SIDBI launches projects to support Nagaland’s socio-economic landscape
DIMAPUR: Several Small Industries Development Bank of India (SIDBI) projects for Nagaland were launched at the Capital Convention Centre in Kohima to help empower the state’s socio-economic landscape.
The SIDBI would carry out the projects in collaboration with the Investment and Development Authority of Nagaland (IDAN) aimed at nurturing startups and entrepreneurs in the state.
The key features of the projects included the opening of state and district-level Swavalamban Connect Kendras (SCKs), providing essential support to budding entrepreneurs across various sectors statewide and SIDBI sports scholarships, supporting five promising sportspersons annually through the Nagaland Olympic Association.
The IDAN and SIDBI also signed MoUs on the SIDBI startup seed fund and SIDBI cluster development fund.
Gracing the programme as the special guest, adviser to industries and commerce Hekani Jakhalu underscored the pivotal role of entrepreneurship in fostering economic resilience and social empowerment.
Jakhalu emphasised the importance of collaborative efforts among the government, private sector and civil society to create an enabling environment for entrepreneurs.
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She expressed gratitude to SIDBI for its support in empowering the state’s socio-economic landscape.
Sivasubramanian Ramann, chairman and managing director, SIDBI, who was the guest of honour, reiterated SIDBI's commitment to supporting the entrepreneurial aspirations of the youth in Nagaland and the Northeast region.
Ramann said through these projects, the budding enterprises would have access to finance, mentorship and market linkages to foster a vibrant startup ecosystem.
At the programme, Ramann also introduced the alternate investment funds of SIDBI, designed to assist startups and MSMEs in the state.
He emphasised the importance of awareness programmes on the available funds and the state's educated workforce, coupled with the government's intent to promote entrepreneurship, in heralding a brighter future for Nagaland.
The event concluded with interactions between entrepreneurs, business associations, social enterprises, NGOs and SIDBI officials, laying the groundwork for future collaborations among them.