While new ventures are gradually getting exhausted in other parts of the country, start-ups should try their fortune in the North Eastern region, said Union Minister of State of the Ministry of Development of North Eastern Region (DoNER) Jitendra Singh, on Sunday.

Addressing a gathering at the "Skill India" exhibition at the Jawaharlal Nehru Stadium in New Delhi, Jitendra Singh invited young Start-Ups from all over India to come to Northeast and try their fortune through unexplored potentials of the region.

While all the avenues of livelihood and new ventures are gradually getting exhausted in other parts of the country and States, the immense unexplored avenues and potentials of North Eastern region are still available and beckoning the young entrepreneurs to come and try their luck, the minister said.

In addition, Singh also referred to the decision taken by the Ministry of Northeast to provide "Venture Fund" to any youngster who wishes to set up an entrepreneurship in the region.

He said, this provision will be in addition to the provisions already available in Prime Minister's "Start-up India, Stand-up India" programme, which includes provision of tax holiday as well as 3-month exit period.

He disclosed that over 65 proposals from youngsters all over India are under process to avail of the "Venture Fund" for setting up entrepreneurship in the Northeast.

He also informed that the first lot of Venture Fund documents were handed over to the new Start-Ups by Prime Minister Shri Narendra Modi himself during his visit to Aizawl, Mizoram in December last year.

Launched a few months ago, “Venture Fund” has already become popular among the youngsters. If we are able to move forward with the plan that we have envisaged for ourselves, he said, the day is not far when Northeast will become a favourite destination for young Start-ups from all over India.

With its vast unexplored avenues, he said, those looking for livelihood will soon find a potential enterprise in the Northeast, particularly in fruit, food, handicraft and tourism industry, he added.