In a significant stride towards fostering innovation and entrepreneurship, Chief Minister Pema Khandu of Arunachal Pradesh recently presided over an event organized by the Arunachal Pradesh Innovation & Investment Park (APIIP). This gathering marked the distribution of graduation certificates to 35 startups that completed the incubation and pre-incubation process under the APEDP 2.0. Furthermore, seed money was disbursed to 40 startups as part of the newly launched APEDP 3.0 on February 3, 2024.
The ceremony showcased the dedication and achievements of the graduating batch from Cohort 2.0, with these startups displaying their products and services. Chief Minister Pema Khandu commended APIIP CEO Tabe Haidar for elevating the organization to a level where Arunachal Pradesh received consecutive recognitions from the Government of India for promoting startups.
Addressing the budding entrepreneurs, Khandu encouraged them to dream big, emphasizing that the sky is the limit. He urged the startups to equip themselves with essential knowledge in banking, bookkeeping, and income tax laws, underscoring the importance of these skills for success in their chosen fields.
Taking a firm stand against the “money culture” in elections, Khandu called upon the young entrepreneurs to be ambassadors for societal change, advocating against practices detrimental to Arunachal Pradesh’s long-term well-being. He highlighted various investment platforms, including venture capitals and angel networks, and informed the audience that APIIP has incubated and provided seed money to 66 startups to date.
Deputy Chief Minister Chowna Mein expressed his satisfaction with APIIP’s progress in nurturing startup ventures. He acknowledged the unprecedented access to technology and information available to today’s youth, emphasizing how these resources position them as leaders of tomorrow. Mein particularly praised initiatives focused on environmental conservation, recognizing their correlation with the tourism sector.
Chief Secretary (in-charge) Kaling Tayeng underscored the significance of financial literacy, especially in bookkeeping and accounting, for startups. He delved into how share markets can serve as a valuable tool and highlighted the positive economic contributions of billionaire startups.
APIIP CEO Tabe Haidar shared insights into the organization’s broader initiatives, including providing internships to students from institutions like NERIST, RGU, and, starting this year, IIM Shillong. The APIIP also conducts boot camps to impart financial literacy to selected startups.
The event enjoyed the presence of MP Tapir Gao, Agriculture Minister Tage Taki, and principal secretaries, commissioners, and secretaries from various line departments.
Arunachal Pradesh’s commitment to nurturing and supporting startups through initiatives like APEDP reflects a visionary approach towards fostering innovation, economic growth, and the development of the state. The convergence of government support, mentorship, and financial backing creates an ecosystem conducive to the success of these budding entrepreneurs, contributing to the overall prosperity of the region. The APEDP program stands as a beacon for other states to emulate in their pursuit of a thriving startup culture.
