Welfare Schemes for Vulnerable Sections of the Population by the Centre and States

GS-2

4. NORTH EAST VENTURE FUND (NEVF)

IMPORTANT POINTS:

• • It is the first and the only dedicated Venture Fund for the North Eastern Region.
  • The Venture Fund Scheme launched by the Ministry of Development of North Eastern Region (DoNER) intended to promote growth of business ventures and skill development in the region.
  • The Fund was formed by the Ministry of DoNER and the North Eastern Development Finance Corporation Ltd with an initial corpus of Rs 100 crores.

• The fund targets to invest in Start-Ups and unique business opportunities to provide resources for new entrepreneurships.
• The main focus of North East Venture Fund (NEVF) is for mostly the enterprises involved in Food Processing, Healthcare, Tourism, segregation of services, IT, etc.
• The investment size with the Venture Fund Scheme ranges between Rs. 25 lakhs and Rs. 10 crores with a long term horizon of five to ten years.

SOURCE: PIB