Visionaries & Ecosystem Enablers Of NRE Are Profoundly Developing Robust Startup Ecosystem
Slowly yet steadily, the beautiful landscape of North Eastern Region is growing and brewing new solutions to create a benchmark in startup ecosystem. Very soon this region will also compete with Tier-I cities in terms of investment, profitability and growth. According to Startup India reports, Assam alone contributes 50% in India’s Tea production, Arunachal Pradesh is known for producing all four varieties of natural silk includes Mulberry, Eri, Muga and Oak tasar, About 57% of Mizoram area is for producing Bamboo, and there are other cities which are enthusiastically adding on to the growth and development of NRE. Young entrepreneurs are investing more to ideate and innovate whereas government and other boards like NEVF are profoundly investing on entrepreneurs and their unique business ideas.
In today’s context, business market of NRE is facing ups and downs in the early stages yet government is extending the support system in the forms of sufficient funds and educative workshops and fellowships like Northeast Entrepreneurship Fellowship. Accelerating Startup Calibre & Entrepreneurial Drive workshops by Startup India have been organised in the seven states of the Northeast in the month of November 2022 to fuel the confidence of young & budding entrepreneurs.
Looking at the current contribution of industries during Diwali 2023,
Owner of 'Komal Kiran Sarees', a local enterprise in Basistha Chariali area, said that "the advent of online shopping and other options in the city had caused sales to dwindle" this year. Further he added, "This year, Diwali sales weren't good when compared to previous years. For their shopping needs, people nowadays prefer online platforms over the offline shopping mode. And with so many similar stores around the city and shopping malls opening up every other day, there is a distribution-effect taking place where in customers appear to be evenly spread out over outlets”. This shows how north east is evolving with more and more business. Similar industries, multiple shops are directly affecting the profit. Business and competition is speedily increasing and the business owners need to pull up their socks with more marketing and innovative ideas to attract customers.
If we see the other sides of festival season a few business owners are boosting about their good luck from their sales and profits. As far as the sales of two-wheelers were concerned, said 'TVS Savera' sales manager Raju Saharia, October saw an increase of 50 percent in comparison to the previous month. 'Mahindra Industrial and Farm Equipment' located on the G.S. Road, the commercial hub of Guwahati, informed that a large number of vehicles have been sold during the festival season. On Diwali (Sunday) alone, the showroom moved more than 50 Scorpio vehicles. Upgraded variants of the Scorpio, which was first launched in 2002, remains a favourite in the SUV sector.
So, what do we understand from this? North east is surely witnessing progress in various fields. Unique talent is identified and funded by government as a token of encouragement. Great initiatives like substantial investments in 37 startups across various sectors, amounting to Rs 56.84 Crore. These investments have played a crucial role in generating 4,812 job opportunities in the region. And to mention, a few notable startups are Assam based logistics startup, Etash Delivery, SaaS startup, Invicto Software, Manipur-based Green Biotech, and Sikkim-based traveltech startup, Topview Infolabs, among others. These startups are expanding the startup ecosystem by adding a few more innovative & unique ideas and solutions and transforming the business standards. Various contributors like North East Venture Fund (NEVF) is extending support for various business across seven sisters including Assam, Arunachal Pradesh, Manipur, Meghalaya, Sikkim, and Tripura, and promoting innovation and economic growth.
Ultimately startup ecosystem enablers boosting the courage of young minds and in return the young minds are speedily escalating the standards of business, profits and startup ecosystem.
In today’s context, business market of NRE is facing ups and downs in the early stages yet government is extending the support system in the forms of sufficient funds and educative workshops and fellowships like Northeast Entrepreneurship Fellowship. Accelerating Startup Calibre & Entrepreneurial Drive workshops by Startup India have been organised in the seven states of the Northeast in the month of November 2022 to fuel the confidence of young & budding entrepreneurs.
Looking at the current contribution of industries during Diwali 2023,
Owner of 'Komal Kiran Sarees', a local enterprise in Basistha Chariali area, said that "the advent of online shopping and other options in the city had caused sales to dwindle" this year. Further he added, "This year, Diwali sales weren't good when compared to previous years. For their shopping needs, people nowadays prefer online platforms over the offline shopping mode. And with so many similar stores around the city and shopping malls opening up every other day, there is a distribution-effect taking place where in customers appear to be evenly spread out over outlets”. This shows how north east is evolving with more and more business. Similar industries, multiple shops are directly affecting the profit. Business and competition is speedily increasing and the business owners need to pull up their socks with more marketing and innovative ideas to attract customers.
If we see the other sides of festival season a few business owners are boosting about their good luck from their sales and profits. As far as the sales of two-wheelers were concerned, said 'TVS Savera' sales manager Raju Saharia, October saw an increase of 50 percent in comparison to the previous month. 'Mahindra Industrial and Farm Equipment' located on the G.S. Road, the commercial hub of Guwahati, informed that a large number of vehicles have been sold during the festival season. On Diwali (Sunday) alone, the showroom moved more than 50 Scorpio vehicles. Upgraded variants of the Scorpio, which was first launched in 2002, remains a favourite in the SUV sector.
So, what do we understand from this? North east is surely witnessing progress in various fields. Unique talent is identified and funded by government as a token of encouragement. Great initiatives like substantial investments in 37 startups across various sectors, amounting to Rs 56.84 Crore. These investments have played a crucial role in generating 4,812 job opportunities in the region. And to mention, a few notable startups are Assam based logistics startup, Etash Delivery, SaaS startup, Invicto Software, Manipur-based Green Biotech, and Sikkim-based traveltech startup, Topview Infolabs, among others. These startups are expanding the startup ecosystem by adding a few more innovative & unique ideas and solutions and transforming the business standards. Various contributors like North East Venture Fund (NEVF) is extending support for various business across seven sisters including Assam, Arunachal Pradesh, Manipur, Meghalaya, Sikkim, and Tripura, and promoting innovation and economic growth.
Ultimately startup ecosystem enablers boosting the courage of young minds and in return the young minds are speedily escalating the standards of business, profits and startup ecosystem.
