Nagaland Start-up teams pitch business idea to NEDFi

September 14, 2022 70 Views No Comment

Our Correspondent
Kohima | September 14

In a significant development, six Nagaland Start-up teams were invited to North Eastern Development Finance Corporation Ltd (NEDFi) head office, Guwahati on September 12 to pitch their business idea and get access to funding.

Six Startups from Nagaland, which were invited to NEDFi, for the first time, includes; Autocion Pvt Ltd, Ilandlo, Runway Nagaland, Aboriginal Energy Pvt. Ltd, NagaEd and Jome Foods Pvt Ltd.

Start-up has seen a rise globally and in Nagaland. Startup Nagaland, under the Department of Industries & Commerce has been mentoring and supporting incubators who have in turn supported Start-up.

Four of the six Start-ups selected are from one of the incubators Educentre School of Business (ESB).

This is a historic moment that will open door for more Start-ups to get investment not only from NEDFi but other investors across the country, said ESB manager Visano Yoho.

PVSLN Murthy, CMD, NEDFi said that more Start-ups are needed from Nagaland “as we have to move to a job creating economy.”

The six chosen Start-ups is an outcome of the recently held CSR & Investment Conclave, organized by Investment and Development Authority of Nagaland (IDAN) and Government of Nagaland.

Nagaland Start-up Policy
Mentionably, with an aim to accelerate and promote local entrepreneurs in the state of Nagaland, the department of Industries & Commerce has been appointed as the nodal department to implement the Start-up Policy for the state.

Nagaland Start-up policy aims to establish Nagaland as a model start-up leader in the region by creating a culture of entrepreneurship that nurtures creative and innovative youth, allowing them to build successful start-up companies, become job creators and contribute towards building a healthy and sustainable economy.

The pillars of the policy includes; developing a culture of innovation and entrepreneurship focused on rural and social enterprises, focus on creating sustainable business models by helping create business, supply chain and financial linkages as well as provide necessary incentives, developing human capital, by creating the right environment and support systems for learning, experimentation and innovation from the early phase of education and proactively engaging with industry to continuously promote and identify innovation.

The Start-up Nagaland portal has been launched in 2019.

Nagaland Startup portal has been development to enable startups from the state to register online and apply for recognition under ‘Start-Up Nagaland’ by logging into the portal which has been uploaded at www.startup.nagaland.gov.in.

Source: https://morungexpress.com/nagaland-start-up-teams-pitch-business-idea-to-nedfi