Assam Launches Startup Incubator to Support 1000 Startups over Next 5 Years


Among all the states in India, north-east state of Assam is playing underdog since ages due to lack of infrastructure, negligence of center government, among other reasons and even though in year 2014 the state government of Assam did unveil an angel fund to help and assist the skilled youths and first generation entrepreneurs, very few notable startups have come out of the state.

Now in a latest, Assam’s Chief Minister Sarbananda Sonowal, on Sunday, inaugurated a state-owned incubator initiative called ‘Assam Startup The Nest’ in Guwahati, which will facilitate growth of at least 1,000 startups over the next five years.

Set up under Assam Startup Policy 2017, The incubation centre will take technical expertise from IIM Calcutta Innovation Park.

IN addition, the incubator also seeks to attract funding opportunities to the tune of $250 million for state startups and incubators while establishing itself as a centre of excellence in the startup ecosystem

The incubator initiative seeks to augment the business environment by promoting idea generation to startup companies and help them establish and accelerate growth and success.

Sonowal said that Act East Policy has given impetus to the trade and business in the state and through it the state would become the gateway and business hub of South East Asia.

Recently, Ministry of Commerce and Industry has unveiled data according to which the North Eastern region of India — Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, and Tripura, accounts for only 0.144% of total 14,565 startups recognized under Start-up India initiative of Indian government

READ  Bengaluru Gets First Incubation Centre for Women Entrepreneurs

Source – First Post

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