Dimapur, Sep 30 (NPN): Nine startups in Nagaland are set for their next phase of growth after securing a total of Rs.1 crore in seed funding under the Startup India Seed Fund Scheme (SISFS), facilitated through the YouthNet Incubation Centre (YIC).
The funding was provided to startups selected under Series 4 of the YIC-SISFS programme, covering sectors including green hydrogen, agriculture and biotechnology, renewable energy, artificial intelligence and other technology-driven ventures.
According to a press release the selected startups are Toshifez Innovations Private Limited, Syncnl Networks Private Limited, Zodmo Technologies Private Limited, Greenovex Private Limited, October Pumpkin-Shi Private Limited, A&D Renewables Energy Private Limited, Tuensang Hills Agro Private Limited, Green Buds Private Limited and Khamlou India Private Limited.
Advisor, Department of Industries & Commerce, Hekani Jakhalu, at the funding ceremony urged the entrepreneurs to approach startup building with patience and perseverance. She also highlighted the role of startups and innovation in contributing to economic development and the vision of Viksit Bharat. Jakhalu interacted with the founders individually, discussing their businesses, innovations and the opportunities and challenges associated with their ventures.
Director and Chief Functionary of YouthNet, Nuneseno Chase, said the funded startups represented the potential of home grown entrepreneurship in Nagaland. He said the entrepreneurs were contributing towards building a self-reliant economy by developing businesses locally while seeking wider opportunities.
Associate Director, YouthNet, Neikepekho Shosahie, explained that SISFS links financial support with measurable progress. Funds are released in tranches, with subsequent disbursements dependent on startups meeting agreed milestones. Support may also be terminated in cases of non-performance or non-compliance.
The scheme provides early-stage financial support for proof of concept, prototype development, product trials, market entry and commercialisation. It also allows funding through debt or convertible instruments, with the objective of helping startups build the capacity and credibility required to attract angel and venture capital investment or secure institutional loans.
Mentor at YouthNet Incubation Centre, Yanpvuo Kikon of Kikonic & Kley Enterprise, advised the entrepreneurs to remain focused and realistic about their ventures. He stressed the need to test ideas quickly, learn from market responses and refine or pivot business models when necessary.
The Startup India Seed Fund Scheme is implemented under the Department for Promotion of Industry and Internal Trade (DPIIT) through approved incubators to address the funding gap faced by startups during their early stages of growth.
