Poor access to fund hits NE start-ups

SHILLONG: Young leaders from the North East have stressed the need for access to finance, which is a major factor that is affecting growth in the region.
Different leaders at the 6th edition of Young Leaders Connect (YLC) are dwelling at length on how to connect powerful network of like-minded young leaders with a desire to propel growth in the region.
Attended by leaders from the North East cutting across political and social spectrum, the first day witnessed sessions on entrepreneurs of North East, creating eco-system for entrepreneurs to thrive a policy perspective, beside others.
Speaking at the inaugural session, MP Gaurav Gogoi said if the balance sheet of the last six years is measured in terms of development and growth in the North East, a sluggishness, whether in the market, economy or projects, has crept in.
He also pointed out that access to money is becoming extremely difficult for any ventures.
Gogoi said the region has talented NGOs, SHGs and entrepreneurs and for them to grow in a large scale access to finance, market and capacity building is a must.
Chief Minister Conrad Sangma said the conclave is also looking into the possibility of having centres of Made in North East and though it is at its nascent stage, discussions will be held and they will come up with a working plan to promote Make in North East.
“It will not just be exchange of ideas and discussions but they will look into coming with some kind of policies in place.”
He also highlighted the benefits associated with embarking upon food processing conference atleast have technology partners to be also attended by ASEAN countries.
On the same lines, Chair- YLC Bhaichung Bhutia said access to finance is a challenge and also a very important factor for all the start-ups.
Acknowledging that the government is also not being able to do much in this regard, he said YLC is trying to guide and pick up the right projects.