Arunachal Pradesh Investment Park Expansion Announced by Chief Minister Pema Khandu to Support Startups

Chief Minister Pema Khandu has announced plans to expand the Arunachal Pradesh Innovation and Investment Park (APIIP) to support more startups. This move is part of efforts to enhance the state's Entrepreneurship Development Programme (APEDP). Khandu also proposed upgrading the investment cell within the planning, investment, and finance department into a directorate to independently promote innovative ventures.

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At a recent event, Khandu and Deputy Chief Minister Chowna Mein awarded graduation certificates to Cohort 3.0 and prize money to Cohort 4.0 startups. APIIP also signed agreements with seven educational institutions to establish startup mentorship programmes. These institutions include Arunachal Pradesh University Pasighat, Arunachal University of Studies Namsai, and others.

Focus on Startup Diversity and Support

Khandu highlighted APIIP's achievements, stating, "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 span various sectors such as agriculture, handicrafts, IT, e-commerce, and tourism.

The chief minister praised APIIP for becoming India's first state incubator to use Artificial Intelligence for application shortlisting. This year, 50 new startups were selected through this method. However, Khandu believes this number is insufficient and pledged government support for expanding the premises by renting or constructing a new building.

Educational Partnerships and Youth Empowerment

Khandu announced that startup cells will soon be established within educational institutions to nurture student innovations. This initiative aims to ensure no promising idea goes unsupported. He acknowledged Prime Minister Narendra Modi's leadership in transforming India's entrepreneurial ecosystem through the Startup India mission.

The state government has launched 'YES Arunachal – Youth Empowerment Sphere', a platform for all government schemes aimed at empowering youth. Khandu expressed confidence that APIIP will play a crucial role in its success.

APIIP's Role in Entrepreneurial Growth

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 provides seed money along with nine months of incubation and pre-incubation programmes to help entrepreneurs achieve commercial success.

The event was attended by several cabinet ministers, the chief secretary, commissioner, representatives from Start-Up India, and mentors from IIT Delhi and IIM Shillong. Khandu emphasised that every road built and enterprise supported contributes towards a developed Arunachal Pradesh.

With inputs from PTI