Incubation
The Chief Minister’s E-Champion Challenge programme is a recurring annual event that gives a platform to all budding local talent while creating a healthy entrepreneurial ecosystem in the state.
Through this state-wide program, the most promising entrepreneurs are selected through a rigorous process of pitching in front of industry experts, successful entrepreneurs and government officials.
Out of a pool of 100 entrepreneurs, a group of 50 most promising entrepreneurs are selected to join the dedicated and structured 9-month intensive PRIME Startup Incubation Program. The TOP50 being part of the cohort enjoy the following benefits.
benefits to The TOP50 entrepreneurs
Financial Support
An instant cash prize of up to Rs. 1 lakh is awarded to each entrepreneur selected for the cohort of 50. The entrepreneurs can use this seed-money to do smaller investments in their business and kickstart operations.
Dedicated Mentoring
Regular one-on-one mentoring sessions with seasoned industry experts and professionals, handholding and guiding the entrepreneurs in their entrepreneurial journey. This helps them to avoid the most common mistakes and lets them reflect on their actions.
Capacity Building
Regular bootcamps, training and workshops related to entrepreneurial and personal development help the entrepreneurs to acquire all skills necessary to build a sustainable and growth-oriented business.
Access to Funding
Preferential access to the various funding opportunities available under PRIME is given to the TOP50 entrepreneurs. For further capital requirements, access to a large range of banks, foundations, impact and venture capital funds is facilitated.
Access to Markets
Via its vast network of corporates and retailers, the PRIME program is able to offer preferential access to various markets in the state as well as outside Meghalaya to the incubated entrepreneurs that will help them increase their growth trajectory.
Free Co-working Space
Office space is one of the major fixed costs for entrepreneurs in their early stages. PRIME offers free coworking seats in a vibrant environment among like-minded people at the PRIME Startup Hubs in Shillong and Tura to the most promising entrepreneurs
Free Marketing & Legal Services
PRIME incubation offers a variety of free services to its incubated entrepreneurs ranging from free logo and website making to legal advice regarding the establishment of a company or accounting and bookkeeping.
Visibility & Networking
Being part of a PRIME cohort offers the selected entrepreneurs strong visibility in local and national print and tv, radio channels as well as the various Social Media channels. To that the entrepreneurs can claim affiliation to reputed organisations like the Meghalaya Institute of Entrepreneurship (MIE) and IIM Calcutta Innovation Park (IIMCIP) in their communication with clients.
This program has the target to enable existing entrepreneurs to get their businesses to the next level and idea stage entrepreneurs to execute their business concepts at an accelerated pace. Selection of a new cohort of entrepreneurs is conducted once a year and will be widely announced on Social Media and newspapers. The participation is free of cost. The PRIME Startup Hubs are managed in collaboration with IIM Calcutta Innovation Park (IIMCIP) as the knowledge partners.
