Arunachal to expand investment park to boost start-ups
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Itanagar: Arunachal Pradesh CM
Pema Khandu
announced plans to expand the AP Innovation and Investment Park (APIIP) to accommodate more entrepreneurs, increasing the current capacity from 50 start-ups per year.
The expansion aims to enhance the AP Entrepreneurship Development Program, according to an official statement from the Chief Minister's Office.
Established in Aug 2020, APIIP serves as the state's primary incubator under the Arunachal Pradesh Start-Up Policy. It organizes annual start-up challenges to identify promising entrepreneurs, providing seed funding and offering nine-month incubation and pre-incubation programs to help them achieve commercial success.
In the past four years, APIIP has supported 106 start-ups across three cohorts, distributing over Rs 4.5 crore in seed funding. Notably, 38% of these start-ups are women-led, representing diverse sectors such as agriculture, handicrafts, IT, e-commerce, and tourism.
This year, APIIP became the first state incubator in India to use Artificial Intelligence for shortlisting start-up applications, selecting 50 new start-ups through this process.
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Khandu emphasized the need to expand APIIP's premises, assuring government support for the initiative. He, along with deputy CM Chowna Mein, awarded graduation certificates to Cohort 3.0 and prize money to Cohort 4.0 start-ups.
APIIP also signed Memorandums of Understanding (MoUs) with seven educational institutions to establish mentorship programs for new start-ups. These institutions include Arunachal Pradesh University, Pasighat; Arunachal University of Studies, Namsai; Dorjee Khandu Govt College, Tawang; Dera Natung Govt College, Itanagar; NERIST, Nirjuli; NIT, Jote; and Rajiv Gandhi University, Doimukh.
Khandu credited Prime Minister Narendra Modi's vision for a developed India by 2047 as an inspiration for these initiatives. He also announced the launch of YES Arunachal – Youth Empowerment Sphere, a platform for government schemes aimed at empowering young entrepreneurs. Khandu expressed confidence in APIIP's role in making this initiative successful.
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