Guwahati, Apr 13 (IANS): To boost and create an entrepreneurial eco-systems among college students of northeastern region, Indian Institute of Entrepreneurship (IIE), an institution under the Ministry of Skill Development and Entrepreneurship, would set up Entrepreneurship Development Centres (EDCs) as well as Incubation Centres (IC) in higher educational institutions of northeastern region.

IIE Director Lalit Sharma on Thursday said that in the first phase IIE, with the support of North Eastern Council, would set up 30 EDCs and four ICs in higher educational institutes across the region.

Under this project, 50 selected student startups will be supported financially through one-time grant funding of Rs 5 lakh each to start their business.

Sharma said IIE is excited to take on this new responsibility and is confident that the initiative would help foster a culture of entrepreneurship and innovation among college students in the NE region.

According to the Ministry of Commerce and Industry, till March, there were a total of 1,143 registered startups throughout the eight states of northeast including Sikkim while during the same time period, there were 10,808 startups in Karnataka and 6,988 startups in Gujarat.

Sharma, who is initiating the project said : "Youth has played a significant role in developing startup ecosystems in mature ecosystems like Karnataka and Gujarat. IIE plans to develop the ecosystem of NER through college youth. IIE shall reach out to young college students by developing EDCs and ICs within the higher educational institutions of NER."