Rs 100-cr central fund for NE entrepreneurs

SHILLONG: The national working president of the Forum of SC and ST Legislators and Parliamentarians, Inder Iqbal Singha Atwal, has said the Centre had set up the North East Venture Fund (NEVF) to help entrepreneurs in the region set up businesses.
Speaking to reporters here on Saturday, Atwal said this is the first dedicated venture capital fund for the region set up by the North Eastern Development Finance Corporation Ltd (NEDFi) along with the Ministry of DoNER.
The capital commitment is Rs 100 crore with an initial contribution of Rs 75 crore consisting of Rs 45 crore from the DoNER Ministry and Rs 30 crore from NEDFi.
The balance fund of Rs 25 crore has been committed by Small Industries Development Bank of India in-principle.
Atwal also appealed to all stakeholders and ST-SC entrepreneurs in the state to participate in the National SC-ST Hub State Conclave-Shillong to be held at State Convention Centre on Monday.
He said the conclave will be attended by Chief Minister Conrad K Sangma, Industries Minister Sniawbhalang Dhar and Governor Tathagata Roy.
The conclave will be organised by NSIC Limited in association with the Forum of SC and ST Legislators and Parliamentarians. Atwal informed that the conclave aims to bring central public sector enterprises, industry associations and the state government together on a common platform and deliberate on steps to be taken to fulfil Public Procurement Policy mandate for SC-ST entrepreneurs.