INCUBATION & ACCELERATION

The Incubation program at PRIME is designed to support startups by offering personalized mentorship, resources, and guidance to help transform innovative ideas into thriving, scalable businesses.

The Acceleration program takes it a step further, providing fast-tracked support with mentorship, market access, and strategic assistance, helping startups grow, compete, and become funding-ready.

The flagship initiative behind PRIME is the Chief Minister’s E-Champion Challenge and PRIME Incubation Program, now in its sixth edition. It is a state-wide, recurring annual event through which the most promising entrepreneurs are selected in a rigorous process of pitching in front of industry experts, successful entrepreneurs, government officials, academic leaders and others.

A cohort of 75 entrepreneurs is selected to join the dedicated and structured 9-month intensive PRIME Incubation Program, under which they will receive the following benefits:

BENEFITS OF THE CHALLENGE

Top 35 entrepreneurs will each receive a Business Support Grant of ₹2 lakhs.

Remaining 40 will receive ₹1 lakh each.

Remaining 75 entrepreneurs from the Top 150 selected for the pitching and did not get through the Incubation program will have the opportunity to transition into the pre- incubation program, where they can further develop their business ideas.

OTHER SUPPORT PROVIDED TO ENTREPRENEURS

Exclusive networking opportunities with industry professionals.

Intensive mentoring and access to critical business resources such as marketing, legal, branding, and accounting services.

Market access to help them expand their customer base.

Free co-working spaces in Shillong and Tura (subject to availability).

Media visibility to help raise the profile of their businesses.

Diverse funding sources, including grants, loans, and venture capital, to help sustain and scale their ventures.

All participants are awarded Certificates of Excellence from the Government of Meghalaya and the IIM Calcutta Innovation Park, further validating their entrepreneurial efforts.

MAIN OBJECTIVES OF CHIEF MINISTER’S E-CHAMPIONSHIP CHALLENGE

  • Promote the spirit of entrepreneurship and enterprise ecosystem in the State of Meghalaya.
  • Identify promising business ideas and ventures through a fair, transparent, and rigorous selection process.
  • Encourage and support people to avail growing entrepreneurship opportunities.
  • Provide a state-wide platform for individuals and groups to think entrepreneurially while enabling them to realize their entrepreneurial ambitions.
  • Highlight and showcase existing and emerging entrepreneurs.
  • Provide recognition, rewards, and a range of support mechanisms for maturing business ideas.
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