MeghaPreneur Expo 2024 Sparks Entrepreneurial Renaissance In Meghalaya

Hyderabad, Feb 13 (KNN) The recently concluded three-day PRIME MeghaPreneur Expo 2024, held at SRGT Polo Grounds, has ignited a new era of entrepreneurship in Meghalaya.

The event, honoured by the esteemed presence of Hon’ble Chief Minister Conrad K Sangma, has spotlighted the state government’s unwavering commitment to nurturing entrepreneurial talent and fostering economic growth.

During his address, Hon’ble Chief Minister Conrad K. Sangma reiterated the government’s vision to empower, engage, and employ the youth of Meghalaya through the promotion of entrepreneurship.

He underscored the ambitious CM-ELEVATE program, which encompasses 14 schemes spanning various sectors including agriculture, animal husbandry, tourism, sports, wellness, and entertainment. 

These initiatives cater to the diverse needs of both urban and rural communities, showcasing the government's dedication to comprehensive development.

The event's culmination featured several awards ceremonies, including the prestigious presentation of the CM-ELEVATE Award.

Hon’ble Chief Minister Conrad K. Sangma emphasised, "Our mission is to acknowledge and support as many entrepreneurs as possible, laying the foundation for a vibrant entrepreneurial culture. Through initiatives like CM ELEVATE, the most progressive entrepreneurship program, we aim to provide substantial support, offering up to 75 percent subsidy and comprehensive assistance to nurture business growth, logistical support, and administrative assistance."

During his speech, the Chief Minister highlighted the government's substantial support of approximately Rs 23 crores to assist 71 entrepreneurs in the first phase across various sectors. 

Notably, 57 per cent of these entrepreneurs hailed from the agriculture sector, while others represented tourism, sports and wellness, and common facility centres.

Among the 71 entrepreneurs, the Meghalaya Sports and Wellness Scheme received a subsidy of 35 percent, benefitting nine entrepreneurs.

Similarly, seven entrepreneurs received Common Facility Centres (CFCs) with a 75 percent subsidy, and 15 entrepreneurs benefitted from the Meghalaya Agriculture Warehouse Scheme, also with a 75 percent subsidy.

The Prime Agriculture Response Vehicle initiative supported 25 entrepreneurs from the agriculture sector with a 50 percent subsidy to purchase vehicles, and the Prime Tourism Vehicle Scheme assisted 14 entrepreneurs with a 50 percent subsidy to acquire luxury tourist vehicles.

Under the Meghalaya Motorcaravan Scheme, one entrepreneur received a 50 percent subsidy, representing a government contribution of Rs 25 lakhs to purchase a customised caravan.

Expressing gratitude for the overwhelming support received from the people of the state, Hon’ble Chief Minister noted the program's immediate success, with more than 29,000 entrepreneurs applying within the first two months of its launch.

While the application process is closed for all the schemes launched in September 2023, the Meghalaya Sericulture and Weaving Scheme, launched in January 2024, is currently accepting applications.

As evaluations continue for remaining applicants, the government remains committed to fostering economic growth and youth participation across diverse sectors in Meghalaya through the CM-ELEVATE initiative.

As the state marches towards its goal of becoming a USD 10 billion economy by 2030, it sends a resounding message – development, when driven by entrepreneurship, can be both empowering and inclusive.

(KNN Bureau)