Arunachal to become job givers, Govt announces new initiative for entrepreneurs

Chief Minister Pema Khandu launched the Arunachal Pradesh Entrepreneurship Development Programme (APEDP) and unveiled the ‘Arunachal Pradesh Entrepreneurship Challenge (APEC)’ as the first part of the APEDP on the eve of the 74th Independence Day.

The APEDP is aimed at “catalyzing an inclusive solution to the motley local challenges by developing a vibrant entrepreneurial ecosystem in the state and facilitating aspiring entrepreneurs with comprehensive support and nurturing”, CMO release said.

The initiative envisions a self-reliant society and a sustainable economy in Arunachal by encouraging aspiring entrepreneurs and strengthening their business know-how to help them scale new heights.

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One major goal of the programme is to inspire the youths of Arunachal to become job givers, rather than being job seekers, and, in the process, create livelihood opportunities for a thousand others in the state.

The IIM Calcutta Innovation Park (IIMCIP) has been given the mandate to run the programme as the ‘knowledge partner’ for the initiative.

The APEDP will be rolled out in four stages: the APEC, pre-incubation, incubation, and livelihood accelerator. The first stage was rolled out on Friday, and the contest portal for the APEC has been declared open. The challenge is the first step in identifying, promoting, supporting and nurturing sustainable and locally relevant business ideas and entrepreneurs.

Following a thorough evaluation and screening of the applications, 50 top entrepreneurs will be selected for the incubation and pre-incubation programmes facilitated by the IIMCIP.  The top 10 entrepreneurs will be awarded upto Rs 5 lakhs, and the next 40 entrepreneurs will be awarded upto Rs 4 lakhs.

The nine-month pre-incubation programme will involve providing ground-level support to the budding entrepreneurs to convert their ideas or prototypes into products/services with substantial potential for commercialization, and the nine-month incubation programme will involve helping the entrepreneurs with a “proof of concept or early stage revenue generating product/service to commercialize or scale up their ventures,” the release said.

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