At least five startups from Nagaland have been awarded a total funding of Rs.1 crore under the Startup India Seed Fund Scheme (SISFS) through the YouthNet Incubation Centre.
In a press release, YouthNet Dimapur office informed that 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.
In her address during the funding ceremony, advisor for industries and commerce Hekani Jakhalu underscored the pivotal role of these startups as role models in the state.
She also underlined the importance of building a solid foundation supported by capable mentors and robust support systems. Advisor encouraged the entrepreneurs to explore various schemes and opportunities for growth.
Also, speaking at the event, YouthNet director Nuneseno Chase lauded the startups for their dedication. She called upon the startups to serve as beacons of inspiration for the state and beyond.
“Their journey is a testament to the entrepreneurial potential of Nagaland,” she said.
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 pointed out 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 were eager to collaborate and support the incubation in various ways.
Yanpvuo Kikon, mentor at the 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.
Fellow mentor Sinlo Kemp, founder of KempDesign, urged the startups to adopt a global mindset and pursue ambitious visions to tap into international opportunities.
The funding initiative of 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).