Former lecturer wins award for helping create 15,000 jobs in Nagaland, Manipur | Latest News India - Hindustan Times
close_game
close_game

Former lecturer wins award for helping create 15,000 jobs in Nagaland, Manipur

ByPTI, Guwahati
Oct 31, 2016 02:27 PM IST

Neichute Doulo, a former lecturer in Economics at Baptist College in Nagaland, won the ‘Social Entrepreneur of the Year Award 2016’.

A former college lecturer who helped create over 15,000 jobs across the north-east states of Nagaland and Manipur by training youths to become entrepreneurs has won an award by the Schwab Foundation for Social Entrepreneurship.

Neichute Doulo, a former lecturer, was awarded the Social Entrepreneur of the Year Award 2016.(Entrepreneurs Associates Nagaland/Facebook profile)
Neichute Doulo, a former lecturer, was awarded the Social Entrepreneur of the Year Award 2016.(Entrepreneurs Associates Nagaland/Facebook profile)

Neichute Doulo, a former lecturer in Economics at Baptist College in Nagaland, won the ‘Social Entrepreneur of the Year Award 2016’ given by the Schwab Foundation, which works closely with the World Economic Forum, in partnership with Jubilant Bhartia Foundation.

Hindustan Times - your fastest source for breaking news! Read now.

Leaving his secure job in 2000, Doulo launched Entrepreneurs Associates (EA) to teach the youths of insurgency-hit Nagaland basic skills, provide start-up capital and marketing network for initiating small enterprises.

This venture was his second attempt after 1992, when he had formed ‘Beacon of Hope’ to motivate youths to take up jobs that may even look small, but the process did not sustain and he joined a regular job of teaching.

“When we started, 13 of us at EA donated Rs 500 and one day’s wage as initial corpus. So, we started our journey with an initial capital of Rs 7,500. We began by making greeting cards and selling leather belts and bags, which helped us raise a few lakh rupees,” Doulo told PTI here.

After the humble beginning, EA went to the people seeking donations as an investment in the organisation, he added.

Now, EA provides financing at 16 per cent interest to youths to start their own small businesses and over 10,000 people have availed loans from it.

The organisation, which expanded its services to neighbouring Manipur around three years back, received RBI approval as a lending institution and has been instrumental in channelising over Rs 150 crore of loans with 100 per cent recovery to banks.

“It was a big challenge initially to motivate people. We have been able to create 15,000 jobs, either directly or indirectly, in Nagaland and Manipur,” Doulo said.

Currently, more than 2,700 enterprises are running successfully and over 3,500 farmers are on sustainable livelihood cultivation with direct support from EA.

Doulo says his organisation has been invited to impart training and launch other activities in Arunachal Pradesh and Assam by respective local governments.

Unveiling 'Elections 2024: The Big Picture', a fresh segment in HT's talk show 'The Interview with Kumkum Chadha', where leaders across the political spectrum discuss the upcoming general elections. Watch now!

Get Current Updates on India News, Lok Sabha Election 2024 LIVE along with Latest News and Top Headlines from India and around the world.
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Monday, March 18, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On