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Time of India
2 days ago
- Business
- Time of India
Arunachal to expand investment park to boost start-ups
1 2 3 4 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. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo 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. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
Time of India
2 days ago
- Business
- Time of India
Arunachal's start-up incubator to scale up, CM announces expansion
Arunachal Pradesh Chief Minister Pema Khandu on Monday announced that the Arunachal Pradesh Innovation and Investment Park (APIIP) will expand its premises to accommodate more start-ups, increasing the annual intake from the current 50. He also said the Arunachal Pradesh Entrepreneurship Development Program (APEDP) will be widened to create more opportunities for local entrepreneurs. APIIP, set up in August 2020 under the Department of Planning, Investment & Finance, functions as the state's key start-up incubator. It conducts annual challenges to identify business ideas and provides selected entrepreneurs with seed funding, incubation, and pre-incubation programmes for up to nine months. 'In just four years, we have supported 106 start-ups across three cohorts, providing more than Rs 4.5 crore in seed funding, with an inspiring 38% of them being women-led enterprises. These start-ups represent the true diversity of Arunachal Pradesh – agriculture, handicrafts, IT, e-commerce, and tourism,' Khandu said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Look Sharp This Summer – Grab 15% Off Today Treffort Shirts Click Here Undo He highlighted APIIP's adoption of Artificial Intelligence for screening start-up applications this year, making Arunachal the first state in India to do so. Fifty ventures were shortlisted under this process. However, Khandu stressed that limiting the number to 50 was inadequate and assured state support to either expand the current premises or set up a new facility. During the event, Khandu and Deputy Chief Minister Chowna Mein distributed graduation certificates to Cohort 3.0 and prize money to Cohort 4.0 entrepreneurs. APIIP also signed MoUs with seven higher education institutions to launch mentorship programmes. These institutions will establish start-up cells to nurture student ideas. Live Events The partner institutions include Arunachal Pradesh University (Pasighat), Arunachal University of Studies (Namsai), Dorjee Khandu Government College (Tawang), Dera Natung Government College (Itanagar), NERIST (Nirjuli), NIT (Jote), and Rajiv Gandhi University (Doimukh). Khandu credited Prime Minister Narendra Modi's 'Startup India' mission as the inspiration behind these initiatives. 'His (Modi's) Startup India mission has transformed India's entrepreneurial landscape – from garages to global IPOs, from small towns to big tech hubs. In Arunachal Pradesh, every road built, every enterprise supported, every dream encouraged, is a step towards Viksit Arunachal,' he said. To strengthen youth participation, the Chief Minister announced the launch of YES Arunachal – Youth Empowerment Sphere, a platform bringing together government schemes for aspiring entrepreneurs. He also suggested upgrading the Investment Cell in the Planning, Investment & Finance Department into a directorate to enable more independent support for start-ups. The event was attended by cabinet ministers, senior bureaucrats, representatives from Start-Up India, and mentors from IIT Delhi and IIM Shillong.
