StartUp Manipur : Over Rs 114 Cr provided to beneficiaries: CM
Source: The Sangai Express / DIPR

Imphal, October 25 2021: Chief Minister N Biren Singh has said that StartUp Manipur Scheme is supporting dynamic youths with promising innovative ideas, and Rs 114.56 crore has been sanctioned to different beneficiaries of different categories so far.

Altogether 5995 beneficiaries had been short-listed under the scheme so far, out of which, monetary benefits had been provided to 5477 beneficiaries.

He said these at the StartUp Conclave, 2021 organised by the State Planning Department at City Convention Centre, Palace Compound today.

Although StartUp was launched in 2015 by Prime Minister Narendra Modi, it was introduced by the BJP-led State Government in March 2018 .

Stating that Manipur has many talented and hardworking youths, the Chief Minister said that it is a matter of great satisfaction that different firms have been benefited under the StartUp Manipur scheme.

StartUp Manipur : Over Rs 114 Cr provided to beneficiaries: CM

The Chief Minister further said that StartUp Manipur had three categories - Revenue, Idea and Entrepreneurs Support Scheme (ESS) earlier.

This year, N Biren Singh added another sub-category under the Idea stage to address the impact of Covid pandemic on existing small business/trade owners.

Expressing gratitude to banks for extending co-operation in the successful implementation of the scheme, N Biren Singh, however, urged them to speed up the loan process.

He also urged the people of the State, especially talented and hardworking entrepreneurs to take the opportunity of StartUp Manipur.

The Chief Minister also announced that 'Go to Village 2.0' would commence from November, and it would be implemented alongside 'Chief Minister's Health for All' .

Speaking as the functional president, Deputy Chief Minister Y Joykumar observed that the beneficiaries should develop their business bit by bit taking the advantage of StartUp Manipur.

Works Minister Th Biswajit, in his speech, said that StartUp would enable Prime Minister Narendra Modi's slogan, 'Vocal for Local' and make Manipur realize 'Atmanirbhar' (self-reliant).

With the introduction of StartUp Manipur, the Minister said that there has been constant growth in the number of industries and entrepreneurs in the State.

This year, under the Idea Stage (COVID economic package) Rs.1 lakh each having Rs 30,000 subsidy will be provided to 4500 beneficiaries.

This amount may be enhanced up to Rs 3 lakh according to the performance of the beneficiary.

On the other hand, benefits worth Rs.1.2 crore (Rs 3 lakh of each beneficiary) will be provided to 40 beneficiaries under Idea Stage (Innovative).

Under Revenue Stage, new sanctions will be issued to 72 beneficiaries while 48 benefits have been selected under StandUp.