Meghalaya CM Announces Rs 125 Crore Corpus Fund to Help Entrepreneurs In The State
To aid the entrepreneurs in the state of Meghalaya, Chief Minister of Meghalaya Conrad K Sangma said a corpus fund of Rs 125 crore would be constituted over the next two years.
While addressing the PRIME Entrepreneurship Awards held at the Convention Centre on Friday, CM Conrad K Sangma said,
“A corpus fund of Rs 125 crore will be constituted over the next two years as PRIME Fund to aid the efforts of the entrepreneurs of Meghalaya.”
The PRIME Fund will provide a kickstart grant of Rs 5 lakh to scale-up innovation loans of up to 25 lakh.[Read: How To Write A Business Plan For Your Startup]
Conrad K Sangma added that he was happy to see artisans and entrepreneurs getting the opportunities and the much-needed handholding through the Ateliers Programme and the PRIME Meghalaya initiative.
The CM said,
“It feels great to see the sector that was left neglected for a long time being given the attention it requires to prosper.”
To show support to the musicians of the state, the chief minister also announced that the state government would introduce the ‘Chief Minister’s Music Award’ monthly.
PRIME Meghalaya Initiative
Subhrangshu Sanyal, IIMCIP CEO (IIM Calcutta Innovation Park), praised the commitment of the chief minister and said,
“The CM has set the vision to create the culture of job takers and not job seekers.”
D Vijay Kumar, Meghalaya Basin Management Agency CEO, said that the Meghalaya government, through ‘PRIME Meghalaya,’ wants to make entrepreneurship a preferred career choice for young people.
By creating an ecosystem that enables easy availability of credit, technology, skilling, and mentoring support, and access to markets, ‘PRIME Meghalaya’ wants to promote entrepreneurship among young people.
“Our mission is to provide systematic and targeted approach through a network of prime hubs that will be a one-stop-shop for the different segments of entrepreneurship in the state.”
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