Entrepreneurship Development Centers to be Opened in Higher Education Institutions of North East

Entrepreneurship Development Centers : In order to promote and create an entrepreneurial ecosystem among college students of the North Eastern Region, the Indian Institute of Entrepreneurship (IIE), an institution under the Ministry of Skill Development and Entrepreneurship, has set up Entrepreneurship Development Centers (EDCs) as well as Incubation Centers (ICs) in higher educational institutions of the North Eastern Region.

IIE Director Lalit Sharma on Thursday said that in the first phase, IIE in collaboration with the North Eastern Council will set up 30 EDCs and four ICs in higher educational institutions across the region. Under this project, 50 selected student startups will be given financial assistance by way of a one-time grant amount of Rs 5 lakh each to start their business.

Sharma said that IIE is excited to take on this new responsibility and is confident that this initiative will help foster a culture of entrepreneurship and innovation among college students in the North Eastern region.

According to the Ministry of Commerce and Industry, as of March, there were a total of 1,143 registered startups in eight northeastern states, including Sikkim, while during the same period, Karnataka had 10,808 startups and Gujarat 6,988.

Sharma, who initiated the project, said: “Youth has played a key role in developing startup ecosystems in mature ecosystems such as Karnataka and Gujarat. IIE plans to develop NER’s ecosystem through college youth.  IIE Will reach out to young college students by developing EDCs and ICs within higher educational institutions of NER.”

Also Read: Global Entrepreneurship Summit 2022 – An Annual Flagship Initiative by IIT Kharagpur.