ITANAGAR, 29 Feb: Chief Minister Pema Khandu on Thursday distributed graduation certificates to 35 startups who successfully completed the incubation and pre-incubation process under the APEDP 2.0, and disbursed seed money to 40 selected startups under the APEDP 3.0 launched on 3 February, 2024.
The event was organised by the Arunachal Pradesh Innovation & Investment Park (APIIP), under its Arunachal Pradesh Entrepreneurship Development Programme (APEDP) Version 3.0.
Among the 40 selected startups under the APEDP 3.0, the top 10 winners will receive Rs 5 lakhs each, while the remaining 30 startups will receive Rs 4 lakhs each, on a milestone basis.
They will also be receiving training, mentorship, incubation, and pre-incubation support from the APIIP for the next nine months.
The graduating batch of Cohort 2.0 startups displayed their products and services at the venue.
Khandu in his address praised APIIP CEO Tabe Haidar “for taking the APIIP forward to such a level that Arunachal Pradesh has won back-to-back recognitions from the government of India in startup promotion.”
“Dream big. Sky is the limit,” he said, and urged the startups to “equip yourselves with the nitty-gritty of banking, bookkeeping and income tax laws to be successful in your chosen fields.”
Khandu reiterated his stance against “money culture” in elections, and asked the young entrepreneurs to be “ambassadors of your societies to stop such culture that is not good for Arunachal in the long term.”
He spoke about various “investment platforms, such as venture capitals, and angel networks,” and informed that, “till date, the APIIP has incubated and provided seed money to 66 startups, and this year the APIIP is going to do the same for 40 startups,” pointing out that altogether 106 startups have already benefitted from the APEDP.
Deputy Chief Minister Chowna Mein, who also attended the event, expressed pleasure over “the progress made by the APIIP in nurturing aspiring startup ventures in Arunachal Pradesh through the APEDP.”
He spoke about how today’s youths have access to technology and information like never seen before, and how that can make them leaders of tomorrow.
He especially praised the efforts towards environmental conservation, citing its correlation to the tourism sector, as well.
Praising the efforts of the APIIP “in the context of startups leading the economy,” Chief Secretary (i/c) Kaling Tayeng delved into how share markets can be a good tool, and how billionaire startups contribute to the economy. He advocated financial literacy, “especially bookkeeping and accounting,” for startups.
The APIIP CEO in his address informed that, “apart from investment promotion and startup initiatives, the APIIP is providing internship to students of the NERIST and RGU.” He informed also that, “from this year, the APIIP will provide internship to students from IIM Shillong (Meghalaya), as well.”
“The APIIP also organises boot camps to teach financial literacy to the selected startups,” Haider added.
The event was attended also by MP Tapir Gao, Agriculture Minister Tage Taki, and principal secretaries, commissioners and secretaries of the line departments. (CM’s PR Cell)
