SIDBI Opens “Swavalamban Connect Kendra’s In Nagaland” To Enhance Entrepreneurship Ecosystem

SIDBI in association with Government of Nagaland shall set-up “Swavalamban Connect Kendra’s” (SCKs) in 16 districts of Nagaland to lead the change in the entrepreneurial ecosystem of Nagaland.

With a steadfast commitment to nurturing local talent and promoting economic growth, these interventions shall be significant milestones in SIDBI’s effort to drive sustainable development in Nagaland.

The event was graced by the Honourable Chief Minister of Nagaland, Shri Neiphiu Rio along with Shri Sivasubramanian Ramann, Chairman and Managing Director, SIDBI; Smt. Hekani Jakhalu, Advisor, Industries, Government of Nagaland; Dr Subhransu Sekhar Acharya, Chief General Manager, SIDBI; and Dr Aren, Senior Project Manager for Capacity Building.

The key initiatives launched included the inauguration of Swavalamban Connect Kendra (SCK) at Kohima. SCKs are aimed to emerge as one-stop centre to guide aspiring entrepreneurs to become job creators through awareness, mapping gaps, skill connect, create localized project profiles, credit connect, post-handholding support like market connect. SIDBI in collaboration with IDAN, an agency set up under Government of Nagaland which shall be the implementing agency for the project shall open 16 SCKs in all districts of the State to address the needs of aspiring entrepreneurs and unleash the potential of youth, drive job creation and spur economic development across the State.

Additionally, SIDBI announced Sports Scholarships to empower the youth and promote Innovation-Driven Enterprises in Nagaland. SIDBI & IDAN also signed an MoU to collaborate and partner to launch various initiatives for scaling up the StartUp ecosystem of Nagaland.

The need for these interventions in the State were felt to adequately skill the resources to explore self-employment and entrepreneurship opportunities in Nagaland. The launch of these initiatives underscores SIDBI’s unwavering commitment to harnessing the potential of Nagaland’s entrepreneurial talent & propelling the State towards a prosperous and inclusive future.

Speaking at the event, Shri Sivasubramanian Ramann, in his address, reiterated SIDBI's commitment to supporting the entrepreneurial aspirations of the youth in Nagaland and across the Northeast region. He highlighted the transformative impact that access to finance, mentorship, and market linkages can have on budding enterprises, paving the way for a vibrant startup ecosystem. The CMD of SIDBI, also reiterated that many projects are in pipeline for not only Nagaland but the focus on Northeastern Regions and its development in socio-economic diversity and will be implemented soon.

Smt. Hekani Jakhalu emphasized the role of entrepreneurship in driving economic resilience and social empowerment. She stressed the need for collaborative efforts between the government, private sector, and civil society to create an enabling environment for entrepreneurs to thrive. She expressed her gratitude to SIDBI for coming forward to support the State and its citizens in empowering the socio-economic scenario from the grassroot level.

About Small Industries Development Bank of India (SIDBI):

SIDBI is the Principal Financial Institution for Promotion, Financing and Development of the MSME sector. SIDBI has been playing a significant role in developing the financial services for MSME sector through various interventions including Refinance to Banks, Credit Guarantee programs, Development of the MFI sector, Creation of entrepreneurship, Contribution to Venture capital/AIF funds, MSME ratings, promoting digital lending ecosystem, etc. SIDBI has been touching the lives of citizens across various strata of society through its integrated, innovative, and inclusive approach. Be it traditional, domestic small entrepreneurs, bottom-of-the-pyramid entrepreneurs, to high-end knowledge-based entrepreneurs, SIDBI has directly or indirectly impacted the lives of Micro and Small Enterprises (MSEs) through various credit and developmental measures. To know more, check out: https://www.sidbi.in  

About Investment and Development Authority of Nagaland (IDAN)

Set up in 2018, Investment and Development Authority of Nagaland (IDAN) was created and notified as the State’s investment promotion and facilitation agency (IPA) under the Planning & Transformation Department of Government of Nagaland. The Governing Body of IDAN is chaired by Hon’ble Chief Minister of Nagaland and has Dy CM, Ministers, and Senior officials of other departments of States as Members.