Meghalaya was named the Top Performer State at the National Startup Awards, 2022, which were held yesterday as part of National Startup Day.
It was named Best Performer the previous year, and the state is still making steady progress in building up its startup environment.
Meghalaya
This progress comes from the Chief Minister’s vision and direction. A few years ago, Meghalaya was in two very different situations.
On the one hand, the state had a huge numerical advantage: more than 72% of its people were under 35 years old. However, there weren’t many businesses that created jobs.
As an entrepreneur himself, Mr. Conrad Sangma came up with creative ways to get the state’s large group of young people to start their own businesses instead of looking for work. He led the work that led to the creation of the Meghalaya Startup Policy 2018. The goal when it was made was for the state to become “India’s leading startup hub by 2023.”
So that they could reach their goal, the state government started the PRIME (Promotion & Incubation of Market-driven Enterprises) program in 2020 to help create an environment for new businesses.
With its help, PRIME has sped up the state’s startup boom. The PRIME Incubation program and the Chief Minister’s E-Champion Challenge are two important parts of this work. It happens every year, and smart young people are chosen to present their business ideas to government officials, famous entrepreneurs, and experts in the field.
At the moment, the program helps more than 5,500 businesses and more than 200 startups. A lot of these have gotten start-up money and loans with no interest to help them grow.
As we speak, many “PRIME Hubs” are being built to help new businesses get started. These hubs will have modern workspaces and the tools they need to do things like processing, packing, and adding value.
These PRIME Hubs also make it easier for entrepreneurs to get their goods sold in markets around the world and at higher prices.
Since more than a year ago, these market linkage tactics have worked well in Meghalaya.
During the three-day “Zest Fest” in Bangalore in December 2023, a lot of Khasi mandarins with GI tags were sold. Earlier this year, the state sent its famous Kew Pineapples and Lakadong Turmeric to high-end stores in the Middle East.
Because of the way things are set up in Meghalaya, 20% of the money that is available through the PRIME program is only for women businesses.
There are a lot of women who have been helped by this and are now running successful businesses in traditional handloom and other new skills.
The CM-ELEVATE program was started by the Meghalaya government last year to take the PRIME program to the next level.
The program’s big goal is to help 20,000 businesses over the next 5 years by giving them 35–75% off the cost of their projects in 15 different trades. More than 30,000 people have already applied for the plan, which is a huge vote of confidence from the people.
Meghalaya was a “Focus State” at the World Food India 2023 event in New Delhi in November 2023. This was a lead-up to the Top Performing State Award.
The state won second place at the One District One Product (ODOP) Awards in January of this year, which were held in New Delhi as part of the Aatma Nirbhar Bharat Utsav 2024. With the Startup Award, the state now has even more awards to show off.
The awards are given only after a strict process that includes candidates being interviewed over the phone and companies being checked out legally by outside experts.
The Indian government has praised Meghalaya’s work in funding startups and offering assistance through incubation and mentoring.
At an event in New Delhi, Shri Piyush Goyal, who is the Union Minister for Commerce and Industry, gave the award to Dr. Vijay Kumar, who is the Commissioner Secretary for Finance and Planning for the Meghalaya Government.
This honor from the Union Government will definitely inspire young people in the state to start their own businesses and make Meghalaya an economic powerhouse in North East India.
