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Union minister sees immense start-up potential in NE

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Guwahati: Union Minister Jitendra Singh has said that North East has unexplored start-up potential.

Speaking on the second day of the “International Conference on Start-ups, Sustainability, Innovation, and Entrepreneurship in North East India” organised by North East Regional Research And Resource Centre Miranda House, Singh said that North East is inherently a land of innovation and women have always been at the forefront of the start-up culture.

“North East as a region was neglected by the previous governments but now the region has been brought on par with others by Prime Minister Narendra Modi- led government,” the minister of state for science and technology added.
Singh said that because of the impetus given by Modi which began with his call for “Start-up India Stand up India” from the ramparts of Red Fort on Independence Day, the number of start-ups in India has grown to over 90,000 from about 300 to 400 in 8 years from 2014 to 2022. There are more than 100 Unicorns.

He further added that 36 out of 100 unicorns from India have women as founders or co-founders. Women have shifted from participatory to leadership roles, he added.

The minister said that the Indian start-up ecosystem stands at number 3 in the world. India ranks in the top 50 countries in the Global Innovation Index (GII) and is one of the most startup-friendly countries in the world (leading in Asia).
Singh mentioned that in the recent past, various stakeholders in the start-up ecosystem such as incubators, accelerators and other venture funds have emerged in the North Eastern Region (NER), leading to a large number of start-ups.
The Centre has taken various important initiatives for the development of the region since 2014-15 and improved connectivity, thereby, accelerating the development of the region, he added.

Non-exempted Central Ministries/Departments required to spend at least 10 percent of their Gross Budgetary Support (GBS) for Central Sector and Centrally Sponsored Schemes in NER.

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