Nurturing Innovation: An Insight into Assam Startup The Nest with Juri Tara
Nurturing Innovation: An Insight into Assam Startup The Nest with Juri Tara
Interviewee: Ms. Juri Tara, Administrative Executive, NEST, Guwahati
Interviewer: Kristi Flora Karki and Parimita Mahanta (Interns at Mahabahu)
Date and Location : July 05, 2024, Assam Startup Nest, Guwahati
Introduction: The NEST is the first ambitious initiative of Government of Assam under Industries and Commerce Department aimed at creating a Start-Up eco-system in Assam, whereby, youths / entrepreneurs can be job creators.
This facility is taking up initiative towards making Assam a leading Start-Up hub in India. The Nest is emerging as a vital resource for budding entrepreneurs / Start-Ups which offers all kinds of facilitates including documentation of the company or start-up, to help search appropriate market for products, mentorship, seed funds etc.
The interview highlights in detail about the infrastructure available, its functioning, facilities available in the centre and how new entrepreneurs / Startups can benefit by associating with it.
About the Interviewee: Ms Juri Tara is the Administrative Executive and Coordinator at the Assam Startup The Nest, Owner of Sunshine Professional Academy, Proprietor of Golden Shrub – the tea boutique.
She is an entrepreneur with administrative expertise and has years of experience in planning, team building and event handling. She has been an inspiration in creating a lively atmosphere to boost young entrepreneurs and innovative ideas alongside providing impeccable leadership, mentorship opportunities for Start-Ups.
The Interview
A. When a startup comes to work with us, we look through all of their documentation, regardless of the industry or stage of development, to see if they have all the necessary documents. Accordingly, we guide them on need basis. There are external and internal mentors to guide the Start-Ups. An external mentor essentially aligns or guides you appropriately on the type of business that will be profitable. Thus, the appropriate mentor will assist you in connecting with the market, growing your company, or altering your business plan if necessary.
Documentation, loan applications, selection of financial institution etc. are part of in-house (internal) mentoring program. Grants are awarded by the Government of Assam to a start up to launch or grow a business without having to be paid back to the government. Since there are numerous startups and entrepreneurs, grants have a limited budget and cannot be awarded to everyone.
A yearly or annual sum is given according to how credible their labor or business is. The highest-ranking Government officials select the amount of grant to be awarded to a particular start-up assessing their future prospect. Another source of funding comes from outside financial institutions, who invest in the start-up with the hope of getting profit.
It takes a lot of time to develop a business and without mentorship, it is impossible to know where to begin, how to start, etc. Hence, mentorship is essential for success of start-ups. Our main focus is to advise startups and entrepreneurs on issues related to fundraising, business paperwork, or product packaging.
Q. How many start-ups are currently associated with the Assam Startup – The Nest?
A. We have around 470+ startups now associated with us.
Q. What is your incubation process and what are the milestones and expectations?
A. We separate our incubation process into three phases-
- Ignite: Let’s say a startup has a product idea but hasn’t yet launched the product. This is the beginning stage of a start-up. While they put together a presentation on the product concept, they are unsure as to how to launch the company, where to seek funding etc. These kinds of startups belong to the ignite group. It lasts for four months.
- Nurture: This refers to a startup whose products are ready but requires some guidance or direction around product marketing. In such cases, we provide necessary advice on issues like, financial gain, market benefits, and business expansion strategies. Nurture lasts for six months.
- Elevate: in this a startup, when goods are already out and selling really well. These kinds of startups do require research in order to grow their business. The process generates an ID called MASI (My Assam Startup Id). For example, if a company is registered under OPC (One Percent Company), LLP (Limited Liability Partnership), or PVT (Private Limited Company), and its documentation is registered. In such cases, it can apply for MASI. With this ID, one can apply for funding and be linked to Assam Startup.
A few achievements of Assam Startups are as under:
- Maati Community by Pabitra Lama Sharma is a Mati Centre shop, meeting place and workshop space. Specializing in high quality handicrafts, handloom, arts and gifts items inspired and created by the rural craft people of the North Eastern region of India.
- Kuhi Bath by Shyamrenu enterprises LLP offers a line of natural, handcrafted personal care products made from floral waste. Their range includes soaps, shampoo bars, scrubs, bath bombs and salt, all free from chemicals and cruelty, with biodegradable packaging.
- Laajawab Spices by Dr. Sumon Deka is a food-tech company that aims to revolutionize our culinary experience. It believes in the transformative power of spices & herbs, which is why we focus on sourcing the finest, most exotic ingredients from the heart of Northeast India.
- Zerund Manufacturing Pvt. Ltd. by David Pratim Gogoi and others is a manufacturer and supplier of bricks, which are plastic embedded, light weight, cost efficient and earthquake and fire resistant.
Q. How do you facilitate connection and networking opportunities with investors, industry experts and potential customers?
A. Our thrust area is to provide guidance to every startup associated with us regarding documentation, exhibition of the business, fundraising, connection with the market, guiding on the profits of the market etc.
Q. How do you handle intellectual property and confidentiality for startups in the program?
A. The owner keeps information about their firm private, because they own a piece of the startup. It is our duty to offer advice on starting a firm, reaching out to markets, obtaining funds, etc. We encourage others to hear about our successful startup experiences, thus we don’t keep anything confidential from them. We uphold responsibility because we encourage startups to get in touch with us by reading about our successes, not just regionally, but globally as well.
Q. What are the biggest challenges you have faced while helping the startups?
A. Our people’s mindsets present our greatest problem. Individuals desire to establish and launch their own businesses, yet they are unwilling to put in the necessary work. They are opposed to implementing the new concepts into the company.
The fact that our people are not particularly tech-savvy is another major obstacle. Since we are unable to meet in person with everyone, we arrange virtual meetings. But it’s been observed that most startup attendees avoid the meetings since they don’t know how to use the available technology.
There are also people who choose not to attend the meeting because they believe in-person meetings are preferable to online ones.
Concluding Comments
Ms. Juri Tara [interviewee] was very welcoming and cooperative throughout the interview. Her replies were found to be very informative and professionally useful. Her expertise and vast experience in the field can be seen during the interview. This piece of interview will definitely encourage students, young entrepreneurs and new startups to associate with the NEST and take advantage of the facilities provided by NEST.
[Kristi Flora Karki and Parimita Mahanta are the students of the Communication & Journalism Department, Gauhati University]
Mahabahu.com is an Online Magazine with collection of premium Assamese and English articles and posts with cultural base and modern thinking. You can send your articles to editor@mahabahu.com / editor@mahabahoo.com (For Assamese article, Unicode font is necessary) Images from different sources.
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