Arunachal CM Pema Khandu bolsters startups with certificates and seed money

Arunachal Pradesh Chief Minister Pema Khandu today distributed Graduation certificates to 35 startups, who successfully completed incubation and pre-incubation in the APEDP 2.0, and disbursed seed money to 40 selected startups under APEDP 3.0 launched on February 02, 2024. 

The event was organized by Arunachal Pradesh Innovation & Investment Park (APIIP) under its Arunachal Pradesh Entrepreneurship Development Program (APEDP) Version 3.0. 
Among the 40 selected startups under APEDP 3.0, the top 10 winners will receive Rs. 5 lakhs each, whereas 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 APIIP for the next 9 months.

The graduating batch of Cohort 2.0 startups displayed their products and services at the venue. 

Khandu in his address recalled how APIIP was inaugurated during the challenging days of the Covid pandemic and praised CEO APIIP Tabe Haidar for taking APIIP forward to such a level that Arunachal Pradesh has won back-to-back recognitions from the Government of India in startup promotion. 

He said that the innovative program was in line with Prime Minister Narendra Modi’s mantra of “Reform, Perform and Transform” for a Viksit Arunachal which will contribute to a Viksit Bharat. 

Stating that startups are the spearhead of that journey, he congratulated all the startups chosen under the program. 

“Dream big. Sky is the Limit,” he said and the startups to equip themselves with all the nitty-gritty of banking, book-keeping and income tax laws to be successful in their chosen fields. 

Taking the opportune moment of the presence of youths, Khandu reiterated his stance against ‘money culture’ in elections and asked the young entrepreneurs to be the ambassadors to their societies to stop such culture that is not good for Arunachal in the long term. 

He spoke about various investment platforms such as venture capital, and angel networks. He also informed that till date APIIP has incubated and provided seed money to 66 startups, and this year APIIP is going to do the same for 40 startups pointing that altogether 106 startups have already benefitted from APEDP.

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Deputy Chief Minister Chowna Mein, attending as the Guest of Honour, expressed his pleasure over the progress made by APIIP in nurturing aspiring startup ventures in Arunachal Pradesh through APEDP. 

He mentioned how today’s youth 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 their correlation to the tourism sector as well. 

Praising the efforts of APIIP and in the context of startups leading the economy, Chief Secretary in-charge Kaling Tayeng delved on how share market can be a good tool, and how billionaire startups contribute to the economy. He advocated for financial literacy, especially on book-keeping and accounting to startups.

Meanwhile, Tabe Haidar, CEO APIIP, informed that apart from investment promotion and startup initiatives, APIIP is providing internships to students of NERIST and RGU. He also informed that from this year APIIP will provide internship to students from IIM Shillong as well. 

“APIIP also organizes boot camps to teach financial literacy to the selected start-ups,” Haider added while highlighting some of the next action agendas that will include setting up a Venture Fund, knowledge exchange visits and internship opportunities.

The event was also attended by Member of Parliament Tapir Gao, Agriculture Minister Tage Taki and Principal Secretaries, Commissioners and Secretaries from Line Departments.