Assam Leads Startup Surge In Northeast With 1,487 New Ventures

GUWAHATI: The northeastern region of India has seen a rise in new startups, with more than 2,000 businesses starting up across the area. Assam is leading with 1,487 startups, followed by Manipur with 179 and Tripura with 141, as per the latest update from the central government on Thursday.

Sukanta Majumdar, the Minister of State in the Ministry of Development of North Eastern Region (DoNER), provided these numbers in a written reply to a question in the Rajya Sabha. The growth of this startup ecosystem has also been supported by the North Eastern Development Finance Corporation Ltd. (NEDFi), an NBFC that helps new entrepreneurs through the North East Enterprise Development Scheme.

The scheme offers term loans covering up to 75% of project costs, with a maximum limit of Rs 50 lakh, a favorable interest rate of 8%, and a repayment period of up to seven years. The central government’s efforts to promote startups are further amplified through the ‘Startup India’ initiative, launched on January 16, 2016. This program aims to foster a thriving environment for innovation, investment, and entrepreneurship, with special emphasis on the northeast region.

India, now home to more than 1.59 lakh recognized startups, has firmly established itself as the third-largest startup ecosystem globally. These startups have generated over 16.6 lakh direct jobs across diverse sectors.

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