The initiative to establish Entrepreneurship Development Centres (EDCs) in over 100 government-run skill training institutes across the Northeast India is a significant step towards fostering entrepreneurship and innovation in the region. This project is led by the Indian Institute of Entrepreneurship (IIE) with support from the North Eastern Council.
The primary goal of these EDCs is to nurture the culture of entrepreneurship among students in higher educational institutions, thereby boosting the capacity of these institutions to develop student entrepreneurship. This is crucial because the number of student startups from the Northeastern region is currently low compared to other Indian states. For instance, as of March 2023, there were 1,143 registered startups in the Northeastern states, whereas Karnataka had 10,808 startups and Gujarat had 6,988 startups.
In the first phase of the initiative, the IIE plans to set up 30 Entrepreneurship Development Centres and four Incubation Centres across the Northeastern Region. These centres will provide comprehensive support to student entrepreneurs, including assistance in idea expansion, prototype development, market research, business plan development, startup pitching, and mentoring. Additionally, 50 selected student startups will receive financial support through a one-time grant of Rs. 5 lakh each to start their business.
The initiative is part of a broader effort by the Indian government to promote entrepreneurship in the Northeastern Region. Several institutions in the region, including the Indian Institutes of Information Technology (IIIT), Institutes of Hotel Management, and the Film and Television Institute in Jollang-Rakap, Arunachal Pradesh, provide opportunities for skill development and nurturing young creative talent, thereby contributing to entrepreneurship development.
Furthermore, under the North East Entrepreneurship Development Programme (NEEDP), launched by the North Eastern Council and IIM Calcutta Innovation Park, there is an emphasis on identifying and empowering promising entrepreneurs from the region. This program includes a combination of multiple initiatives, like the NE Entrepreneurship Challenge (Hunt), which aims to identify top 270 startup ideas from the region. The selected startups will be enrolled in incubation and pre-incubation programs, receiving grants and support to develop and commercialize their ventures.
This comprehensive approach towards entrepreneurship development in the Northeast is expected to have a far-reaching impact, spurring the rise of a new breed of first-generation entrepreneurs and consolidating the overall entrepreneurship ecosystem in the region.