Assam incubator aims to support 1,000 units in 5 years, seeks to attract $250 mn for state startups

Guwahati: Chief Minister Sarbananda Sonowal Sunday inaugurated the ‘Assam Startup The Nest’ initiative to facilitate growth of at least 1,000 startups over the next five years. The initiative is a state-owned incubator for startup ventures, which seeks to augment the business environment by promoting idea generation to startup companies and help them establish and accelerate growth and success. Sonowal said that Act East Policy has given impetus to the trade and business in the state and through it the state would become the gateway and business hub of South East Asia.

The incubation centre, which is set up by the state government under Assam Startup Policy 2017 with technical expertise from IIM Calcutta Innovation Park, aims to facilitate the growth of at least 1,000 new startups over the next five years, the chief minister added.

“It also seeks to attract funding opportunities to the tune of $250 million for state startups and incubators while establishing itself as a centre of excellence in the startup ecosystem,” Sonowal said. [caption id=“attachment_2850094” align=“alignleft” width=“380”]  ThinkStock image[/caption] Startup entrepreneurs will also get the networking opportunities for funding their projects, while dedicated mentorship and capacity enhancement trainings will be provided at the incubation centre. Sonowal said that Rs 12,000 crore has been invested in Assam out of the total Rs 79,000 crore committed last year during the ‘Advantage Assam’ investment summit, which saw the signing of 240 pacts and this startup incubation centre is one of the results of the summit. Assam Industry and Commerce Minister Chandra Mohan Patowary said the incubation centre will provide platform for the young entrepreneurs with brilliant ideas to achieve greater things and generate employment.     To keep watching India’s No. 1 English Business News Channel – CNBC-TV18, call your Cable or DTH Operator and ask for the Colors Family Pack (inclusive of 24 channels), available for Rs. 35/- per month, or subscribe to the channel for Rs. 4/- per day. To keep watching the Leader in Global Market & Business News – CNBC-TV18 Prime HD, call your Cable or DTH Operator and ask for the Colors Family HD Pack (inclusive of 25 channels), available for Rs. 50/- per month, or subscribe to the channel for Rs. 1/- per day.