Chief minister Neiphiu Rio urged entrepreneurs to build trust with customers in order to succeed in commercial ventures. He said this while launching the Entrepreneur Associates Innovation Fund (EAIF) Award under the theme “Stimulating innovation and entrepreneurship in the Northeast” organised by Entrepreneurs Associates (AE) at RCEMPA, Jotsoma on Friday.
Congratulating EA for many success stories, Rio also encouraged the entrepreneurs and businessmen in Nagaland to work with dedication and sincerity to create employment opportunities and improve the State’s economy. Citing his own example how banks had trusted him as an entrepreneur before he joined politics, Rio said building trust with others was a must for a businessman or leader and that once that trust was built, business opportunities would grow.
Admitting the hurdles of receiving financial support from banks due to the existing land holding system in the State, Rio informed the gathering that the State government had passed a resolution to amend land laws, especially in foothills, to attract investors though they would not be able to buy land. He said 78.96% businessmen on an average received bank loans across India in 2014, while for Nagaland the figures were only 26.09% in 2011 and 31.04% in 2014.
He said out of 74 RD blocks in the State, only 44 blocks had banking facilities as the remaining 30 blocks lacked access to banks.
The chief minister encouraged the local entrepreneurs to have a positive approach and dream big to be successful in life. He advised them to identify their strengths and draw up business plans in areas that had potential and with available raw materials, besides working hard accordingly. He said Nagaland had potential in tourism, agro-based industries and organic product. Rio encouraged the young minds to study and explore with seriousness the rich bio-diversity of “our land”. He assured the local entrepreneurs that his government would extend all possible help and support to them.
In his address on “Future of innovation and entrepreneurship in the region”, CEO & coordinator of Entrepreneur Associates (EA), Neichute Doulo said EA was started in 2000 with a group of likeminded people to promote entrepreneurship, besides helping each other in business. He said they knew that Nagaland must take up entrepreneurship and shift away from hankering after government jobs and from the subsidy culture.
Doulo said EA had been working to promote entrepreneurship through training, mentoring, advocacy and financing micro enterprises, adding this innovation award was a transition from retail business to business of ideas, innovations and start-ups. He said innovations and start-ups were powerful business processes that attracted investors, created income and generated employment opportunities, leading to social progress. He remarked that in today’s information-driven economy, money was created by innovation.
Expressing the hope that the new initiative would foster start-ups and create innovation hubs in Nagaland, He said it would attract investors and create jobs even as he assured that EA would not belie the trust and confidence of the government.
He said EAIF award had a cash component of Rs 2 lakh in cash for the innovators with three years of free mentorship for triggering innovation in Nagaland and its immediate neighbourhood.
Three persons were awarded the EAIF – Zenwang Konyak for “U-harvest” (or umbrella harvest), Peihauding Zeliang for “organic healing paste and bio-enhancer” and Tsenshithung Yanthan for “band saw” (portable sawmill) – and all of them received Rs 2 lakh each.
Besides, feast of merit entrepreneurship (FOME) awards were also given to Munosang, Chezhuto Yeptho, Moajungla Pongen, Sentinaro, Kupto Assumi, Davis Tungoe, Sungjemmar Jamir, Chonben Shitio, Vikai Jimo and Kewipunlu Chewang, all of whom received Rs 1 lakh interest-free loan. They were judged on various parameters
In the second session, additional chief secretary and finance commissioner Temjen Toy spoke on “Nagaland government’s perspective on innovation & entrepreneurship”, EA team leader from Manipur Gopen Keisham Moses spoke on “Entrepreneurial truth about failure”, renowned Naga model and founder of Hobby Haven, Ketholeno Kense Vihienuo spoke on “Why I got into business: Cache Naga” and Ete Coffee founder Lichan Humtsoe spoke on “Creating opportunities in Nagaland: The story of Ete Coffee”.
The programme was chaired by EA lead trainer Susan Angami, while the invocation prayer was said by City Church pastor Kedo Peseyie.
The welcome note was delivered by EA administrative coordinator Yutho Sangtam, special performance by Sungjemmar Jamir and vote of thanks given by Gopen Keisham Moses.
The programme was attended by advisers Dr Neikiesalie Kire and KT Sukhalu, besides State government officials, entrepreneurs, students and public.