Meghalaya is a small state in the North Eastern region of India with a predominantly tribal population (85.9 percent as per the 2011 census). The population of the State is 29.7 lakh, about 80 percent of the population lives in rural areas and is dependent on agriculture and allied activities for their livelihoods. The State Government seeks to promote Entrepreneurship and understands the need for private sector led growth as core development strategies. Accordingly, substantial efforts have been made in the last few years towards building an entrepreneurial ecosystem in the State.
The State Government has launched a comprehensive program that looks at enterprise promotion and incubation in a holistic manner. This program is called the PRIME (Promotion and Incubation of Market-driven Enterprises).
Key components of the PRIME program
PRIME’S Strategy and Approach
Segmentation of Entrepreneurs
Under the PRIME program, any individual or organization or collective producing goods and services for the market is considered an entrepreneur.
In Meghalaya, there are three broad segments of entrepreneurs, which are Startup Entrepreneurs, Nano Entrepreneurs, and Livelihood Entrepreneurs.
- They run innovation based enterprises, who produce value-added or improvised goods/services.
- These enterprises typically grow to have more than 20 employees and also include medium, small and micro enterprises as well as technology based startups.
- Area of coverage extends beyond a block or district.
- Tech startups
- Large exporters of agricultural produce