Daily PIB News: January 11, 2021

The North East Venture Fund (NEVF)

The North East Venture Fund (NEVF), which is the first and the only dedicated Venture Fund for the North Eastern Region and was introduced by the Modi government, is gaining popularity among Start-Ups and young entrepreneurs.

  • The Venture Fund Scheme launched by the Ministry of Development of North Eastern Region (DoNER) intended to promote growth of business ventures and skill development in the region.
  • Giving an update on the scheme, Union Minister of State (Independent Charge) Development of North Eastern Region (DoNER), Dr. Jitendra Singh said that the Ministry of DoNER had joined with North Eastern Development Finance Corporation Ltd (NEDFi) to set up the North East Venture Fund, the first and the only Venture Fund for Northeast with an initial corpus of Rs. 100 crores.
  • The fund targets to invest in Start-Ups and unique business opportunities to provide resources for new entrepreneurships.
  • The main focus of North East Venture Fund (NEVF) is for mostly the enterprises involved in Food Processing, Healthcare, Tourism, segregation of services, IT, etc.

ISRO to adopt 100 Atal Tinkering Labs

Atal Innovation Mission, NITI Aayog and Indian Space Research Organization (ISRO) announced that ISRO will be adopting 100 Atal Tinkering Labs across the country to promote education in the field of STEM, Space education and space technology related Innovations for school students.

  • An Atal Tinkering Lab provides a makerspace where young minds can give shape to their ideas through hands on do-it-yourself mode; and learn innovation skills.
  • To foster entrepreneurship and innovation, Atal Innovation Mission, NITI Aayog has established over 7000 ATLs across the country so far enabling over 3 Million+ students between Grade VI to Grade XII acquire a problem solving, tinkering and innovative mindset.
  • Through this collaboration, ISRO will facilitate coaching and mentoring of students in advanced cutting-edge technologies of the 21st century including those related to space.
  • The students will not only gain only theoretical but also practical and application-based knowledge of STEM and Space Education related concepts such as Electronics, Physics, Optics, Space Technology, Material sciences and many more.

Khadi Prakritik Paint

Union Minister for Road Transport & Highways & MSME Sh. Nitin Gadkari will be launching an innovative new paint developed by Khadi and Village Industries Commission on Tuesday, 12th January at his residence.

  • The eco-friendly, non-toxic paint, called“Khadi Prakritik Paint is a first-of-its-kind product, with anti-fungal, anti-bacterial properties.
  • Based on cow dung as its main ingredient, the paint is cost-effective and odorless, and has been certified by Bureau of Indian Standards.
  • The paint is free from heavy metals like lead, mercury, chromium, arsenic, cadmium and others. It will be a boost to local manufacturing and will create sustainable local employment through technology transfer
  • This technology will  increase consumption of cow dung as a raw material for eco-friendly products and will generate additional revenue to farmers and gaushalas