Khandu announces expansion of investment park to boost startups in Arunachal

New Delhi: The Chief Minister Pema Khandu on Tuesday announced the expansion of the Arunachal Pradesh Innovation and Investment Park (APIIP) to accommodate more startups, alongside strengthening the state’s Entrepreneurship Development Programme (APEDP).

He also suggested upgrading the investment cell of the planning, investment & finance department into a directorate to independently promote and invest in innovative ventures.

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Highlighting the achievements of the state’s marquee incubator, Khandu said, “In just four years, we have supported 106 startups across three cohorts, providing more than Rs 4.5 crore in seed funding, with an inspiring 38 per cent of them being women-led enterprises.”

These startups represent the true diversity of Arunachal Pradesh – agriculture, handicrafts, IT, e-commerce, and tourism, he said.

The chief minister hailed APIIP’s milestone this year by becoming the first state incubator in India to adopt Artificial Intelligence for shortlisting applications, through which 50 new startups were selected.

However, he felt the number was not sufficient and assured government support for expanding the premises, either by renting an existing building or constructing a new one.

At an event here, Khandu and Deputy Chief Minister Chowna Mein handed over graduation certificates to Cohort 3.0 and prize money to Cohort 4.0 startups.

On the occasion, APIIP also signed MoUs with seven educational institutions to set up startup mentorship programmes.

These 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).

Calling it another milestone, Khandu said startup cells would soon be established within these institutions to nurture student innovations and ensure no good idea is left unsupported.

Acknowledging Prime Minister Narendra Modi’s leadership, the CM said the Startup India mission has transformed India’s entrepreneurial ecosystem.

“In Arunachal Pradesh, every road built, every enterprise supported, every dream encouraged, is a step towards viksit (developed) Arunachal,” he added.

To further empower youth, Khandu said that the state government has launched ‘YES Arunachal – Youth Empowerment Sphere’, a one-stop platform for all government schemes, expressing confidence that APIIP will play a key role in its success.

Several cabinet ministers, the chief secretary, commissioner, representatives of Start-Up India and educational institutions and mentors from IIT Delhi and IIM Shillong were also present on the occasion.

APIIP was established in August 2020 under the department of Planning, Investment & Finance as the state’s marquee incubator for the Arunachal Pradesh Start-Up Policy. It organises annual start-up challenges to identify potential entrepreneurs and besides providing seed money, it offers 9 months incubation and pre-incubation programmes to support selected entrepreneurs to attain commercial success.

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