North East Entrepreneurship Development Scheme: Total cash reward worth Rs. 7.5 billion

Deadline: 31-Oct-22

Applicants are now invited to submit their applications for the North East Entrepreneurship Development Program (NEEDP), an initiative of the NEC (North East Council) implemented in association with IIM Calcutta Innovation Park, aimed at creating an inclusive entrepreneurial ecosystem that can help foster, economic development and job creation in the North East region.

Under this initiative, the North East Entrepreneurship Challenge (Hunt) is held for existing and aspiring entrepreneurs in the eight Northeastern states to identify a target group of 270 entrepreneurs through a systematic and transparent selection process. guaranteeing the representation of each State. . These startups will go through incubation (for startups in the revenue stage) and pre-incubation (for startups in the pre-income stage) programs – which will help them commercialize and grow their businesses.

Advantages
  • For the Incubation group: Marketing grant Rs 3 lakhs for 120 startups, additional Rs.7 lakhs for top 20 artists
  • For the pre-incubation group: Rs 1 lakhs prototype grant for 150 startups, additional Rs.4 lakhs for top 25 artists.
  • Connect to a strong network of mentors from a pool of seasoned entrepreneurs, angel investors, and senior executives in the corporate sector.
  • Access to a structured incubation program: Bootcamps and knowledge sessions will be led by speakers drawn from IIMC faculty, alumni, ecosystem partners, and experts in the field.
Eligibility criteria
  • Pre-incubation
    • The applicant must be an Indian citizen.
    • The applicant must be a permanent resident of any of the 8 states in North Eastern India.
    • The candidate must have a working idea or prototype with commercial viability.
  • Incubation
    • The applicant must be an Indian citizen.
    • The applicant must be a permanent resident of any of the 8 states in North Eastern India.
    • Applicant must either be in an early revenue stage or have established a proof of concept for the business model.
    • It is mandatory that at least one of the candidates in the team works full-time on the company.

For more information, visit https://www.iimcip.com/needp/#Competition


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