New Delhi: The northeast region of India now boasts a total of 2,054 startups, with Assam leading the charge, according to a statement made by Dr. Sukanta Majumdar, Minister of State in the Ministry of Development of North Eastern Region (DoNER), in response to a question in the Rajya Sabha on Thursday.
Assam alone has 1,487 startups, followed by Manipur with 179 and Tripura with 141.
The North Eastern Development Finance Corporation Ltd. (NEFDC), a non-banking financial company (NBFC) under the DoNER Ministry, has been instrumental in supporting first-generation entrepreneurs through the North East Enterprise Development Scheme (NEEDS).
This initiative plays a crucial role in developing the startup ecosystem in the region.
The central government, aiming to foster a thriving environment for innovation and startups, launched the ‘Startup India’ initiative on January 16, 2016.
Several flagship schemes have since been implemented by various ministries to enhance the startup landscape in India, including substantial financial support for the northeast region.
The government has spent Rs 5.74 lakh crore under the general budget allocation since the 2014-15 financial year to improve development in the northeast.
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Additionally, the Ministry of DoNER is overseeing five schemes that enable state governments and central agencies to execute development projects across the region.
Earlier this month, Union Finance Minister Nirmala Sitharaman unveiled significant measures to strengthen micro, small, and medium enterprises (MSMEs) and startups in India.
The country now ranks as the third-largest startup ecosystem globally, with over 1.59 lakh startups officially recognized by the Department for Promotion of Industry and Internal Trade (DPIIT).
These startups have generated more than 16.6 lakh direct jobs, with the IT sector leading in job creation, followed by healthcare and life sciences, and professional and commercial services.
