Start-up Investment Fest 2022 launched for NE states

With an objective to reach out to start-ups and first-generation entrepreneurs of the region, North East Venture Fund (NEVF), a dedicated venture fund for the North Eastern Region promoted by NEDFi, Ministry of DoNER and SIDBI announced the launch of Start-Up Investment Fest 2022 on February 15, 2022. The registration link to the event has been opened on February 15, 2022 and will be closed on March 15, 2022 post which, shortlisted start-ups are said to get an opportunity to pitch physically or virtually in front of the Investment Committee comprising of veteran investment managers, industry experts to secure investments for their start-ups.
The event which is said to be opened for start-ups from all sectors working on innovative solutions and ideas that aim to disrupt the way consumers, industries and businesses operate aims to reach out to start-ups and first-generation entrepreneurs of the region who are working on building business models which are based on new products and services backed by technology and innovation with superior value proposition and potential for high growth.
According to the press briefing “the event in particular will be trying to reach out to the start-ups from all the North East states with more publicity in Arunachal Pradesh, Nagaland, Meghalaya, Mizoram, Tripura through targeted media campaigns to increase the media participation from these states. The idea of this event is to work towards a more inclusive approach by providing opportunities to get investments for scaling up of their business ventures.”
“As such we would request start-ups from NER to participate in this event” added the statement.
A minimum amount of Rs. 25.00 lakh each is targeted by NEVF to invest in selected start-up based out of the region who are helping to solve complex business problems through the use of technology and are targeting to bring both product and process-based innovation, efficiency and transparency to scale their businesses.
The event also intents to act as a booster to the start-up ecosystem of the region, providing them access to high risk capital for them to scale their business.
The start-ups once selected for investment through this event is said to not only be getting access to investments for scaling up their venture but will also be getting access to host other facilities like handholding support, advisor network, investor network, marketing support etc.
However, there are some key criteria for the start-up to submit their application,
First, the founders should belong to the North Eastern states. Second, they should have an office in the North Eastern states. Third, the operations should be primarily in the North Eastern states. Fourth, they should be a Private Limited Company or willing to convert into a Private Limited Company. Fifth, the business model should be scalable and the product/service should be innovative. And last, they should be in early revenue stage and size of investment is minimum Rs. 25 lakhs to depending on the requirement.
NEVF is the first dedicated venture fund for the North Eastern Region with a corpus of Rs. 100 Cr, launched by NEDFi in association with the Ministry of DoNER Rs. 45 Cr through NEDFi, NEDFi Rs. Cr, and SIDBI Rs. 25 Cr. The fund has been operational since April, 2017 and has seen a lot of enthusiasm among start-ups from the region.
The Fest was launched on February 15, 2022, virtually, in the presence of Secretary, Ministry of DoNER, Lok Ranjan.