Exclusive conversation with Joutishman Dutta, Managing Trustee of Assam down Town University encouraged budding entrepreneurs to keenly watch and align their startups with the changing development paradigm of the Northeast region.
"See, my attention is highly northeast. I'm not going to speak of India as a whole. You must see what is taking place in the Northeast what will flourish in the coming five to ten years," stated Dutta, presenting an area-focused vision for entrepreneurship.
Referring to recent declarations made by the Assam Chief Minister, such as the setting up of more than 11 new hotels and prospects for a semiconductor manufacturing complex, Dutta suggested that businesses rooted in these industries are set for greater prosperity.
"If you are launching a startup around these trends, your success is much more likely. See the number of flyovers that are coming up in Guwahati. There's a boom taking place, and everyone is witnessing it, but not realizing the underlying opportunities," he said.
He encouraged potential founders to pay close attention to government announcements. "If 11 hotels are arriving, what will the tourists require? Transport, local guides, bespoke tour services all of these offer feasible startup opportunities."
Dutta also described how the semiconductor business could trigger an ecosystem of support services. "Thousands of employees will be based in one location. They will require food, accommodation, health care, and retailing. If you start a startup based on such needs, you will have an existing customer base."
He rejected the idea that one needs a radically different idea to become an entrepreneur. "You don't need an out-of-this-world business idea to start. Start where the demand is. If there is demand, your business will find its place," he said.
Speaking of government schemes and startup initiatives, Dutta observed a significant increase in interest and awareness. "In 2016, there would be 10 applications for a grant. Now, there are more than 200. That indicates how interest levels have picked up. People of the Northeast area not even known for a business culture are stepping into the startup arena now. That's highly encouraging."
He also mentioned important schemes and initiatives already supporting the startup ecosystem of the region. "The Assam government has set up an incubation centre named Assam Startup, at Lamb Road in Guwahati. In Assam down town University, we operate down town Venture Labs, where two big schemes are active ,TIDE 2.0 under Ministry of Electronics and Information Technology, and TBI (Technology Business Incubator), funded by the Department of Science and Technology," Dutta explained.
ALSO READ: Assam Chief Minister Reviews Progress of Cricket Stadium and Swimming Pool Construction at Amingaon
He said other research and education institutions are also adding to the ecosystem. Institutions such as NIPER (North East Institute of Pharmaceutical Education and Research) are operating similar programmes. They offer minimal grants, technical mentorship, and ecosystem assistance to budding entrepreneurs.
Reiterating in his final comments that winning in the Northeast is all about listening and gearing up for local needs, Dutta said, "Pay attention to what the Northeast requires today and what it will need in a decade from now. If your enterprise matches this growth, you are bound to succeed. Even with an investment of Rs 10 to Rs 50 lakh, there is so much scope if you analyze the pattern of development and place yourself accordingly."
FIRST Business Portal addressing the potential of business capability of North East Region.
