Entrepreneurship Ecosystem Overview

Tripura

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Levers of change – Entrepreneurship

Following are the key levers of change which determinewhether a state’s policy, education, legal framework, financialsystems, business markets, cultural and social ethos areaugmenting Entrepreneurship Growth:

1. The Entrepreneur

2. Govt. & Regulatory Support

3. Access to Finance

4. Educational & Cultural Preparedness

5. Mentoring & Networking

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The Entrepreneur

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Tripura ranks #25 in India on ‘Ease of Doing Business’ index

2017-18 according to the Department of Industrial Policy andPromotion's (DIPP).

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Govt. & Regulatory Support

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Govt. Regulatory Bodies:

• North Eastern Industrial Consultants Ltd (NECON)• NEDFI

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The North Eastern Industrial Consultants Ltd also has been promoted by a hostof All India Financial Institutions, banks and SIDCs including NIDC to provideconsultancy assistance and professional services to all classes ofentrepreneurs. NECON assists entrepreneurs in preparation of Project Reports,conducts and prepares Techno-Economic Feasibility Reports and alsoundertakes studies & surveys to identify suitable industries in the region.

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North Eastern Industrial Consultants Ltd (NECON)

NEDFi

NEDFi has a special focus on development of entrepreneurs in the region.Entrepreneurship in the real sense is still at its nascent stage in the NE. NEDFihas started Business Facilitation Centre (BFC) for providing consultancy andsupports in setting up a business enterprise. BFC helps in preparing projectreport and provides information about various incentives available in theregion. http://www.nedfi.com/?q=industry-policies-of-north-eastern-states-archive

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Access to Finance

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Schemes:

• NEDFi Schemes• North-East Venture Fund (NEDFi-DONER)• Tripura Industrial Investment Promotion Incentive Scheme-2017

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NEDFi Schemes• Rupee Term Loan (RTL) Scheme: To provide medium to long term

financial assistance for setting up of new, expansion, diversificationor modernization projects in various manufacturing or servicessector. The assistance shall be in the form of Rupee Term Loan.

• Equipment Finance Scheme: For financially sound companies, loansare provided for the purchase of equipment.

• Corporate Finance Scheme: For providing finance such as normalcapital expenditure, working capital margin, shortfall in workingcapital, repayment of high cost debt and general corporate purposelike funding of business acquisition or for brand building etc. whereno tangible asset creation may be envisaged.

• Working Capital Term Loan Scheme (WCTL): Upto a Maximum of75% of the working capital requirement of business for one cycle ofoperation is provided to deserving units in the form of workingcapital term loan.

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• NEDFI Equity Fund Scheme: To invest in projects promoted byentrepreneurs in North-Eastern Region having sound business ideaswith potential for high growth and more than normal returns oninvestment.

• NEDFi Opportunity Scheme For Small Enterprises : To provide longterm financial assistance for setting up a new industrial andinfrastructure projects as well as for expansion, diversification ormodernization of existing industrial enterprises excluding CommercialReal Estates.

• North East Entrepreneur's Development Scheme [NEEDS]: Theobjective of the scheme is to help first generation entrepreneurs whoare short of equity.Benefits can be extended to Proprietorship &Partnership Concerns and Companies. Technical qualification of thepromoter in the relevant field is a pre-requisite.

• Women Enterprises Development Scheme: It aims to providefinancial assistance in the form of Term Loan to womenentrepreneurs for taking up business ventures

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North East Venture Fund

• North East Venture Fund is a dedicated venture capital fund for the NorthEastern Region with a corpus of 100 Crores.

• The primary objective of North East Venture Fund (NEVF) would be toinvest in enterprises focused on and not limited to Food Processing,Healthcare, Tourism, Aggregation of Services and IT&ITES located in theNER and to provide resources for entrepreneurs from the region to expandthroughout the country.

• Investments will typically be in startups, early stage and growth stagecompanies with new products and technologies or innovative businessmodels.

http://www.nedfi.com/node/1207

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Tripura Industrial Investment Promotion Incentive Scheme-2017

Incentives under the scheme are:-

• Capital Investment Subsidy @30% on fixed capital investment subjectto a ceiling of Rs.60 Lakhs per enterprises.

• Procurement Preference on all purchases through tenders by StateGovernment Agencies on products manufactured in Tripura by eligibleenterprises.

• Industrial Promotion Subsidy equal to the net amount (net of inputtaxes) of the Tripura Value Added Tax (VAT), Central Sales Tax (CST)and any other commodity tax actually paid by an enterprise subject toan overall ceiling of Rs.60 lakhs per annum.

• Partial Reimbursement of Power Charges to the extent of 25% of thepower charges actually paid by the enterprise, subject to an upperceiling of Rs.12 lakhs per enterprise per year.

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• Partial Reimbursement of Interest on Working Capital Loans actually paidto banks/ financial institutions to the extent of 4% of the working capitalloan availed by the enterprise, subject to an upper ceiling of Rs.3.00 lakhsper annum.

• Reimbursement of Standard Certification charges/ fees/ expenses toeligible enterprises shall be paid one-time in full for standard certificationsin 10 selected areas issued by National and Inter-national Bodies.

• 100% Exemption from the payment of Earnest Money and SecurityDeposits to all eligible local enterprises on tenders floated by StateGovernment Agencies.

• Export Promotion Subsidy shall be paid to industrial enterprises underthrust sector on exporting goods through the Land Custom Stations in theState @ 10% on value of export subject to an upper ceiling of Rs. 20 lakhsper annum.

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http://industries.tripura.gov.in/sites/default/files/Whats%20new/TIIPIS-2017.pdf

Education & Cultural Preparedness

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Educational Institutions Promoting Entrepreneurship

• Tripura University: The institutes MBA offers dual specialization inEntrepreneurship Development & Small Business Management alongwith traditional areas of Marketing, Finance, and Human ResourceManagement. http://www.tripurauniv.in/index.php/2013-05-24-05-46-48/school-of-management

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Mentoring & Networking

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Startup Incubators, Co-Working Spaces

• NE8x- The objective behind starting the platform lies in addressingstart-ups and entrepreneurship at the grassroots level in NortheastIndia across the eight states. StartupNE is Northeast India's firstexclusive initiative undertaken by NE8x to promote entrepreneurship atgrassroots level with public-private partnership campaigns that aims toreach the eight Northeastern states of India. http://ne8x.in/

• MSME-Development Institute, Agartala: provides a wide spectrum of services to the Micro, Small and Medium Enterprise sector and also equips the unemployed youths with desired skills to enable them to be employed through setting up MSMEs. http://www.msmedi-agartala.nic.in/contact.html

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• Society for Entrepreneurship Development: It aims for developingentrepreneurship in Tripura by partnering with govt. organizations andconducting training programs. http://sofed.in/organization.htm

• TotalStart Tripura: It’s a non-profit organization aimed at buildingentrepreneurship ecosystem in far flung regions.http://www.totalstart.org/operations/tripura/

• Tripura state Council for Science & Technology: Science & Technologybased entrepreneurship development through training.http://www.tscst.nic.in/entrepreneurship_development_division

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Thank You.

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