On February 13, the Investment & Development Authority of Nagaland (IDAN), in collaboration with the Small Industries Development Bank of India (SIDBI), inaugurated SIDBI projects in a significant event at the Capital Convention Centre, Convention Hall, Kohima, reported the DIPR.
Hekani Jakhalu, Advisor for Industries & Commerce, graced the ceremony as the Special Guest. She underscored the pivotal role of entrepreneurship in fostering economic resilience and social empowerment. Jakhalu emphasized the importance of collaborative efforts among the government, private sector, and civil society to create an enabling environment for entrepreneurs.
Expressing gratitude to organizations like SIDBI, Jakhalu acknowledged their support in empowering Nagaland’s socio-economic landscape.
Sivasubramanian Ramann, Chairman & Managing Director of SIDBI, served as the Guest of Honour. Ramann reiterated SIDBI’s commitment to supporting the entrepreneurial aspirations of the youth in Nagaland and the Northeast region. Ramann highlighted the transformative impact of access to finance, mentorship, and market linkages on budding enterprises, fostering a vibrant startup ecosystem.
The Alternate Investment Funds of SIDBI, designed to assist startups and MSMEs in the state was also introduced. Ramann emphasized the importance of awareness programs on the available funds and the state’s educated workforce, coupled with the government’s intent to promote entrepreneurship, heralding a brighter future for Nagaland.
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The ceremony witnessed the launch of several impactful projects aimed at nurturing startups and entrepreneurs in the region. Key initiatives included the State and District level Swavalamban Connect Kendras (SCKs) in Kohima, providing essential support to budding entrepreneurs across various sectors statewide. Additionally, SIDBI Sports Scholarships were introduced, supporting five promising sportspersons annually through the Nagaland Olympic Association.
IDAN & SIDBI signed MoUs on SIDBI Startup Seed Fund and SCDF (SIDBI Cluster Development Fund), aiming to scale up Nagaland’s startup ecosystem.
The event concluded with interactions between Entrepreneurs, Business Associations, Social Enterprises, NGOs, and SIDBI Officials. Representatives from diverse sectors engaged in fruitful discussions, laying the groundwork for future collaborations.
