New Delhi, September 17: Inviting young ‘start-ups’ from across the nation to avail the benefits of “Venture Fund” facility for flourishing their entrepreneurship, Union Minister of Development of North Eastern Region (DoNER), Dr. Jitendra Singh inaugurated “ARUNODOI”, two days Northeast Students & Youth Summit 2017.
For the budding entrepreneurs willing to set up their ‘start-up’, Ministry of Development of North Eastern Region (DoNER) has provided the facility called as “Venture Fund”. Northeast Venture Fund is the first dedicated venture capital fund for North-Eastern region and the initiative to set it up began in April this year.
Speaking at the inaugural session, Dr Jitendra Singh said, in addition to the provisions of tax holiday and exit period available in the Government of India’s “Standup India, Startup India” programme, the Ministry of DoNER has also rolled out “Venture Fund” for anybody who wishes to Startup in the Northeast region, which would provide a huge financial relief particularly to young entrepreneurs. Launched only a few months ago, he said, “Venture Fund” has already become popular among the youngsters and over 65 proposals are already in the pipeline.
Further Dr Jitendra Singh said the day is not far when Northeast will become a favourite destination for young Startups from all over India. With its vast unexplored avenues, he said, those looking for livelihood will soon find a potential enterprise in the Northeast, particularly in fruit, food, handicraft and tourism industry, he added.