Thirteen shiitake strains were evaluated for proximate composition, mineral content, and bioactive constituents including total phenols and flavonoids using standard analytical protocols. The study revealed considerable variation among strains in terms of protein, carbohydrate, mineral elements, and antioxidant-related compounds. Multivariate analysis through Principal Component Analysis effectively differentiated the strains based on nutritional richness and bioactive potential, enabling the identification of strains with superior nutraceutical attributes suitable for targeted utilization and future improvement programmes. In addition to laboratory investigations, the project placed strong emphasison entrepreneurship development and skill enhancement. Multiple sensitization and hands-on training programmes were conducted on mushroom culture maintenance, spawn and mother culture preparation, and scientific cultivation of shiitake and other edible mushrooms. These programmes targeted farmers, students, and aspiring entrepreneurs, including participants from high-altitude and tribal regions of Manipur. The training activities enhanced technical knowledge, encouraged adoption of scientific mushroom production practices, and promoted mushroom-based livelihood opportunities. Overall, the project successfully integrated scientific evaluation with field-level capacity building, contributing to the advancement of mushroom nutraceutical research and supporting sustainable income generation through mushroom entrepreneurship.