Summary of Initiatives – Entrepreneurship
- Launch of Meghalaya Start-Up Policy 2018: To emerge as one of leading “Startup Hubs” in India by 2023 through strategic partnerships, conducive ecosystem, investment and policy interventions, the policy has been launched to create conducive environment for Startups, empower Start-ups to grow through innovation and design, create a quality scientific ecosystem and enable its youth to pursue their dreams within the State.
- Launch of CM’s Meghalaya Entrepreneurship Recognition Award: With the objective of stimulating and achieving rapid economic transformation through entrepreneurship and micro enterprises by encouraging, motivating and fostering the spirit of enterprise in Meghalaya, the State Government has, through the Meghalaya Institute of Entrepreneurship (MIE), instituted the Chief Minister’s Entrepreneur of the Month Award programme of identifying, recognizing and awarding successful entrepreneurs of the month who have helped in providing opportunities for employment, transformed livelihoods and brought innovations which have created an impact both socially and economically through the Meghalaya-Entrepreneurship Recognition Award (MEG-ERA) launched in November 2019.
- Launch of the Chief Minister’s E-Champion Challenge on August 2019: The first of its kind Challenge was launched with an aim to create an ecosystem where people with workable ideas can walk into an enterprise facilitation center or an incubator and get the hand-holding support needed to navigate the complex web of markets, technology and credit.
- Launch of PRIME Program & PRIME Hub: Meghalaya Entrepreneurship & Start Up Summit was held on January 2020 to create a dynamic and collaborative ecosystem for entrepreneurship support and development in Meghalaya through PRIME (Promotion of Innovative and Market Driven Enterprises). The programme was organized by the Planning Department, Government of Meghalaya implemented by the Meghalaya Institute of Entrepreneurship (MIE), Meghalaya Basin Development Authority (MBDA) and Indian Institute of Technology- Calcutta Innovation Park (IIMCIP). The Summit witnessed the launch of PRIME Programme, Honouring of Meghalaya Chief Minister’s E-Champions (Top 100 Entrepreneurs), Unveiling the state’s Entrepreneurship Promotion Strategy and Inauguration of Meghalaya’s first ever incubation hubs, the “PRIME” hub, for state entrepreneurs which will provide handholding, mentoring and incubation support to start ups and persons with innovative business ideas in order for them to upscale their business. The PRIME start-up hub in Shillong is located at the Jawaharlal Nehru Sports Complex.
The Meghalaya Government through ‘PRIME Meghalaya’ wants to make entrepreneurship a preferred career choice for young people through the creation of an ecosystem that enables easy availability of credit, technology, skilling, and mentoring support, and access to markets. To give access to credit, the PRIME Fund will provide a kick-start grant of Rs 5 lakhs and scale-up Innovation loans of up to 25 Lakhs. On February 2021, the Chief Minister announced that a corpus Fund of 125 Crore will be constituted over the next 2 years to aid entrepreneurs in the state.
- Launch of “Restart Meghalaya Mission’ on 15th August 2020: Under this Mission, a corpus fund of 15 Crore has been created to provide the Grant component for the Chief Minister’s Support Program that will facilitate loans to small businesses and entrepreneurs to restart their business. ‘Restart Meghalaya Mission’ includes providing one-time grant support up to Rs. 10,000 for any new small business and loans up to Rs. 50,000 for small businesses and entrepreneurs under the Chief Minister’s Support Programme.
- Launch of the North-East Food Show on December 2019: The first edition of the North East Food Show by Meghalaya and Salon International de l’Agrolimentaire (SIAL) Group was held in December 2019. The Show aims to act as a platform for bringing together farmers, technology providers, entrepreneurs, buyers, chefs, hotels and all stakeholders in the food industry. The objective of the food festival is to give exposure, connection and opportunities to the farmers and entrepreneurs of the Northeast. The Northeast Food Show is focused on creating a global platform to ‘Inspire Food Business’ for this part of the country. The Northeast Food Show is also the curtain-raiser to ‘Charting a new course through food processing and supply chain management’ for the Northeast
- Awards & Recognitions: The North East Food Show 2019 won the Silver Experiential Marketing Award for “Best B2B Programme of the Year” at WOW Awards Asia 2020.