Chief Minister Pema Khandu introduced the Arunachal Pradesh Entrepreneurship Development Programme (APEDP), aiming to foster a dynamic entrepreneurial ecosystem within the state.
Chief Minister Pema Khandu introduced the Arunachal Pradesh Entrepreneurship Development Programme (APEDP), aiming to foster a dynamic entrepreneurial ecosystem within the state.
Programme Overview
The APEDP is an initiative by the Department of Finance, Investment, and Planning, designed to provide comprehensive support to aspiring entrepreneurs. The programme’s primary objective is to transform local challenges into opportunities by nurturing sustainable and locally relevant business ideas.
Collaboration with IIM Calcutta Innovation Park
To ensure effective implementation, the state government has partnered with the IIM Calcutta Innovation Park (IIMCIP) as the knowledge partner. This collaboration aims to equip entrepreneurs with the necessary skills and knowledge to scale their ventures successfully.
Programme Structure
The APEDP is structured into four key stages:
- Arunachal Pradesh Entrepreneurship Challenge (APEC): The initial phase focuses on identifying and promoting innovative business ideas. Aspiring entrepreneurs are invited to submit their applications through the official portal.
- Pre-Incubation: Selected entrepreneurs will receive ground-level support to transform their ideas or prototypes into viable products or services with significant commercial potential.
- Incubation: This phase assists entrepreneurs who have a proof of concept or early-stage revenue-generating products/services in commercializing or scaling up their ventures.
- Livelihood Accelerator: The final stage aims to develop micro-entrepreneurs, contributing to comprehensive livelihood creation across the state.
Seed Funding Details
Following a thorough evaluation process, 50 top entrepreneurs will be selected for the incubation and pre-incubation programmes facilitated by IIMCIP. The top 10 entrepreneurs will be awarded up to Rs. 5 lakhs each, while the next 40 entrepreneurs will receive up to Rs. 4 lakhs each. This seed funding is intended to support the development and scaling of their business ventures.
Application Process
Interested individuals can apply for the Arunachal Pradesh Entrepreneurship Challenge by visiting the official website:
Conclusion
The launch of the APEDP underscores Arunachal Pradesh’s commitment to fostering entrepreneurship and creating a self-reliant society. By providing structured support and substantial seed funding, the programme aims to inspire the state’s youth to become job creators, thereby generating employment opportunities for many others.
