Assam leads Northeast's startup surge with 1,487 ventures
Northeast has a total of 2,054 startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) as of December 31, 2024.
(Photo: @startup_assam / X) Representative image
Guwahati, Feb 14: Assam is at the forefront of Northeast India’s startup revolution, leading the region with 1,487 recognised startups out of the total 2,054, as per data from the Department for Promotion of Industry and Internal Trade (DPIIT) as of December 31, 2024.
This boost highlights the state's growing entrepreneurial spirit and its emergence as a key hub for innovation in the region.
The data, presented by Dr. Sukanta Majumdar, Minister of State in the Ministry of Development of North Eastern Region (DoNER), in a written reply to the Rajya Sabha, underscores Assam’s significant contribution to the startup landscape.
The state's dominance is evident, with Manipur following at a distant second with 179 startups, and Tripura at 141.
To further boost this momentum, the North Eastern Development Finance Corporation Ltd. (NEDFi), a non-banking financial company under the DoNER Ministry, has been playing a crucial role through the North East Enterprise Development Scheme (NEEDS).
This initiative supports first-generation entrepreneurs by offering term loans covering up to 75% of the project cost, with a maximum project limit of ₹50 lakh. The scheme provides an interest rate of 8% with a repayment period of up to seven years.
Assam’s startup ecosystem has also benefited from the ‘Startup India’ initiative, launched by the central government on January 16, 2016. This program aims to foster a robust environment for innovation, investment, and entrepreneurship across India, with special focus on the Northeast.
Under various government schemes, Assam has received significant financial support, contributing to the ₹5.74 lakh crore expenditure incurred by central ministries and departments for the region's development since the financial year 2014-15.
With strong government backing and increasing investment opportunities, Assam is set to remain a powerhouse of innovation, driving economic growth and fostering a vibrant startup ecosystem in the Northeast.