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News Update

Assam Leads Northeast India's Startup Revolution with Over 1,400 Ventures

17 February 2025 12:16 AM indoremeripehchan

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Dispur. Assam has emerged as the region's startup powerhouse with 1,487 recognised startups, accounting for more than 70 per cent of the total 2,054 ventures in the area.

This data, released by the Department for Promotion of Industry and Internal Trade (DPIIT) as of December 31, 2024, was recently presented to the Rajya Sabha by Dr. Sukanta Majumdar, Minister of State for the Development of North Eastern Region (DoNER).

The state's remarkable achievement stands in stark contrast to its regional counterparts, with Manipur recording 179 startups and Tripura following with 141. This substantial lead underscores Assam's pivotal role in driving innovation and entrepreneurship across Northeast India.

Supporting this growth is the North Eastern Development Finance Corporation Ltd. (NEDFi), operating under the DoNER Ministry.

Through its North East Enterprise Development Scheme (NEEDS), NEDFi provides crucial financial support to first-generation entrepreneurs, offering term loans that cover up to 75 per cent of project costs, capped at Rs 50 lakh.

The scheme features an attractive 8 per cent interest rate and allows for repayment over seven years.

The success of Assam's startup ecosystem can be attributed in part to the central government's 'Startup India' initiative, launched in January 2016.

This program has been instrumental in creating a conducive environment for innovation and investment across the country, with special emphasis on the northeastern region.

Since the 2014-15 financial year, central ministries and departments have invested Rs 5.74 lakh crore in the region's development, demonstrating the government's commitment to fostering economic growth in the Northeast.

As Assam continues to strengthen its position as a hub for innovation and entrepreneurship, the state's thriving startup ecosystem serves as a model for regional development and economic transformation in Northeast India.

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