What are the different classification of entrepreneurs when registering for a PRIME ID?

Eligible Entrepreneurs in Meghalaya are classified as one of three different types during the registration for a PRIME ID. This classification is done based on the details the entrepreneurs provide during registration. Hence, it is of utmost importance that the applicants provide an elaborate description and pictures of their products/services.

The three types are: Startup Entrepreneur, Nano Entrepreneur and Livelihood Entrepreneur. This article will elaborate on the differences between the different types.

Startup Entrepreneurs are building a business that is innovation-based and that works on unique, value-added and/or improved products or services. Startup Entrepreneurs have the potential to create wealth and job opportunities for the people of the state. Technology adoption and enablement may also play a vital role for those kinds of enterprises. The area of market coverage extends across the state and beyond. These enterprises typically have the potential to grow to more than 20 employees. Due to the innovative character of the business, the entrepreneur has the opportunity to strongly grow and scale the business.

The following are some example products and services (but not limited to those) that would classify as a Startup enterprise:

  • EduTech platform tailored for the requirements of the schools and colleges of Meghalaya.
  • Innovative meat replacement product from Jackfruit.
  • New machine for dehydration of fruits and spices, considering the unique weather-conditions in Meghalaya.
  • Innovative new products like flavor-infused cashew milk from locally grown produce.
  • High-value premium packaging leveraging locally grown produce like bamboo or other recyclable materials.
  • Innovative, high-value, artisanal, hygiene products like soaps and detergents leveraging locally grown herbs, spices or other ingredients like essential oils.
  • Educational courses in local dialects (Khasi, Garo) related to e.g. electronics or microprocessor programming.
  • Unique tourism concepts that have not been there previously in the state.
  • Health products created from locally grown medicinal and aromatic plants (e.g. Citrus Macroptera or Orchids).
  • Unique jewellery, accessories and/or clothing that fuses modern contemporary with traditional tribal designs from Meghalaya.
  • New technologies and enhanced marketing strategies for an e-Commerce store that sells locally made products and gives small entrepreneurs a platform to reach out to other parts of India and to a global audience.
  • Recycling unit for plastics or a biodegradable plastics manufacturing unit.

 

Nano Entrepreneurs run non-innovation based businesses that typically utilize local resources to solve local problems and serve the local demand. These businesses are imitation based and have the ability to employ up to 20 people. The market coverage is usually the local village, block or district.

The following are some example products and services (but not limited to those) that would classify as a Nano enterprises:

  • Adventure Sports (e.g. Kayaking, Angling, Snorkeling, Tour Operators)
  • Hospitality/Tourism (e.g. Homestays, Resorts, Guest Houses, Restaurants)
  • Food Processing (e.g. Bakeries, Chips Making, Wine Making, Ginger Powder Making, Honey Processing)
  • Manufacturing (e.g. Clothes Fabrication, Bamboo Basket Production, Broom Making)
  • Workshops (e.g. Car & Motorcycle Repair, Steel Fabrication)

Livelihood Entrepreneurs are individual/solo entrepreneurs that operate at local level and serve the nearby localities with their basic products and services to cover their own family livelihood needs.

The following are some example activities of individuals that would classify as a Livelihood entrepreneurs:

  • Farming
  • Weaving
  • Livestock Rearing
Updated on August 17, 2021