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 Startups.  As of 31st January 2022, the Department for Promotion of Industry and Internal Trade (DPIIT) has recognized 674 Start-ups from States of NER comprising of Arunachal Pradesh (8), Assam (499), Manipur (68), Meghalaya (17), Mizoram (6), Nagaland (21), Sikkim (8), and Tripura (47).

Besides, North East Development Finance Corporation Ltd. has released a total of Rs. 41.14 crore to 22 Startups to date through North East Venture Fund (NEVF) and a total of 36 proposals have received an in-principle commitment of Rs. 74.76 crore.

The government has taken various important initiatives for improving air, rail, and road connectivity thereby accelerating the development of the NER.

To cater to queries related to the Start-up India initiative by aspiring and existing entrepreneurs, Start-up India operates a toll-free number 1800115565.

As per the notification GSR. 127 (E) issued by DPIIT dated 19th February 2019, an entity is considered as a Start-up:

1. Upto a period of ten years from the date of incorporation/ registration, if it is incorporated as a private limited company (as defined in the Companies Act, 2013) or registered as a partnership firm (registered under section 59 of the Partnership Act, 1932) or a limited liability partnership (under the Limited Liability Partnership Act, 2008) in India.
2. Turnover of the entity for any of the financial years since incorporation/ registration has not exceeded one hundred crore rupees.
3. Entity is working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation.

There is no bar regarding the occupation of the director/partner for applying for recognition. Hence, no data about the number of students who have applied for Start-ups is being captured.

The North East Industrial Development Scheme (NEIDS), 2017 has come into force with effect from 01.04.2017 for a period of five years. The scheme covers the manufacturing and service sector of all the States of NER. Various benefits provided under the scheme include: (i) Central Capital Investment Incentive for access to credit; (ii) Central Interest Incentive; (iii) Central Comprehensive Insurance Incentive; (iv) Income Tax Reimbursement; (v) Goods and Services Tax Reimbursement; (vi) Employment Incentive; and (vii) Transport Incentive. There is an overall cap of Rs.200 crore per unit for benefits under all components of the Scheme. Till end-October 2021, a total of 391 new industrial units with a proposed total investment of Rs.2,631.19 crore have been granted registration under NEIDS. The total incentive envisaged for these industrial units amounts to Rs.1,740.06 crore.

Besides, industrialization and employment in the NER are being promoted through expenditure under 10% Gross Budgetary Support by 54 non-exempt Ministries/ Departments, including the schemes being implemented by the Ministry of Development of the North Eastern Region and the North Eastern Council.

This information was given by Minister for Ministry of Development of North Eastern Region Shri.G.Kishan Reddy in a written reply in the Lok Sabha today.

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