Nagaland Start-up Policy to nurture creative youth

Our Correspondent
Kohima | February 26

On account of saturation of employment in the government sector in Nagaland, chief minister today stressed on the need of the Naga youth to focus on other areas for gainful employment.

“The Government has already approved the Nagaland Start-up Policy with the vision to establish Nagaland as a model start-up leader in the region, by creating a culture of entrepreneurship that nurtures creative and innovative youth, allowing them to build successful start-up companies, become job creators and contribute towards building a healthy and sustainable economy,” Rio said in his budget speech on the floor of the House.

The objective of the policy is to facilitate the growth of at least 500 start-ups in the next five years, with a focus on establishing innovative ”Made in Nagaland” products and services, he said.

He said the salient features of this new policy are to introduce a Nagaland Innovation Fund, Nagaland Investor Network, create Entrepreneurship Incubators and set up Entrepreneurship Development Centres in schools.
He said the policy seeks to promote women entrepreneurship by earmarking 25% of funds for start-ups led by women entrepreneurs.

The eligible start-ups will get fiscal incentives that will include GST reimbursement for 3 years upto Rs 5 lakh per year, 100% stamp duty reimbursement, digital upgradation subsidy of upto Rs 5 lakh per year, 50% reimbursement of broadband costs, power subsidy of Rs 10 lakh per year, reimbursement of patent filing costs upto Rs 2 lakh for domestic patents and upto Rs 5 lakh for international patents as also marketing and promotion assistance of upto Rs 5 lakh per start-up.

Incubators will be supported by providing financial assistance of upto Rs 25 lakh as capital grants, he said adding that there are other incentives that have been detailed in the Nagaland Start-Up Policy.

In addition, we are undertaking several exercises in the field of skill development in both the rural and urban sector. Capacity building exercises form an important part of the activities of all the major Government departments, and skill development initiatives under customized P3 programmes are creating significant employment opportunities, especially in the construction sector, he said.

In April 2019, he said Nagaland will be hosting the Dr T Ao North East Football Championships at Kohima.

“This championship will celebrate the energy and vibrancy of the region’s youth in a festive atmosphere where there will be convergence of music, culture, food and art through the platform of football under the aegis of the All lndia Football Federation,” he said.

A comprehensive sports policy with set timelines and podium finishes is being formulated and the development of football from the grassroots level upwards will be kick started in collaboration with the Bhaichung Bhutia Football Academy.

The Nagaland Marathon will be held in partnership with the All India Athletic Federation. Nagaland has become an international motor and adventure sports destination and the World War ll Peace Rally will take the shape of an international jeep jamboree this year, he said adding the biennial Nagaland Olympics under the aegis of the Olympic Movement will be held later this year.

from The Morung Express
via The Morung Express