Kohima: Paving the way for a major boost to economic growth in Nagaland, the State has acquired its first-ever potential Foreign Direct Investment (FDI) through NagaEd, a locally based digital education company. The young startup, a state registered private company, in its core DNA, seeks to uplift quality education in tribal and indigenous communities.
NagaEd in a release, announced that it recently procured FDI from Australia and Singapore as well as domestically.
Founded by Kevisato Sanyü and Shiroi Lily Shaiza, the leading education technology company in Nagaland specializes in delivering contemporary, digitally-enabled educational experience for students, teachers and institutions. It offers teacher training courses and implementing digital learning management systems into local schools.
NagaEd is also involved in national and international programs that help build and scale start-ups such as the Alsisar Impact Incubation program, Amazon Web Services (AWS) Ed-Start Accelerator and IAspire-India Accelerator’s first all-women technology accelerator program.
According to the Department for Promotion of Industry and Internal Trade, India stands as one of the largest recipients of FDI inflows in the world, receiving USD 64 billion (Rs. 4,92,791 Crore) FDI in 2020, making it the fifth-largest recipient of FDI inflows in the world. However, the investment coming to the Northeast region stands at about 0.1%, out of which zero comes to Nagaland.
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FDI plays a substantial role in stimulating economic development, particularly in developing regions like the North-East. It creates a more conducive environment for companies and investors, in turn, helps stimulate jobs in the local economy. However, historic underdevelopment has deprived North-East states of capitalising on economic opportunities through FDI.
ALSiSAR Impact, a Frontier market incubation and impact advisory entity has been instrumental in NagaEd’s growth journey and facilitating investment in the North-East Region, the release said.
Alemtemshi Jamir, CEO, Investment & Development Authority of Nagaland (IDAN)
“NagaEd has pulled off a surprise by being the first to bring in FDI into Nagaland. This bunch of young people are indeed dynamic and enterprising. Apart from their novel intrusion into the area of Education in the State – that strives to synergize the systems of education with the “New Normal” using the digital mode – they have brought in foreign funds into Nagaland, in the form of Foreign Direct Investment. For a resource-starved state like Nagaland, this is music to the ears and heralds a new beginning for the youth”
Kevisato Sanyü, Founder, NagaEd
“NagaEd is demonstrating North-East companies are investment-ready with robust business models and the growth potential international investors are looking for. Our breakthrough in overcoming stringent compliance and regulatory requirements set by the Reserve Bank of India (RBI) is creating a clearing for other North-East companies to pursue global investment opportunities”
“Digital education is not a question of if, but when. Students today have a great opportunity to leapfrog into the 4th industrial revolution. We are preparing the next generation for the future of work by bringing the world’s best technology and practices into their classrooms today.”
“The arrival of foreign investors into Nagaland and the Northeast signals a new chapter for the region and a testament to the changed situation on the ground”
Laldinkima Sailo, Singapore based public policy and international affairs advisor.
“Foreign investments are sorely needed for the region where investment capital is scarce. Their expectation on returns can give a focus on creating efficiencies and give a boost to the startup and business ecosystem”
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Anuj Sharma, Founder & CEO, Alsisar Impact
“We wanted to build a new model for the entrepreneurs from the region so that they could derive inspiration from the extraordinary and indomitable entrepreneurial spirit that NagaEd founders Shiroi & Kevisato bring. This groundbreaking FDI also allows local people to believe that they can in fact lead a sustainable venture, and raise capital from the global investment community.”
Leneno Y Disong, The Vineyard Principal
“Our teachers are trained in digital skills and have moved beyond Whatsapp, Google Classroom & Zoom. The NagaEd platform is enabling them to use a lot of tools to enhance the teaching-learning process. With digital learning now occupying a significant role in education, it is crucial that our teachers are trained in this area. We hope to move forward incorporating the best of both traditional methods and modern digital practices.”
Click NagaEd to visit their website for more details