awarded a total funding of Rs 1 crore under the Startup India Seed Fund Scheme (SISFS) through the YouthNet Incubation Centre. The initiative aims to provide critical financial assistance for proof of concept, prototype development, product trials, market entry, and commercialization.
The beneficiaries include Boditive Private Limited, Putoyim Agro Private Limited, ENIR Info Tech Private Limited, Clefnote Music, and Joldipabo Private Limited.
Advisor to Industries and Commerce, Hekani Jakhalu in her address during the funding ceremony, emphasised the pivotal role of these startups as role models in the state.
Earlier, YouthNet Director Nuneseno Chase said, “Their journey is a testament to the entrepreneurial potential of Nagaland,” she remarked. Neikepekho Shosahie, Centre Manager at YouthNet, underscored the unique approach of the SISFS funding model, which prioritizes promising ventures over asset-backed applicants—a stark departure from traditional banking practices. He noted that the incubator’s credibility has drawn the interest of major partners such as Amazon, Global Alliance for Mass Entrepreneurship, Cuts Internationals, Various consulate and leading institutions like IITs and IIMs, which are eager to collaborate and support the incubation in various ways.
Yanpvuo Kikon, Mentor at YouthNet Incubation Centre (YIC) and founder of Kikonic and Kley Enterprise, highlighted the significance of trust-building as a key component in strengthening brand identity and maintaining a focus on quality. Meanwhile, fellow mentor Sinlo Kemp, founder of Kemp Design, urged startups to adopt a global mindset and pursue ambitious visions to tap into international opportunities.
This funding initiative of Startup India Seed Fund Scheme (SISFS) is a transformative initiative aimed at addressing the critical funding gap for startups during the early stages of growth. The scheme is spearheaded by Startup India, under the Department for Promotion of Industry and Internal Trade (DPIIT), ensuring robust evaluation and disbursement through approved incubators, with a focus on transparency and milestone-based funding, stated a press release received here.
