Kohima, August 20 (EMN): Agricultural Production Commissioner Y Kikheto Sema said on Saturday that it was time for the people of the state to invest in social and economic development.
Speaking at the Grand Final of the Start Up Nagaland competition held at De Oriental Grand in Kohima, he said it was the right time to start investing while pointing out that the government employment sector had become saturated.
Considering the importance of entrepreneurship, he said the Chief Minister’s Micro Finance Initiative (CMMFI), for which an expenditure of INR 65 crore has been earmarked, will be launched by the Minister of Finance of Union, Nirmala Sitharaman on August 23 during his visit to the state.
The CMMFI is a program announced by the state government with the aim of providing affordable credit to farmers, self-help groups and agricultural producer organizations in the form of grant as well as credit subsidy to various activities identified in agri-food and related sectors.
Sema also expressed optimism that with the passage of the SARFAESI law, banks would not hesitate to help entrepreneurs lend money.
Meanwhile, Keneirienuo K Theunuo, deputy director of industries and commerce and team leader of start-up Nagaland, informed that the start-up policy was launched by the Center in 2016, before the state launched it. launches in 2019. She maintained that the department has conducted various activities and boot camps, while participating in four incubators to help build the ecosystem.
She said the mantra of the start-up is to create a policy of innovation, creativity and entrepreneurship so that young people pursue entrepreneurship as a career and be job creators.
Earlier, speaking to the programme, Orenthung Lotha, additional secretary of the Department of Industries and Commerce, said Nagas are first-generation entrepreneurs and they will have to start somewhere.
He felt that the government has provided a good opportunity and the department is also trying to provide incentives and a good ecosystem for businesses and businesses to thrive.
“ilandlo” won the grand prize for company-registered startups in the grand final of the Start Up Nagaland competition and went home with a cash prize of INR 3 lakh.
NagaEd co-founder Shiroi Lily Shaiza won the best female-led start-up with GST and was awarded INR 1.5 lakh.
NagaEd, Jome Foods Pvt., Autocoin, NE Health Service Private Limited and Sanang Eduservice LLP were also winners under the registered start-up company, receiving INR 1 lakh each. Ahibo LLP also received the seed capital.
Meanwhile, under “Aspiring Startups,” Tribal Logistics, Ngourie Company, Tabernacle, Online Express Nagaland, and Modern Myriad Branding Pvt. ltd. earned INR 50,000 each.
Other budding start-up finalists were Gogivers, MonAram; Murry Stonecraft, Tech iCynics and LED bulb.