NEDFi, DoNER reaches out to start-ups, first generation entrepreneurs

Start-up Investment Fest 2022

STAFF REPORTER

GUWAHATI: North East Venture Fund (NEVF), a dedicated venture fund of the north-eastern region promoted by the North Eastern Development Finance Corporation Ltd (NEDFi), Ministry of DoNER and SIDBI, launched the Start-up Investment Fest 2022 in the city on Tuesday. The fest was launched by DoNER Secretary Lok Ranjan.

The objective of this fest is to reach out to start-ups and first generation entrepreneurs of the region who are working on building business models which are based on new products and services backed by technology and innovation with superior value proposition and potential for high growth. The event is open for start-ups from all sectors working on innovative solutions and ideas thal aim to disrupt the way consumers, industries and businesses operate. Registrations for the event opened on February 15 and will close on March 15, post which, shortlisted startups will get an opportunity to pitch physically or vitually in front of the Investment Commitee comprising of veteran investment managers, industry experts to secure investments for their start-ups.

The event in particular will be trying to reach out to the start-ups from all the north-eastern States with more publicity in Arunachal Pradesh, Nagaland, Meghalaya, Mizoram, Tripum through targeted media campaigns to increase the participation from these States. The idea of this event is to work towards a more inclusive appoach by providing opportunities to get investments for scaling up of their business ventures.

Through this event, NEVF is targeting to invest a minimum amount of Rs 25 lakh each in selected start-up based out of the region who are helping to solve complex business problems through the use of technologyand are targeting to bring both product and process based innovation, efficiency and transparency to scale their businesses. The intent of this event is also to act as a booster to the start-up ecosystem of the region, providing the start-ups a platform to showcase their business ideas and provide them access to high risk capital for them to scale their businesses.

Thc start-ups that will be selected for investment through this event, would not only be getting access to investments for scaling up their venture but will also be getting access to host of other facilities like handholding support, advisor network, investor network, marketing support etc. The overall objcctive of this entire exercise is to find innovative, scalable, technology based start-ups and provide them with the capital and network to develop themselves into business models with global approach.

NEDFi CMD PVSLN Murty and NEDFi General Manager Lemli Loyi were present at the event.

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