On 26th November 2024, PRIME Meghalaya in collaboration with the IFAD GAP Fund hosted a one-day awareness session at the PRIME Startup Hub, Shillong, aimed at educating startups and entrepreneurs on financial linkages and grant opportunities through the GAP Fund initiative.
The session began with an overview of PRIME Meghalaya and the GAP Fund, followed by in-depth presentations on grant structures and eligibility criteria. Shri Vivek Sinha introduced the Grant for Agroecology Program (GAP) Fund, highlighting its significance for Producer Groups and Micro and Small Enterprises (MSEs).
Two primary GAP Fund typologies were presented:
- Regular Fund:
- Open year-round for 10 target states, including Meghalaya
- Grant range: ₹20 lakhs to ₹1 crore
- Challenge Fund:
- Open quarterly to applicants across India
- Grant range: ₹1 crore to ₹2 crores
Smt. Sheena Kapoor walked participants through the GAP Fund selection and application process, offering clarity on steps to apply, proposal expectations, and timelines.
A compelling experience-sharing session followed, presented by Shri Joash Vargese from the All-Garo Hills Multipurpose Cooperative Society, who detailed how his organization secured GAP Fund support for a cashew plantation revival project as an alternative to the growing arecanut trend.
The session concluded with an open Q&A, during which participants sought clarifications on fund access and project fit. To ensure continuous learning, attendees were given access to the official GAP Fund website.
The day ended with a one-on-one interaction session led by Shri Syed Mufti Alam Rahman, who guided participants through the Concept Note application process and encouraged eligible entrepreneurs to apply and leverage this funding opportunity.Conclusion:
The IFAD GAP Fund Awareness Session successfully familiarized local entrepreneurs and MSEs with funding avenues available under GAP. It enabled deep interaction with fund experts, practical case learnings, and step-by-step clarity on application processes. The session reaffirmed PRIME Meghalaya’s commitment to enhancing financial connectivity for startups in the state.
