September 12, 2020: Assam has been recognised as an emerging startup ecosystem in India for its relentless efforts to create a supportive startup ecosystem in the state and encouraging the youths of Assam to take up entrepreneurship. Other states to receive the recognition include Andhra Pradesh, Chhattisgarh, Delhi, Himachal Pradesh, Madhya Pradesh, Tamil Nadu and Uttar Pradesh.

The announcement was made during the “States’ Startup Ranking 2019” programme held at the National Media Centre in New Delhi on Friday. The programme was attended by Piyush Goyal, Minister for Railways and Commerce and Industry and Som Prakash, Minister of State for Commerce and Industry, Hardeep Singh Puri, Minister of State (Independent Charge) Civil Aviation, through a video conference.

Assam Startup – The Nest has incubated 76 startups so far, providing them with dedicated mentorship, infrastructural support, market connects and crucial networking opportunities with India’s top investors.

Industries and Commerce Minister Chandra Mohan Patowary said, ‘The Nest has been able to reach out to over 9,000 student entrepreneurs across the state and has signed 18 memoranda with various colleges, universities and academic institutions in Assam towards developing incubation centres and working closely for supporting the fledgling startups.’ The Minister added that this recognition will boost up the spirit of all stakeholders in the startup movement and inspire the budding entrepreneurs to scale new heights in the days ahead.

Rigorous grooming of the first batch of 50 startups since their onboarding in June 2019 has resulted in incredible growth for the startups. Together, they have impacted 3.2 lakh lives, given direct employment to 1,690 people, generated total revenue of Rs. 11 crores and have together raised an aggregate funding of Rs. 7.2 crore. The second batch of 26 startups are currently receiving incubation support run in a Cohort mode.

Recently, Chief Minister Sarbananda Sonowal handed over cheques worth Rs. 3.3 crores to 31 incubated startups who had applied for financial benefits under the My Assam Startup Id (MASI).

With over 5,000 young innovators and fledgling entrepreneurs currently trying to realize their entrepreneurial dreams, the Assam Startup initiative has sown the seeds for raising a fertile entrepreneurial landscape in Assam. The recognition as one of the best emerging startup ecosystems comes as a catalyst that will further motivate the stakeholders and accelerate the growth of the startup ecosystem in Assam.