Daily Current Affairs Article 13th January 2021: The North East Venture Fund (NEVF), which is the first and the only dedicated Venture Fund for the North Eastern Region and was introduced by the Modi government, is gaining popularity among Start-Ups and young entrepreneurs.
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.
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It the first and the only Venture Fund for Northeast 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 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.
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