Our Correspondent
Kohima, Aug. 20 (EMN): Agriculture Production Commissioner, Y Kikheto Sema, on Saturday said it is time for the people of the state to invest in social and economic development.
Speaking at the grand finale of Start Up Nagaland competition held at De Oriental Grand in Kohima, he said that it is the right time to start investing while pointing out that the government job sector has become saturated.
Considering the importance of entrepreneurship, he said the Chief Minister’s Micro Finance Initiative (CMMFI), for which an outlay of INR 65 crore has been earmarked, will be launched by Union Finance Minister Nirmala Sitharaman on August 23 during her visit to the state.
The CMMFI is a scheme announced by the state government with an aim to provide affordable credit to farmers, Self Help Groups, and Farmer Producer Organisations in the form of subsidy as well as credit subvention to various identified activities in the agri and allied sectors.
Sema also expressed optimism that with the passing of the SARFAESI Act, banks would not shy away from helping the entrepreneurs in lending money.
Meanwhile, Keneirienuo K Theunuo, Assistant Director of Industries and Commerce and Start-up Nagaland team leader, informed that the Start Up Policy was launched by the Centre in 2016, before the state launched it in 2019. She maintained that the department had been conducting various activities and boot camps, while also roping in four incubators to help build the ecosystem.
She said the mantra under start up is to create a policy of innovation, creativity and entrepreneurship so that the youth will pursue entrepreneurship as a career and be job creators.
Earlier, addressing the programme, Orenthung Lotha, Additional Secretary, department of Industries and Commerce, said Nagas are first generation entrepreneurs and will have to start somewhere.
He opined that the government had provided a good opportunity and the department is also working towards providing incentives and a good ecosystem for business and enterprises to flourish.
'ilandlo' won the grand prize of Company Registered Startups during the grand finale of Start Up Nagaland competition and walked home with a cash award of INR 3 lakh.
NagaEd Co-founder, Shiroi Lily Shaiza, won the best Woman-led start-up with GST and received INR 1.5 lakh.
Other winners under the Company Registered Start-up were NagaEd, Jome Foods Pvt., Autocoin, NE Health Service Private Limited and Sanang Eduservice LLP, receiving INR 1 lakh each. Ahibo LLP also received the seed money.
Meanwhile, under 'Aspiring Startups', Tribal Logistics, Ngourie Company, Tabernacle, Online Express Nagaland and Modern Myriad Branding Pvt. Ltd. won INR 50,000 each.
Other finalists under aspiring start-ups were Gogivers, MonAram; Murry Stonecraft, Tech iCynics, and LED Bulb Unit.