Manipur CM grants Rs 5.25 crore to 272 startups

Manipur Chief Minister N Biren Singh handed over a total monetary assistance of Rs 5.25 crore to 272 startups at the Manipur Start-Up Conclave organized by the state Planning department in Imphal on September 11.

Those who received assistance included eight beneficiaries in Stand-Up category, five in revenue stage and 259 in idea stage of the scheme.

Manipur Start-Up scheme was launched in 2017-2018 to build a strong eco-system for nurturing startups with an aim to drive sustainable economic growth and generate large scale employment opportunities.

Three rounds of selection of beneficiaries have been conducted so far since 2017-18 and provided benefit to 877 startups.

A beneficiary can avail up to Rs 1 crore with 30% subsidy depending on the scale of their business.

N Biren Singh said that there is no dearth of talent and competence in the state. Manipur start-up was introduced to extend assistance and encouragement to hardworking young entrepreneurs.

They had gained the much-needed impetus in their business ever since the scheme was introduced in 2017, the chief minister said and added that he is pleased to see that many local entrepreneurs are able to enter the global platform now after receiving assistance from the state government through the scheme.

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