Shillong, Feb 15: North East Venture Fund (NEVF), a dedicated venture fund for the Northeastern states promoted by NEDFi, Ministry of DoNER and SIDBI has announced the launch of Start-Up Investment Fest 2022. The objective is 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.
In a statement, NEDFi said the event is open for start-ups from all sectors working on innovative solutions and ideas. Registrations for the event will open from February 15 and closes on March 15 post which, shortlisted start-ups will get an opportunity to pitch physically or virtually in front of the Investment Committee comprising veteran investment managers, industry experts to secure investments.
The event will be trying to reach out to the start-ups from all the NE states with more publicity in Arunachal Pradesh, Nagaland, Meghalaya, Mizoram, Tripura through targeted media campaigns to increase the 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.
Through this event, NEVF is targeting to invest a minimum amount of Rs 25 lakh each 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 intent of this event is also to act as a booster to the start-up ecosystem of the region, providing the start-ups a platform to showcase their business ideas and provide them access to high risk capital for them to scale their businesses.
The start-ups that would be selected for investment through this event, would not only be getting access to investments for scaling up their venture but will also be getting access to host of other facilities like handholding support, advisor network, investor network, marketing support etc. The overall objective of this entire exercise is to find innovative, scalable, technology based start-ups and provide them with the capital and network to develop themselves into business models with global approach.
