Kohima: The Investment and Development Authority of Nagaland (IDAN), in collaboration with the Small Industries Development Bank of India (SIDBI), inaugurated projects at an event in Kohima on February 13.

Hekani Jakhalu, Nagaland's advisor for industries and commerce, underscored the pivotal role of entrepreneurship in fostering economic resilience and social empowerment. Jakhalu emphasized the importance of collaborative efforts among the government, private sector, and civil society to create an enabling environment for entrepreneurs. Before joining politics, Jakhalu was known for founding the non-governmental organization YouthNet to help the youths of Nagaland pursue business opportunities.

Sivasubramanian Ramann, Chairman & Managing Director of SIDBI, reiterated SIDBI's commitment to supporting the entrepreneurial aspirations of the youth in Nagaland and the Northeast region. Ramann highlighted the transformative impact of access to finance, mentorship, and market linkages on budding enterprises, fostering a vibrant startup ecosystem.

Ramann introduced the Alternate Investment Funds of SIDBI, designed to assist startups and MSMEs in the state. He emphasized the importance of awareness programs on the available funds and the state's educated workforce, coupled with the government's intent to promote entrepreneurship, heralding a brighter future for Nagaland.

The ceremony witnessed the launch of several impactful projects aimed at nurturing startups and entrepreneurs in the region. Key initiatives included the state and district-level Swavalamban Connect Kendras (SCKs) in Kohima, providing essential support to budding entrepreneurs across various sectors statewide. Additionally, SIDBI Sports Scholarships were introduced, supporting five promising sportspersons annually through the Nagaland Olympic Association.

IDAN and SIDBI signed MoUs on the SIDBI Startup Seed Fund and SCDF (SIDBI Cluster Development Fund), aiming to scale up Nagaland's startup ecosystem.

The event concluded with interactions between entrepreneurs, business associations, social enterprises, NGOs, and SIDBI officials.

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