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MoS DoNER launches Venture Fund for North East, tax holiday-exit provisions on the list


 

The Ministry of Development of North Eastern Region (DoNER) headed by the Minister of State DoNER today unveiled the much awaited North East Venture Fund scheme for the aspiring entrepreneurs who want to start their units in the North-eastern region of the country.

Interacting with press on the sidelines of the Northeast Calling festival in New Delhi, MoS DoNER Dr Jitendra Singh said that the dedicated venture fund will not only bring in fresh investments for the region, but will also help transform the north eastern part of the country into a hub of different industries.

Singh said that the venture fund scheme aims at addressing different bottlenecks that persisted because of which the entrepreneurs couldn’t set up their business units. But with a framework launched, the region is likely to boom with startups.

Listing the provisions in the package, the Minister informed that the aspiring entrepreneurs can avail tax holiday and financial support. Also the entrepreneurs can take advantage of the exit provisions laid out in the scheme.

Singh asserted that his office is committed towards making the north-eastern part of the country as a favourable destination for startups under the flagship project Startup India rolled out by PM Modi.

Commenting on the event, North East Calling, the Minister said that the national capital over the next two days will be exposed to the different business opportunities available in the NE states including Arunachal Pradesh, Manipur, Assam, Nagaland, Tripura, Meghalaya, Mizoram, and Sikkim

The Minister earlier in the day inaugurated the event and also released the official North East venture Fund scheme. (KNN/ DA)

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