About the project
Sustainable growth in any business requires constant interventions in certain critical areas, such as; product and manufacturing process development; research to develop new set of products at economical cost and explore new marketing avenues. Such a mindset and effort always ensues when an entrepreneur is inclined towards innovations and constantly tries to catch the pulse of the market and competition. Evidences testify that entrepreneurs who innovate are able to reach strategic decisions at the opportune time, thus improving the prospects of business in competitive times. Hence it is important for entrepreneurs to make 'innovations' and 'technology' an integral part of their businesses. There are several instances of landmark technological innovations taking place in laboratories and not getting commercialized. Entrepreneurs are several times oblivious of such major research innovations as these remain within the four walls of the laboratory. It is important to bridge this gap and help entrepreneurs access these innovations. The project, 'Innovation-Science and Technology based Entrepreneurship Development (i-STED)' has been launched in the North Eastern Region to address this issue.
The Potential of the North Eastern Region
The North Eastern Region of the country is blessed with infinite natural resources for industrial development. The region is also emerging as a strong consumer market. However, despite its multiple avenues of growth, the region has not progressed on account of certain challenges such as - difficult geographical terrain, turbulent political environment and insurgency, poor infrastructure – all resulting in unemployment, meagre standards of living and widescale migration to the mainland India. It is appreciable that the Government has sought to float interventions to arrest the problems plaguing the region by floating viable opportunities backed by right policy measures. This project seeks to revive the industrial climate of the state by introducing modern, workable technologies and linking them up with trained entrepreneurs to ensure maximum impact. Concerted efforts under the Government of India's NER 2020 vision would further aid result oriented implementation of the Project, Innovation-Science and Technology based Entrepreneurship Development (i-STED). Government of India's NER 2020 vision document has the following goals:
- Empowerment of people be maximizing self-governance
- Rural Development with focus on farm and non-farm sector
- Focus on Development of sector viz. Hydropower, Tourism, Food Processing, Sericulture, and investment in manufacturing
- Capacity Building to promote Entrepreneurship
- Infrastructure Development like roads, railways, air transportation & power, Linkages to Myanmar and Bangladesh
- Adequate funds flow
- 10% of the budgetary allocation from all central Ministries of NER
- Special Ministry for NER named DoNER and a special council called NEC
- Special focus on MSME through NEIIP
Geographical region to be targeted over five years
The states of Assam and Meghalaya would be targeted over the first two years and gradually the project would be expanded to cover other states of NER on selective and merit basis (based on demand and absorption capacity). The duration of the project is 5 years.