Nine startups secure INR 1 crore in seed funding through the YouthNet Incubation Centre under SISFS in Chümoukedima.
DIMAPUR — Nine startups have secured total seed funding of INR 1 crore under the Startup India Seed Fund Scheme (SISFS), facilitated through the YouthNet Incubation Centre (YIC).
According to an update, speaking at the funding ceremony at the YouthNet office in Chümoukedima on Wednesday, Advisor for Industries and Commerce Hekani Jakhalu urged entrepreneurs to approach startup building with patience and perseverance.
She acknowledged the challenges of running a business alongside the achievement and fulfilment of turning an idea into a viable enterprise. Linking entrepreneurship to the vision of Viksit Bharat, she highlighted the role of startups and innovation in India's economic development and encouraged founders to recognise their place in that wider effort.
Jakhalu also interacted individually with the startups to discuss their businesses, innovations, and the opportunities and challenges they encounter.
The startups selected under Series 4 of YIC SISFS include Toshifez Innovations Private Limited, Syncnl Networks Private Limited, Zodmo Technologies Private Limited, Greenovex Private Limited, October Pumpkin Shi Private Limited, A&D Renewables Energy Private Limited, Tuensang Hills Agro Private Limited, Green Buds Private Limited, and Khamlou India Private Limited, covering sectors such as green hydrogen, agri-biotechnology, renewable energy, artificial intelligence, and other technologies.
Read more local news: Kikheto Sema calls for contextualising SDG indicators for Nagaland
Nuneseno Chase, Director and Chief Functionary of YouthNet, commended the young companies, stating, "Every startup here carries the hopes of a new Nagaland, one that believes in its potential, invests in homegrown talent, builds locally with pride, and dreams globally with confidence. These entrepreneurs are not just creating companies; they are laying the foundation for a self-reliant and thriving economy."
Neikepekho Shosahie, Associate Director at YouthNet, stated that the SISFS model backs potential while linking financial support to measurable progress.
He explained that funds are released in tranches, with subsequent disbursements contingent on startups meeting agreed milestones, alongside provisions for termination of support in cases of non-performance or non-compliance.
He added that the scheme also offers funding through debt or convertible instruments, with the objective of helping startups build capacity and credibility to attract investment from angel investors and venture capitalists or secure loans from financial institutions.
Mentor at YIC Yanpvuo Kikon of Kikonic & Kley Enterprise urged entrepreneurs to stay focused, remain realistic, and be clear about what they are building. He underlined the importance of speed in testing ideas quickly, learning from the market, and pivoting when an approach fails to deliver results within a reasonable timeframe. He also cautioned against becoming emotionally attached to an idea, urging entrepreneurs to let market realities guide their decisions.