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Meghalaya Clinches Top Performer Award at National Startup Awards 2022

  • 18 Jan 2024

On 16th January, 2024, Meghalaya secured the prestigious title of Top Performer State at the National Startup Awards 2022, reinforcing its consistent commitment to fostering a vibrant startup ecosystem.

Key Points

  • Demographic Dividend: Meghalaya, with over 72% of its population below 35, faced a challenge of limited employment opportunities.
  • Entrepreneurial Vision: Chief Minister implemented innovative measures to transform the youth into job creators, leading to the Meghalaya Startup Policy 2018.
  • PRIME Initiative: Launched in 2020, the Promotion & Incubation of Market-driven Enterprises (PRIME) program catalyzed the startup revolution.
  • E-Champion Challenge: A recurring annual event under PRIME, providing a platform for young entrepreneurs to pitch ideas to industry experts.
  • Impact: Currently supporting 5,500 entrepreneurs and 200 startups, with many receiving seed funding and zero-interest scale-up loans.
  • Incubation Centers: PRIME Hubs offer state-of-the-art workspaces, infrastructure, and market access for entrepreneurs.
  • Success Stories: GI-tagged Khasi mandarins sold in Bangalore's 'Zest Fest,' and exports of Kew Pineapples and Lakadong Turmeric to the Middle East.
  • Matrilineal Society: Recognizing Meghalaya's matrilineal society, 20% of PRIME program funding is reserved for women entrepreneurs.