Imphal, May 19 2022: North Eastern Development Finance Corporation Limited (NEDFi) Chairman PVSLN Murty has expressed interest to partner with Manipur government on VC funding for Startups. He said that the company will propose the state Government to jointly take up ‘Venture Capital Fund for Startups’ besides opening a branch office of the company at Churachandpur tomorrow.
Addressing a business meet held today at Imphal, he went on to convey that the company and the State Government will produce equal amounts in the scheme (Venture Capital Fund for Startups) . He said that NEDFi has been consistently expanding and promoting special schemes with lesser interests in the rural and semi-urban areas of the Northeast States, including Manipur till today.
The Chairman also mentioned various special schemes related to health sector, tourism, industry, hospitality and education being taken up in the Northeast States adding that NEDFi had recently provided loans in establishing and expanding two cancer hospitals in the State.
NEDFi Venture Capitalist, M Nickson Sharma informed that the company has so far funded over 50 companies in Northeast States, including 9 companies from Manipur.
Stating that NEDFi funding for startups has two categories (ticket size), with amount between 25 lakhs to 1 Crores and 1 Crores to 10 Crores, he maintained that those who want to venture in technology start-up, such as developing game apps can apply for taking venture capital fund from the company either through online or physical mode.
He also asked the online applicants to email at nickson@nedfiventure.com or nevf@nedfi.com .
