BIZ-AS-STARTUP

Chief Minister Sarbananda Sonowal Sunday inaugurated the 'Assam Start Up the Nest'

initiative to facilitate growth of at least 1,000 start-ups over the next five years.

The initiative is a state-owned incubator for the start-up ventures, which seeks to augment the business

environment by promoting idea generation to start-up companies and help them establish and accelerate growth and success.

Sonowal said that Act East Policy has given impetus to the trade and business in the state and through it the state

would become the gateway and business hub of South East Asia. The incubation centre, which is set up by the state

government under Assam Start-up Policy 2017 with technical expertise from IIM Calcutta Innovation Park, aims to

facilitate the growth of at least 1,000 new start-ups over the next five years, he added.

"It also seeks to attract funding opportunities to the tune of USD 250 million for state start-ups and incubators

while establishing itself as a centre of excellence in the start-up ecosystem," Sonowal said.

The start-up entrepreneurs will also get the networking opportunities for funding their projects, while

dedicated mentorship and capacity enhancement trainings will be provided at the incubation centre.

Sonowal said that Rs 12,000 crore has been invested in Assam out of the total Rs 79,000 crore committed last year

during the 'Advantage Assam' investment summit, which saw the signing of 240 pacts and this start-up incubation centre is

one of the results of the summit. Assam Industry and Commerce Minister Chandra Mohan

Patowary said the incubation centre will provide platform for the young entrepreneurs with brilliant ideas to achieve

greater things and generate employment.