Manipur chief minister N Biren Singh on Thursday inaugurated a start-up incubation centre at Manipur Technical University (MTU) in Imphal.
The MTU set up the centre at its temporary campus at Government Polytechnic at Takyelpat in Imphal West with the support of the state planning department.
The incubation centre will guide and mentor identified and selected technology based start-ups.
Addressing the occasion, Singh said the incubation centre inaugurated on Thursday was very important as it will provide basic training and help in materializing an idea, gain financial assistance for the idea, financial management, marketing, etc.
He explained that the start-up programme was a dream of Prime Minister Narendra Modi to put a check on the brain drain of talented youth to outside the country due to lack of facilities, environment, infrastructure, financial assistance.
Asserting that start-up programme was beneficial to the state, the chief minister claimed that till date, the government has provided financial assistance to more than 5200 start-ups under the programme.
In his address, the chief minister expressed concern of the lack of professional ethics among the people from all walks of life and showing more interest to work for their own advantage.
“We should work together for the present and future generations,” he said.
Singh said he was impressed by the young students of the MTU, but also felt sorry for the poor infrastructure of the university.
He assured all possible assistance from the state government’s side for developing the infrastructures of the university. The main objective of the incubation centre is to facilitate and incubate the start-ups selected through the government of Manipur initiative, Start-up Manipur and others.
The incubation centre was set up in collaboration with Atal Incubation Center (AIC) -Sikkim Manipal University, Business incubation centre to handhold and provide technical expertise in the areas of innovation, entrepreneurship and start-ups.
The program will be a three-month incubation/accelerator comprising diagnostic sessions, one-on-one mentorship and master classes and finally, culminating into a demo day where start-ups will pitch in front of a panel of angel investors/ venture capital (VC) firms/families, offices etc. for potential fundraising by the start-ups.
Meanwhile, after the inaugural session, the centre also conducted an interactive session and discussed the future prospects and outcomes with 16 entrepreneurs/start-ups assigned by the planning department to the centre.