2019-07-03

Schemes for Development of NER

Ministry of Development of North-East Region

Schemes for Development of NER

Posted On: 03 JUL 2019 4:38PM by PIB Delhi

In addition to various ongoing schemes, the Ministry of Development of the North Eastern Region (MDoNER) jointly with North Eastern Development Finance Corporation Ltd (NEDFi), has set up the North East Venture Fund (NEVF), a dedicated Venture Fund for the North East Region. The Fund was formally launched on 9th September 2017. The fund is in line with the Central Government’s vision towards encouraging entrepreneurs and Start-ups for early stage & growth stage companies with new products & technologies or innovative business models. The investment under this scheme ranges from Rs. 25 lakh to Rs.10 crore per venture, which is long term in nature with investment horizon of 4-5 years.

            

The scheme is applicable for whole of the North Eastern Region including Assam. The list of proposals from Assam which have received investment commitment is as under:-

(Rs. in lakh)


Sl. NoName of companySectorsInvestment Amount for NERArea of operations of the company
1Terra Blue Exploration Technologies (P) LtdEpilepsy diagnostic and monitoring device (Artificial Intelligence & IT in Healthcare)200Assam
2ERC Eye Care (P) LtdAffordable eye care solution provider (Healthcare)150Assam, Nagaland &Arunachal Pradesh
3Pratyaksha Agrotech (P) LimitedTissue culture laboratory working on medicinal plants400Barak Valley, Assam, Tripura & Mizoram
4ParkingRhino Online Services Pvt LtdSmart parking solutions provider based on AI and machine learning250Assam & Karnataka
5Automovill Technologies Pvt LtdAggregator of automobile servicing centers for car repair and maintenance180Assam &Karnataka
6Symbiotic Food Pvt Ltd.Commercial breeding of Pigs for production and sale of piglets.100Assam, Nagaland, Arunachal Pradesh
7Northeast Flavors India Pvt. Ltd.Bhut Jolokia based sauce172.5Assam, Manipur, Nagaland, New Delhi & Mumbai
8Atvi Infotainment Pvt. Ltd.Online and TV based infotainment service for news, media and entertainment from North East India450North Eastern States
9EncloudenThe Company provides complete stake that can enable an enterprise to set up its own private cloud or VDI without any other product.450Assam & Karnataka (Bengalore)
10Izake Design and Consultancy Pvt LtdGift items, customized memorabilia, mementos and souvenirs etc with design-focused from Northeast culture.25Assam
11Umananda Dairy Private Ltd.Captive dairy farming ensuring delivery of fresh farm milk in greater Guwahati within 1-4 hours from Farm gate to Consumer Point.100Assam
12M/s Olatus Systems Pvt LtdElectronics Company35North East and Pan India
Total2512.5

This information was provided by the Union Minister of State (Independent Charge) Development of North-Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances & Pensions, Atomic Energy and Space, Dr Jitendra Singh in written reply to a question in Lok Sabha today.

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Source : PIB


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