Friday, December 2, 2022

Manipur CM launches venture fund for Manipur Startup scheme


Manipur chief minister N Biren Singh on Saturday launched “Venture Fund for Manipur Startup Scheme 2.0” in collaboration with North Eastern Development Finance Corporation Ltd (NEDFi) at the inaugural session of a workshop on Manipur Startup held in Hotel Imphal in Imphal.
The workshop was organized jointly by the state department of planning and the department for promotion of industry and internal trade of the government of India.
Addressing the inaugural session, Singh said that his government aims to provide a source of earning to every household of the state and has taken up various schemes and initiatives to give direct or indirect employment to at least a member of each family.
He said around 6000 Startups had been given financial assistance under the scheme so far, adding that Investment made by NEDFi had also made it possible for many Startups to expand its operation.
Asserting that youths are the future of the state, Singh informed that Rs 10 crore each for Imphal West, Imphal East and Churachandpur had already been sanctioned for setting up Youth Skill Centre.
Rs five crore each had also been sanctioned for Senapati, Ukhrul and Chandel districts, he added.
The chief minister, however, expressed his concern that only few people with innovative ideas approached to get benefit of the Startup Scheme.
He also stressed the need for the state’s youths to get expertise in the IT sector as the world is advancing rapidly with the coming of 5G service, adding that the state is lagging in this sector.
Chairman and managing director of NEDFi, PVSLN Murty stated that the launching of first ever Venture Capital for Startup, to encourage the youths to come up with viable propositions, would be memorable in the history of Manipur.
It was through the initiative of the chief minister that the state had come up with the launch of venture capital before other states had done, he added.
On the occasion, the Manipur government signed a memorandum of understanding (MoU) with the NEDFi.

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