Mnp CM distributes Rs 525.09 lakh to 272 startup beneficiaries

Mnp CM distributes Rs 525.09 lakh to 272 startup beneficiaries
N Biren Singh
Correspondent IMPHAL, Sep 11 | Publish Date: 9/11/2020 1:07:32 PM IST

Manipur chief minister N Biren Singh on Friday handed over monetary assistance of Rs 525.09 lakh to 272 start-up beneficiaries at the Manipur StartUp Conclave - 2020 organized by the state planning department in Imphal’s City Convention Centre. 

Beneficiaries included eight in StandUp category, five in revenue stage and 259 in idea stage of the scheme. Three rounds of selection of beneficiaries have been conducted so far since 2017-18 assistance provided to 877 startups.  Manipur StartUp scheme was launched in 2017-2018 with the objective of building a strong eco-system to nurture startups with an aim to drive sustainable economic growth and generate large scale employment opportunities. A beneficiary can avail up to Rs one crore with 30% subsidy depending on the scale of their business.

Addressing the conclave, Singh said that there was no dearth of talent and competence in the state, while claiming that hardworking young entrepreneurs gained the much needed impetus in their business ever since the scheme was introduced in 2017, he claimed. He added that he was pleased to see many local entrepreneurs able to enter the global platform after receiving assistance from the state government through the scheme. Expressing satisfaction on the good understanding maintained between the government and different banks in this regard, the chief minister said that it was due to this understanding that Manipur has been able to improve its economy in the last three and a half years.

Apart from StartUp, the chief minister said, these banks provided different loans to hundreds of hard working and deserving people on state government’s request.  “That’s how the present government has been able to build up a sound eco-system within a short span of time,” he claimed.

He informed that the state government is planning to provide bank loans to around 20,000 vendors whose business adversely affected by the prolonged lock-down and urged banks to expedite the process for vendors to restart vending activities soon.  On the Manipur StartUp scheme, he said applicants need not worry about closing dates from this year onwards as applications would now be received throughout the year.  New applications for the 4th round will open very soon and it will serve as an opportunity to those who have returned from outside the state after leaving their job due to COVID-19 pandemic, to set up their own business units here, he said.

Singh also informed that the under construction civil secretariat complex in Imphal’s Chingmeirong would be completed soon. 

For this, he said the Housing and Urban Development Corporation (HUDCO) has agreed to provide Rs 150 crore. 

With the financial assistance from the same corporation, a guest house would also be constructed at an estimated cost of Rs 260 crore at Old High Court complex, Imphal, he said.

The chief minister added that an art and culture complex would also be set up on the state’s land recently retained at Gurgaon (Haryana). The chief minister also informed that the construction of a new Manipur Bhawan at Dwarka in Delhi would begin soon.

State works minister Th Biswajit, CAF & PD minister Karam Shyam, water resources minister Letpao Haokip, public health engineering minister Losii Dikho, agriculture minister V Hangkhanlian, forest and environment minister Awangbow Newmai and some MLAs of the ruling parties also attended the conclave besides state chief secretary and other high ranking officials of the state government.


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