North East Development Finance Corporation Limited (NEDFCL) has released a total of Rs 41.14 crores 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.
By Imna Longchar, TFM Nagaland Correspondent
In the recent past various stakeholders in the “start-up” eco-system such as incubators, accelerators and other venture funds have emerged in the North Eastern Region (NER) leading to a large number of start-ups.
According to an official bulletin, as on January 31, the Department for Promotion of Industry and Internal Trade (DPIIT) has recognized 674 start-ups from the states of North Eastern Region.
The states comprising of Assam with 499 start-ups, 8 in Arunachal Pradesh, 68 in Manipur, 17 in Meghalaya, 6 in Mizoram, 21 in Nagaland, 8 in Sikkim and 47 in Tripura.
Besides, North East Development Finance Corporation Limited (NEDFCL) has released a total of Rs 41.14 crores 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.