Itanagar, Oct 13 — Arunachal Pradesh Chief Minister Pema Khandu on Tuesday announced new initiatives to strengthen the state's startup and investment ecosystem, including an Arunachal Creative Economy (ACE) programme and an expert think tank, the Institute for Transforming Arunachal (ITA), which he described as a “mini NITI Aayog” for the state.
The announcements were made at a programme marking the graduation of the fourth cohort and the commencement of the fifth cohort of the Arunachal Pradesh Entrepreneurship Development Programme (APEDP).
The Chief Minister also inaugurated satellite incubation cells in seven higher education institutions and witnessed the signing of memoranda of understanding (MoUs) with five more institutions. Khandu said the ACE programme, being developed through the Chief Minister's Office, would provide young people with creative ideas a platform to turn them into viable businesses.
The ITA would bring subject experts together to guide policymaking in sectors such as agriculture, allied activities and tourism. Khadnu said he was in touch with venture capitalists and would organise a conference where Arunachal-based startups could present their ideas to potential investors.
He also directed officials to consult the Department for Promotion of Industry and Internal Trade on possible incentives for startups transitioning into private limited companies or limited liability partnerships.
The Chief Minister asked officials to organise workshops for APEDP alumni on accessing national and international markets through digital platforms. He also directed the Arunachal Pradesh Innovation and Investment Park (APIIP) to expedite its conversion into a Section 8 company.
Launched in 2021 during the COVID-19 pandemic, APEDP has supported the launch of more than 150 startups, Khandu said. The programme's intake has been doubled from 50 to 100 startups, while seed funding has been increased from Rs 5 lakh to Rs 10 lakh and from Rs 4 lakh to Rs 8 lakh under different categories.
The fifth cohort will undergo nine months of incubation, with mentorship from institutions, including the Indian Institutes of Management.
Satellite incubation cells were inaugurated at Rajiv Gandhi University, Arunachal Pradesh University, Arunachal University of Studies, NIT Jote, NEDIS Nirjuli, Dera Natung Government College and Dorjee Khandu Government College. Five additional institutions signed MoUs to expand the incubation network.
The Chief Minister also launched the YES (Youth Empowerment Sphere) Arunachal portal, a single-window platform providing information on Central and state government schemes. Highlighting investment opportunities, Khandu said hydropower projects totalling 19,000 MW were at various stages of development.
Under the Rising North East Investment Summit, investments worth Rs 809 crore had been grounded, while proposed investments worth Rs 7,941 crore were being pursued.
He urged local communities to support investors and called on young entrepreneurs to strengthen their businesses through professional accounting, digital marketing and value addition to the state's 20 Geographical Indication-tagged products.
Khandu also highlighted the role of women-led self-help groups, involving around 1.5 lakh active women, in strengthening the rural economy and achieving the vision of Viksit Arunachal by 2047.