Elevate2 - PRIME

Nodal Department

Planning Investment Promotion and Sustainable Development department

Implementing Agencies

Department of Agriculture and Farmer’s Welfare

Animal Husbandry & Veterinary Department

Tourism Department

Meghalaya Basin Management Agency

Banking Partners

CM-ELEVATE

The CM-ELEVATE Program is designed to build Entrepreneurship, Leadership, Employment, Value Addition, Training and Empowerment across the state. The Govt. of Meghalaya aims to support new ventures that add to the economic, social and developmental landscape of the state.

“I am very confident that our strategy will find resonance and support from the citizens of Meghalaya. To support the strategy’s implementation, we will follow a collaborative approach between the state government and its different departments along with private sector organizations.”

Conrad Sangma, Chief Minister of Meghalaya

Objective of the Program

Economic growth of the state

The program is envisaged 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 to the tune of 35 to 75% of the project cost shall be provided to selected applicants.

A complete handholding support in various forms of assistance and capacity building programs will be provided by the government so as to ensure effective access and utilization to the resources provided by the government

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 Program 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 at a Glance

Sports & Wellness

Selected applicants will get financial aid and handholding support to establish Wellness Centres which include construction, maintenance and running of Swimming Pools.

Agriculture

- Polyhouse Scheme
- Agriculture Warehouse Scheme
- Common Facility Center Scheme

Tourism

- Motorhome Meghalaya, Caravan scheme
- PRIME Tourism Vehicle Scheme
- Tourist Villa Scheme

Animal Husbandary

- Rural Backyard Piggery Scheme
- Megha Milk Mission
- Rural Backyard Goatery Scheme
- Rural Backyard Poultry Scheme

Entertainment

Selected applicants will get financial aid and handholding support to establish Cinema Theatres in every district of the state.

Open Ventures

Selected applicants will get financial aid and handholding support to establish any business venture such as Libraries, Education Centres, and Drama Training centres, Centre of Performing Arts, Music Studios for recording and production.

Program Details

Snapshot of the CM - ELEVATE Program

Various Schemes

General eligibility criteria

Snapshot of the CM - ELEVATE Program

Various Schemes

#	Scheme Name	Implementing Department/ Agency	Primary offerings of the schemes	Total Financial Aid on Project Cost	Program Details
1.	PRIME Tourism Vehicle Scheme	Tourism Department	1. Financial aid to buy any passenger vehicle/2-cabin pickup truck from range of options mentioned in the scheme guidelines as per the need. 2. Training to the drivers and owners to enhance interpersonal, communication, basic lifesaving, emergency situation handling skills etc.	50%	Click to view details
2.	Agro Tourist Villa Scheme	Tourism Department	1. Financial aid to build luxury tourist villas across the state. 2. Additional handholding support to understand management and operation of the tourist villas.	35%	Click to view details
3.	Motorhome Meghalaya (Caravan scheme)	Tourism Department	1. Financial aid and support to buy a motorcaravan as per the guidelines provided in the scheme from any certified caravan manufacturer from the country. 2. Additional support in identification of caravan parking areas.	50%	Click to view details
4.	PRIME Agriculture Response Vehicle Scheme (PRIME ARVS)	Department of Agriculture and Farmers’ Welfare	1. Financial aid and support to buy any goods carrier for agriculture logistics from various options mentioned in the scheme guidelines. 2. Support through 1917iTeams in getting additional transportation businesses.	50%	Click to view details
5.	Polyhouse Scheme	Department of Agriculture and Farmers’ Welfare	1. Financial aid and handholding support to establish a polyhouse (hi-tech or naturally ventilated) in Meghalaya. 2. Access to training programs by the department.	50%	Click to view details
6.	Warehouse Scheme	Meghalaya Basin Management Agency, MBMA	1. Financial aid and handholding support to establish a warehouse to store agriculture and related products in Meghalaya as per the guidelines mentioned in the scheme.	75%	Click to view details
7.	Common Facility Center Scheme	Meghalaya Basin Management Agency, MBMA	1. Financial aid and handholding support to establish a common facility center, a standard, weather-proof infrastructure providing commonly needed facilities at one place, leading to reduction in operational costs and investment for the rural communities and enterprises in the village in Meghalaya, as per the guidelines mentioned in the scheme.	75%	Click to view details
8.	Backyard Piggery Scheme	Animal Husbandry & Veterinary Department	1. Financial aid and handholding support for shed construction, equipment, animals etc. to establish a pig farm. 2. Training to the entrepreneurs in maintaining the farm and animals.	50%	Click to view details
9.	Dairy Development Scheme	Animal Husbandry & Veterinary Department	1. Financial aid and handholding support for shed construction, equipment, cattle, feed etc. to establish a cattle farm. 2. Training to the entrepreneurs in maintaining the farm and cattle.	50%	Click to view details
10.	Backyard Goatery Scheme	Animal Husbandry & Veterinary Department	1. Financial aid and handholding support for inputs, sheds, and equipment etc. to establish a goat farm. 2. Training to the entrepreneurs in maintaining the farm and goats	50%	Click to view details
11.	Backyard Poultry Scheme	Animal Husbandry & Veterinary Department	1. Financial aid and handholding support for inputs, sheds, and equipment etc. to establish a poultry farm. 2. Training to the entrepreneurs in maintaining the farm and birds.	50%	Click to view details
12.	Cinema Theatre Scheme	Meghalaya Basin Management Agency	1. Financial aid and handholding support to establish Cinema Theatres with value additions such as food court, gaming zones etc. aimed at providing entertainment and promoting cultural enrichment for the people of the state. 2. Training to the entrepreneurs in operation and maintenance of the establishment.	35% or maximum of 1 crore to 200-seater & 35% or maximum of 50 lakhs to 100- seater	Click to view details
13.	Wellness Center Scheme	Meghalaya Basin Management Agency	1. Financial aid and handholding support to establish Wellness Centres which include construction, maintenance and running of Swimming Pools with value additions like indoor games, spas, and gyms in every district of the state. 2. Training to the entrepreneurs in operation and maintenance of the establishment.	35% or maximum of 1 crore to the top 5 & 35% to remaining entrepreneurs.	Click to view details
14.	Any Business Venture scheme	Meghalaya Basin Management Agency	1. Financial aid and handholding support to establish any business venture such as restaurants; food trucks; theatre and drama training centres; centre of performing arts; music studios for recording and production; music & dance school comprising of Indian, Western Classical forms; warehouse for packaging, branding and storage; local handicraft and handloom units; and any other unit not listed above may also apply. 2. Training to the entrepreneurs in operation and maintenance of the establishment.	35% or 50 Lakhs whichever is lower	Click to view details

General eligibility criteria

Financing Plan

Financing Partners

Quantum and Nature of Assistance

Summary of the financing plan

Financial Aid Disbursement

Financing Partners

Quantum and Nature of Assistance

The table below provides the information on scheme wise support being provided by the government to the beneficiaries.

Additional handholding support:

Guidance in application process through implementing agencies
Support in project realization of the business venture under this program
Training and capacity building of the beneficiaries to successfully run their business ventures under this program

#	Scheme Name	Financing Partners	Loan term (years)	Moratorium period (Months)	Annual rate of interest (%)	Margin Money support (%)	EMI support (%)
1.	PRIME Tourism Vehicle Scheme					90% of the margin money	18% of the total EMI
2.	Tourist Villa Scheme					25% of the Project Cost	10% of the Project Cost
3.	Motorhome Meghalaya, Caravan scheme					35% of the Project Cost	0%
4.	PRIME Agriculture Response Vehicle Scheme					90% of the margin money	18% of the total EMI
5.	Polyhouse Scheme					45% of the Project Cost	5% of the Project Cost
6.	Warehouse Scheme					45% of the Project Cost	5% of the Project Cost
7.	Common Facility Center Scheme					45% of the Project Cost	30% of the Project Cost
8.	Rural Backyard Piggery Scheme					45% of the Project Cost	5% of the Project Cost
9.	Megha Milk Mission					45% of the Project Cost	5% of the Project Cost
10.	Rural Backyard Goatery Scheme					45% of the Project Cost	5% of the Project Cost
11.	Rural Backyard Poultry Scheme					45% of the Project Cost	5% of the Project Cost
12.	Cinema Theatre Scheme					35% of the Project Cost	0%
13.	Wellness center Scheme					35% of the Project Cost	0%
14.	Any business venture scheme “Business Venture Launchpad Initiative Scheme/ Business Venture Catalyst Scheme”					35% of the Project Cost	0%
15.	Solar Mission / Meghalaya Solar Power Subsidy Scheme					45% – 65% of the Project Cost	0%

Table 3 Financing Plan

Summary of the financing plan

Financial Aid Disbursement

Implementation Mechanism of the Scheme

Application procedure

Beneficiary Evaluation mechanism

Shortlisting of applications

Evaluation of the shortlisted applications

Personal interviews

Final list of beneficiaries