North-East Venture Fund (NEVF)
North-East Venture Fund (NEVF)
North-East Venture Fund (NEVF) is associated with the Ministry of Development of the North Eastern Region. NEVF was launched by the North Eastern Development Finance Corporation Limited (NEDFi). The North East Venture Fund (NVF) mainly focuses on investing in enterprises and providing resources for entrepreneurs from many regions. The investment is made mostly in enterprises such as Food Processing, Healthcare, Tourism, etc. The objective of the fund is to promote entrepreneurship and to maximize the investment return.
Vision and Mission of the Fund
The vision of the NEDF is to be the leader in the start-up environment in the north-eastern part of the Country. And providing them with all necessities such as capital, technological support, innovative ideas and create a platform with value for all the stake-holders. The mission of the fund is to promote entrepreneurship in the country and be a mentor for all the entrepreneurs. And helping them to attain higher growth and profit and maximize their profit and returns on investment in the North-eastern part of the Country.
Objectives
The primary objective of the North East Venture Fund is mainly to contribute to various entrepreneurship development. It also aims at attracting risk-free returns for long term capital. This can be done by investing in private equity investments.
Investment Policy
Investments will be made typically in start-up companies. Investments are made in companies that have innovative business models and technologies will bring many clients towards it and will facilitate high growth and profit. The investment manager has to select the business for investments.
Limitation of Investment
Each of the investments to be made will be limited to a maximum of Rs.10 crores to a minimum of Rs.25 lakh. Higher profitable and scalable with cost-effective business are chosen for investments.
Eligibility for Entry
- A Person who has entrepreneurial talents with innovative ideas and capability of implementation can avail the fund.
- A strong, manageable team with a good commitment level.
- Business models which have steady and sustainable growth.
- The Business that has a higher level of scaling opportunities.
- Those who understand the reality of exit potential.
Procedure
Entrepreneurs can visit the website for a more clear idea about the Northeast Venture Fund details. The entrepreneurs must submit the necessary details in their proposals, which include:
- Location and other area details of the company.
- Shareholders details and structure of the company.
- All other necessary details of the company and the teams involved.
The Proposal must also include:
- Fund required for the business and detail of utilization.
- Short view about financial focussing.
- The revenue model should be designed and submitted.
Entrepreneurs Complete Information Desk
Some of the brief about the information desk are listed below:
- The main initiative of the fund is to guide the first generation of entrepreneurs with innovative business ideas and techniques.
- There is a massive hike in entrepreneurship development by many young adults in the North-east region.
- The center was set up in all State capital.
- Many new start-ups are working in a new area or technologies such as e-pharmacy, cab aggregators, etc. These types of start-ups lack knowledge of proper regulations of the business, and lack of guidelines.
- Awareness was made among the entrepreneurs for underserved areas, building support, and availing subsidy under sponsored schemes.
- Similarly, awareness was created for various policy initiatives made by the government for the entrepreneurs.
Women Entrepreneurship
- To promote women entrepreneurship is also one of the main focuses of the Fund. Every State can reserve up to a dedicated percentage of seats for women entrepreneurs which enhances monthly allowance and venture funds for them.
Promotion about the Fund
- State Government organizes many events at regular intervals of the time period where many entrepreneurs, mentors, investors, and business people come together.
- Many entrepreneurship development programs are to be organized by the State Government in many colleges and universities to create awareness. This is known as a Massive open online course (MOOC).
- Start-up companies are supported for the participation of national and international events.
- Indian Government has taken up the ranking system for start-up companies, and currently, the ranking process is going on for the year 2019.
- This ranking system can be used as a reference for all the start-up entrepreneurs for their development. The ranking report for 2018 can be viewed for better understanding.
