Applications open for Meghalaya Cinema Theatre Scheme.

CM-ELEVATE

The CM-ELEVATE is a State supported, credit linked flagship program, aiming to create a conducive environment for entrepreneurs to acceleratd private sector led growth. The program is intended to stimulate economic growth and development through increased credit flow into the economy, entrepreneurship development, and job creation.
“The CM-ELEVATE program is the next step to the PRIME program that we had started 5 years back and the CM-ELEVATE program targets 20,000 entrepreneurs in the next 5 years. We want to push and support entrepreneurs by giving subsidy, linking with banks allowing you to get easy finance as well as linking you with technology provider. This again is another massive step towards ensuring that we are creating that entrepreneurship spirit and pushing our entrepreneurs to really take that risk, follow that passion, be able to move towards the dream and really bring Meghalaya into the entrepreneurship map. – Conrad Sangma, Hon’ble Chief Minister of Meghalaya

Objectives of the Program

Economic growth of the state

The program envisages to accelerate and sustain economic development of the state through entrepreneurship development, job creation, infrastructure development, tourism promotion and investing in businesses to increase capacity and expand potential.

Increase credit flow into the economy

The credit linked program will improve access to loans for aspiring individuals and businesses who face difficulty in obtaining credits through traditional channels especially marginalized communities, small and medium sized enterprises (SMEs) etc. This will also encourage individuals to open bank accounts and use of digital financial service, thereby, promoting financial inclusion.

Encourage entrepreneurship

The objective of the program is to encourage entrepreneurship among local youth by providing them with necessary access to capital in getting a business off the ground. The entrepreneurs will also be equipped with necessary knowledge and skills through various capacity building programs and trainings needed to successfully implement and run their businesses.

Increase employment opportunities

By encouraging entrepreneurship and helping existing businesses to increase their capacities, the program is intended to create jobs for the local population. This will provide several benefits to the state in terms of its economic, social, and overall wellbeing.

Encompass diverse needs of the people

The program is designed to cater to diverse needs of the people spanning across sectors such as agriculture, horticulture, animal husbandry, tourism, entertainment, wellbeing, power etc.

Single window portal for entrepreneurs to apply

The individual entrepreneurs, various registered and unregistered entities of the state will have a unified online platform to apply for any business venture across various sectors tailored to their specific needs.

Financial and handholding support

To minimize the risks associated with credit flow, financial support on various schemes ranging from 35 to 75 percent of the project cost shall be provided to selected applicants. A complete handholding support in several forms of assistance and capacity building programs will be provided so as to ensure effective access and utilization to the resources provided by the government

Sectors covered under CM-ELEVATE

Sports & Wellness

Aimed at promoting establishment of sporting units in Meghalaya which will serve as centers for sporting excellence, providing institutions that will create platforms for potential sportsmen to grow and develop their skills, regular sporting activities can also be conducted at both local and national levels, allowing participants to showcase their abilities.

Agriculture

Designed to uplift the rural economy among the 77% of the Meghalaya’s population residing in rural areas through promotion of entrepreneurship and community involvement. The agriculture schemes under the program encompass wide range of farmers’ needs in terms of facilitating agro-logistics services, infrastructure developments such as building warehouses, polyhouses and common facility centers.

Tourism

Envisioned to promote tourism in Meghalaya through strategic initiatives by promoting affordable homestays, luxurious agro-tourism villas, luxury tourism transport and caravan tourism through youth and community engagement, entrepreneurship, and job creation at local level.

Animal Husbandry

Aimed at uplifting the livelihoods of farmers and entrepreneurs by fostering piggery, poultry, goatery farming and dairy development as significant economic activities. The program provides financial aid, training, capacity building, and mentorship to help farmers improve their production, boost their income, and address nutritional challenges in the state.

Entertainment

Aimed to enrich the cultural and recreational experience of the community by establishing Cinema Theatres across Meghalaya which will not only screen movies but play a pivotal role in promoting local film talents by acting as platform for emerging filmmakers to showcase their works in nurturing and amplifying the unique voices and stories from the community.

Open Ventures

Aimed at providing support to entrepreneurs an opportunity to turn their innovative ideas into thriving businesses which may include music studios, restaurants, food trucks, handicraft and handloom units, processing units, production units, packaging units, cultural and heritage units etc.

Introduction

The Government has envisioned to double its GSDP to make Meghalaya a USD 10 Billion economy by 2030. It aims to be among the top states in the country in terms of per capita income and to achieve the Sustainable Development Goals. To accomplish this ambitious vision, the government is prioritizing infrastructure development, promotion of ease of doing business, designing, and implementing programs that would engage and empower its people to attain the desired economic growth. Furthermore, entrepreneurship and youth empowerment are identified as two critical pillars that hold the potential to transform Meghalaya’s economy into a dynamic and thriving one.
By harnessing the productivity of the youth by engaging them in various economic generation activities in multiple sectors such as agriculture, horticulture, animal husbandry, tourism, entertainment, wellbeing etc., the state can unlock opportunities for growth and development. Encouraging individuals to manifest their innovative ideas into tangible businesses, providing them with necessary resources, and creating an enabling ecosystem will not only lead to the creation of new job opportunities but also fuel local innovation, attract investments, and contribute to overall economic resilience. Thus, investment and enhancing productivity are necessary to accelerate Meghalaya’s economic growth to equalise its per capita income with that of the country’s average by 2030.

The CM-ELEVATE is a State funded flagship program, aiming to make the youth partners of development by engaging and empowering them through entrepreneurship. This program is specifically designed to provide support to individual entrepreneurs, collectives, village organizations and traditional institutions to take up various businesses. To financially assist such initiatives and ensure easy access and affordable credit to the aspiring entities, Government of Meghalaya has partnered with various public and private sector banks. Adequate credit availability will encourage aspiring entrepreneurs to secure loans to start new ventures; to expand their existing businesses and invest in new technologies and increase capacity; and encourage growth of SMEs leading to higher employment generation and increased income of the local population. In this way, the program will increase the credit flow, thereby, significantly stimulating economic growth and development. 

However, the State Government also understands the various potential risks associated with credit flow such as financial instability, over indebtedness etc. To minimize such risks, Government of Meghalaya has decided to provide necessary financial assistance to the tune of 35% to 75% of the project cost in the form of capital subsidy and operational subsidy as EMI co-payment. Additional handholding support such as trainings, skill development programs and capacity building programs by various government departments to successfully implement individual projects will be provided. Under the program, the individual entrepreneurs, various registered and unregistered entities of the state will have a single window portal to select and apply for any business venture spanning across various sectors based on their specific needs.

Program Details

FAQs

It is a state funded flagship program, designed to provide support to individual entrepreneurs, companies, collectives, village organizations and traditional institutions to take up various businesses.

Planning, Investment Promotion & Sustainable Development Department is the nodal department for overall implementation of the program.

CM Elevate program covers various sectors, including agriculture, horticulture, veterinary and animal husbandry, tourism, entertainment, sports, wellness, and any business venture of economic interest for the people of the state. Please refer each scheme under the Programme for more detailed information.

  • Individuals from Meghalaya
  • Registered entities from Meghalaya such as societies, companies, corporations, organizations etc.
  • Non-registered entities from Meghalaya such as Self-Help Groups (SHGs), Village Organizations (VOs), Producer Groups (PGs) etc.

Individual entrepreneurs must be between 18 and 58 years of age.

One can apply “online” through CM’s Elevate Program Portal by selecting any scheme based on his/her need.

The deadline for submitting applications in the first phase is 31st October 2023.

The applications will be processed by the implementing agencies responsible for implementing the schemes.

No changes will be applicable after submission. It is advisable that the applicants read and answer each question carefully and all changes should be made before submitting the application.

Yes, you can choose any bank from the partnered banks for the scheme.

The repayment period is different from one scheme to another.

The subsidy from the government will be disbursed through the partnered banks.

Yes, the implanting agency will notify on the trainings to be provided to the entrepreneurs.

The training to be provided by the implementing agencies will be mandatory for the entrepreneurs.

The implanting agency will notify on the trainings locations from time to time.

No, the trainings will be provided free of cost for the entrepreneurs.

The implanting agency will notify on the training duration from time to time.

Applications shall not be ordinarily considered for the following

  • Government employees (currently employed / retired and drawing pension) and their dependents.
  • Pressure groups and organizations that are primarily political in nature.

No, only residents of Meghalaya are eligible to participate in the scheme.

The required documents as mentioned in the individual scheme guidelines are required to be submitted to eligibility.  However, in general the following documents are required.

  • Residency proof which includes Aadhar card, voter id, driving license, passport.
  • Land ownership/lease certificate such as sale deed, registration certificate etc wherever applicable
  • No objection certificate from the headman wherever applicable
  • Letter of certification from the Block Development Officer (BDO) as a proof of involvement with the sector related to the scheme
  • Pan card, if available
  • Income tax return copy, if available
  • Latest bank statement, if available
  • GST certificate and statement of return, wherever applicable
  • Any other document as specified by the implementing agency and the partner banks.

Aadhar linkage is mandatory to receive the benefits of annual rate of interest subvention up to 3%  for the following schemes under the Interest Subvention Scheme implemented by  Reserve Bank of India (RBI) and National Bank for Agriculture and Rural development (NABARD). However, entrepreneurs are requested to visit any of the partner banks for more information on the same.

No, you cannot apply for more than one scheme.

There is no application fee.

The prerequisites are scheme specific. Kindly go through the scheme guidelines specific to your area of interest to understand further.

If your application is rejected by the implementing agency, please write to understand the reasons of your rejection.

The financial assistances are in the tune of 35% to 75% and are different from one scheme to another. Please refer to the specific scheme guidelines to understand the support provided by the government.

Interest rates may vary depending on the bank you choose for credit support. You should inquire with the selected bank for specific interest rate details.

All selected entrepreneurs will be required to sign a tripartite contract with the respective implementing agencies and the financing partner providing loan.

Government has the right to terminate the contract and following which entrepreneurs are required to return the entire fund support received from the government with an additional annual interest charge and may also include legal action on the entrepreneurs for following reasons,

  • Any breach in utilization of funds,
  • If entrepreneur is found not to abide by the terms and conditions of the contract and found to be engaged in fraudulent /illegal/criminal activities.

Planning, Investment Promotion & Sustainable Development Department, Government of Meghalaya, 

Departments

CM-ELEVATE

The CM-ELEVATE is a State supported, credit linked flagship program, aiming to create a conducive environment for entrepreneurs to acceleratd private sector led growth. The program is intended to stimulate economic growth and development through increased credit flow into the economy, entrepreneurship development, and job creation.
“The CM-ELEVATE program is the next step to the PRIME program that we had started 5 years back and the CM-ELEVATE program targets 20,000 entrepreneurs in the next 5 years. We want to push and support entrepreneurs by giving subsidy, linking with banks allowing you to get easy finance as well as linking you with technology provider. This again is another massive step towards ensuring that we are creating that entrepreneurship spirit and pushing our entrepreneurs to really take that risk, follow that passion, be able to move towards the dream and really bring Meghalaya into the entrepreneurship map. – Conrad Sangma, Hon’ble Chief Minister of Meghalaya

Objectives of the Program

Economic growth of the state

The program envisages to accelerate and sustain economic development of the state through entrepreneurship development, job creation, infrastructure development, tourism promotion and investing in businesses to increase capacity and expand potential.

Increase credit flow into the economy

The credit linked program will improve access to loans for aspiring individuals and businesses who face difficulty in obtaining credits through traditional channels especially marginalized communities, small and medium sized enterprises (SMEs) etc. This will also encourage individuals to open bank accounts and use of digital financial service, thereby, promoting financial inclusion.

Encourage entrepreneurship

The objective of the program is to encourage entrepreneurship among local youth by providing them with necessary access to capital in getting a business off the ground. The entrepreneurs will also be equipped with necessary knowledge and skills through various capacity building programs and trainings needed to successfully implement and run their businesses.

Increase employment opportunities

By encouraging entrepreneurship and helping existing businesses to increase their capacities, the program is intended to create jobs for the local population. This will provide several benefits to the state in terms of its economic, social, and overall wellbeing.

Encompass diverse needs of the people

The program is designed to cater to diverse needs of the people spanning across sectors such as agriculture, horticulture, animal husbandry, tourism, entertainment, wellbeing, power etc.

Single window portal for entrepreneurs to apply

The individual entrepreneurs, various registered and unregistered entities of the state will have a unified online platform to apply for any business venture across various sectors tailored to their specific needs.

Financial and handholding support

To minimize the risks associated with credit flow, financial support on various schemes ranging from 35 to 75 percent of the project cost shall be provided to selected applicants. A complete handholding support in several forms of assistance and capacity building programs will be provided so as to ensure effective access and utilization to the resources provided by the government

Sectors covered under CM-ELEVATE

Sports & Wellness

Aimed at promoting establishment of sporting units in Meghalaya which will serve as centers for sporting excellence, providing institutions that will create platforms for potential sportsmen to grow and develop their skills, regular sporting activities can also be conducted at both local and national levels, allowing participants to showcase their abilities.

Agriculture

Designed to uplift the rural economy among the 77% of the Meghalaya’s population residing in rural areas through promotion of entrepreneurship and community involvement. The agriculture schemes under the program encompass wide range of farmers’ needs in terms of facilitating agro-logistics services, infrastructure developments such as building warehouses, polyhouses and common facility centers.

Tourism

Envisioned to promote tourism in Meghalaya through strategic initiatives by promoting affordable homestays, luxurious agro-tourism villas, luxury tourism transport and caravan tourism through youth and community engagement, entrepreneurship, and job creation at local level.

Animal Husbandry

Aimed at uplifting the livelihoods of farmers and entrepreneurs by fostering piggery, poultry, goatery farming and dairy development as significant economic activities. The program provides financial aid, training, capacity building, and mentorship to help farmers improve their production, boost their income, and address nutritional challenges in the state.

Entertainment

Aimed to enrich the cultural and recreational experience of the community by establishing Cinema Theatres across Meghalaya which will not only screen movies but play a pivotal role in promoting local film talents by acting as platform for emerging filmmakers to showcase their works in nurturing and amplifying the unique voices and stories from the community.

Open Ventures

Aimed at providing support to entrepreneurs an opportunity to turn their innovative ideas into thriving businesses which may include music studios, restaurants, food trucks, handicraft and handloom units, processing units, production units, packaging units, cultural and heritage units etc.

Introduction

The Government has envisioned to double its GSDP to make Meghalaya a USD 10 Billion economy by 2030. It aims to be among the top states in the country in terms of per capita income and to achieve the Sustainable Development Goals. To accomplish this ambitious vision, the government is prioritizing infrastructure development, promotion of ease of doing business, designing, and implementing programs that would engage and empower its people to attain the desired economic growth. Furthermore, entrepreneurship and youth empowerment are identified as two critical pillars that hold the potential to transform Meghalaya’s economy into a dynamic and thriving one.
By harnessing the productivity of the youth by engaging them in various economic generation activities in multiple sectors such as agriculture, horticulture, animal husbandry, tourism, entertainment, wellbeing etc., the state can unlock opportunities for growth and development. Encouraging individuals to manifest their innovative ideas into tangible businesses, providing them with necessary resources, and creating an enabling ecosystem will not only lead to the creation of new job opportunities but also fuel local innovation, attract investments, and contribute to overall economic resilience. Thus, investment and enhancing productivity are necessary to accelerate Meghalaya’s economic growth to equalise its per capita income with that of the country’s average by 2030.

The CM-ELEVATE is a State funded flagship program, aiming to make the youth partners of development by engaging and empowering them through entrepreneurship. This program is specifically designed to provide support to individual entrepreneurs, collectives, village organizations and traditional institutions to take up various businesses. To financially assist such initiatives and ensure easy access and affordable credit to the aspiring entities, Government of Meghalaya has partnered with various public and private sector banks. Adequate credit availability will encourage aspiring entrepreneurs to secure loans to start new ventures; to expand their existing businesses and invest in new technologies and increase capacity; and encourage growth of SMEs leading to higher employment generation and increased income of the local population. In this way, the program will increase the credit flow, thereby, significantly stimulating economic growth and development. 

However, the State Government also understands the various potential risks associated with credit flow such as financial instability, over indebtedness etc. To minimize such risks, Government of Meghalaya has decided to provide necessary financial assistance to the tune of 35% to 75% of the project cost in the form of capital subsidy and operational subsidy as EMI co-payment. Additional handholding support such as trainings, skill development programs and capacity building programs by various government departments to successfully implement individual projects will be provided. Under the program, the individual entrepreneurs, various registered and unregistered entities of the state will have a single window portal to select and apply for any business venture spanning across various sectors based on their specific needs.

Program Details

FAQs

It is a state funded flagship program, designed to provide support to individual entrepreneurs, companies, collectives, village organizations and traditional institutions to take up various businesses.

Planning, Investment Promotion & Sustainable Development Department is the nodal department for overall implementation of the program.

CM Elevate program covers various sectors, including agriculture, horticulture, veterinary and animal husbandry, tourism, entertainment, sports, wellness, and any business venture of economic interest for the people of the state. Please refer each scheme under the Programme for more detailed information.

  • Individuals from Meghalaya
  • Registered entities from Meghalaya such as societies, companies, corporations, organizations etc.
  • Non-registered entities from Meghalaya such as Self-Help Groups (SHGs), Village Organizations (VOs), Producer Groups (PGs) etc.

Individual entrepreneurs must be between 18 and 58 years of age.

One can apply “online” through CM’s Elevate Program Portal by selecting any scheme based on his/her need.

The deadline for submitting applications in the first phase is 31st October 2023.

The applications will be processed by the implementing agencies responsible for implementing the schemes.

No changes will be applicable after submission. It is advisable that the applicants read and answer each question carefully and all changes should be made before submitting the application.

Yes, you can choose any bank from the partnered banks for the scheme.

The repayment period is different from one scheme to another.

The subsidy from the government will be disbursed through the partnered banks.

Yes, the implanting agency will notify on the trainings to be provided to the entrepreneurs.

The training to be provided by the implementing agencies will be mandatory for the entrepreneurs.

The implanting agency will notify on the trainings locations from time to time.

No, the trainings will be provided free of cost for the entrepreneurs.

The implanting agency will notify on the training duration from time to time.

Applications shall not be ordinarily considered for the following

  • Government employees (currently employed / retired and drawing pension) and their dependents.
  • Pressure groups and organizations that are primarily political in nature.

No, only residents of Meghalaya are eligible to participate in the scheme.

The required documents as mentioned in the individual scheme guidelines are required to be submitted to eligibility.  However, in general the following documents are required.

  • Residency proof which includes Aadhar card, voter id, driving license, passport.
  • Land ownership/lease certificate such as sale deed, registration certificate etc wherever applicable
  • No objection certificate from the headman wherever applicable
  • Letter of certification from the Block Development Officer (BDO) as a proof of involvement with the sector related to the scheme
  • Pan card, if available
  • Income tax return copy, if available
  • Latest bank statement, if available
  • GST certificate and statement of return, wherever applicable
  • Any other document as specified by the implementing agency and the partner banks.

Aadhar linkage is mandatory to receive the benefits of annual rate of interest subvention up to 3%  for the following schemes under the Interest Subvention Scheme implemented by  Reserve Bank of India (RBI) and National Bank for Agriculture and Rural development (NABARD). However, entrepreneurs are requested to visit any of the partner banks for more information on the same.

No, you cannot apply for more than one scheme.

There is no application fee.

The prerequisites are scheme specific. Kindly go through the scheme guidelines specific to your area of interest to understand further.

If your application is rejected by the implementing agency, please write to understand the reasons of your rejection.

The financial assistances are in the tune of 35% to 75% and are different from one scheme to another. Please refer to the specific scheme guidelines to understand the support provided by the government.

Interest rates may vary depending on the bank you choose for credit support. You should inquire with the selected bank for specific interest rate details.

All selected entrepreneurs will be required to sign a tripartite contract with the respective implementing agencies and the financing partner providing loan.

Government has the right to terminate the contract and following which entrepreneurs are required to return the entire fund support received from the government with an additional annual interest charge and may also include legal action on the entrepreneurs for following reasons,

  • Any breach in utilization of funds,
  • If entrepreneur is found not to abide by the terms and conditions of the contract and found to be engaged in fraudulent /illegal/criminal activities.

Planning, Investment Promotion & Sustainable Development Department, Government of Meghalaya, 

Departments

EN