Biren’s government aims ‘to provide source of earning to every household’

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Imphal: Manipur chief minister N. Biren Singh launched Venture Fund for Manipur Startup Scheme 2.0 in collaboration with North Eastern Development Finance Corporation Ltd (NEDFi) during a Manipur Startup Workshop held at Hotel Imphal on Saturday.

The workshop was organised jointly by the department of Planning, Manipur and the department for Promotion of Industry and Internal Trade, Government of India.

Biren said his government aims to provide source of earning to every household of the state and as such the government had taken up various schemes and initiatives to give direct or indirect employment to at least a member of each family.

Since the formation of his government in 2017, priority had been given to give employment to as many youths as possible by taking up the Manipur Startup Scheme. Around 6000 Startups had been given financial assistance under the scheme so far. Investment made by NEDFi had also made it possible for many Startups to expand its operation, he added.

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Startup scheme has been giving avenues to entrepreneurs to expand their undertakings and to turn the youths from job seekers to job creators. Expressing that youths are the future of the state, he informed that Rs 10 crore each for Imphal West, Imphal East and Churachandpur had already been sanctioned for setting up Youth Skill Centre. A sum of Rs 5 crore each had also been sanctioned for Senapati, Ukhrul and Chandel districts, the chief minister said.

He raised concern that only few people with innovative ideas had approached to get benefit of the Startup scheme. He also stressed the need for the state’s youths to get expertise in the IT sector as the world is advancing rapidly with the coming of 5G service adding that the state is lagging in this sector.

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Informing that the corpus fund set aside for the Manipur Startup scheme had been increased from Rs 30 crore to Rs 100 crore, he appealed to the youths of Manipur to take benefit of the scheme and expressed his hopefulness that the State would achieve the goal of becoming the first state to have an income earner in every family.

Chairman and managing director, NEDFi, PVSLN Murty stated that the launching of first ever Venture Capital for Startup, to encourage the youths to come up with viable propositions, would be memorable in the history of Manipur. It is through the initiative of the chief minister that the state had come up with the launch of venture capital before other states had done, he added.

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A Memorandum of Understanding was signed between the Government of Manipur and NEDFi.

The chief minister also distributed prizes to the winners of Techstar Startup Weekend organized by MIT. Eco Youth from CIPET was given the first prize with a cash award of Rs 25,000, Alleviate from MIT with Rs 15,000 for the second prize and Tanja from MTU was awarded with Rs 10,000 for the third prize. Consolation prizes were also awarded to other startups.

Stalls were also set up by some startups at the campus of the Hotel Imphal. The inaugural session was followed by technical sessions on different topics.

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