Guwahati: North Eastern Development Finance Corporation Limited (NEDFi) and National Institute of Pharmaceutical Education And Research (NIPER) Guwahati are joining forces to foster entrepreneurial development in the Northeast by imparting financial and technological support.

A memorandum of understanding (MoU) was signed by PVSLN Murty, CMD, NEDFi and USN Murty, Director, NIPER, Guwahati on Friday to collaborate in leveraging the strengths of financial expertise and technology of both organizations to stimulate the startup ecosystem in Northeastern Region (NER), stated an official release.

NEDFi, as a developmental financial institution is dedicated to fostering and nourishing entrepreneurship within the North East Region. It has been providing support to startups in NER through its Venture Fund. Also, it facilitates entrepreneurs and startups with guidance and mentoring connections.

The introduction of policies such as Start-up India and Vocal for Local has instigated a cultural shift towards entrepreneurial pursuits.

NIPER-Guwahati, on the other hand, plays an active role in supporting startups through its Bio-NEST NIPER Guwahati Incubation Centre, backed by BIRAC, DBT, and the government of India, as well as the Atal Incubation Centre NIPER Guwahati Foundation, supported by AIM, NITI Aayog, and the government of India.

"With a shared commitment to leveraging financial expertise and technology, their partnership is poised to strengthen the startup ecosystem, propelling innovation, and economic advancement throughout the region", a NEDFi official said.

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