SIDBI Pledges More Than Rs 100 Crore for Entrepreneurship Projects in Nagaland
- ByStartupStory | February 14, 2024
SIDBI, in collaboration with the Nagaland government, has committed over Rs 100 crore for entrepreneurship projects in the northeastern state. As the apex regulatory body for micro, small, and medium enterprise finance companies in India, SIDBI operates under the jurisdiction of the Ministry of Finance.
During an event on Tuesday night, SIBDI Chief General Manager Subhransu S Acharya announced the allocation of funds for various initiatives aimed at fostering entrepreneurship in Nagaland. Acharya stated, “It would fund four projects, including setting up of industrial infrastructure for MSMEs under cluster development fund and Swavalamban Connect Kendras (SCK) for all the 16 districts to boost the spirit of entrepreneurship.”
In addition to financing industrial infrastructure and establishing Swavalamban Connect Kendras, SIDBI also unveiled sports scholarships worth Rs 5 lakh each for the training of five promising sportspersons. Furthermore, the organization pledged to provide seed funds to support entrepreneurs in their startup journey.
Nagaland Advisor for Industry and Commerce Hekani Jakhalu Kense, alongside SIDBI Chairman and Managing Director S Ramann, attended the event. Kense highlighted the vision of Chief Minister Neiphiu Rio, stating, “Chief Minister Neiphiu Rio has been very clear in stating that if the state’s economy has to grow, local entrepreneurs have to grow first.” She expressed gratitude to SIDBI and expressed optimism that young entrepreneurs would seize the opportunity.
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