PRIME is the flagship entrepreneurship promotion program launched by the Government of Meghalaya for providing systematic and targeted support to existing and aspiring entrepreneurs.
The key components of the PRIME program are identification and incubation of entrepreneurs, hand holding in making business plans, providing market connections, and enabling access to credit. While recognizing the importance of certain segments of the entrepreneurial community towards their contribution to provide employment and livelihood, and to make the program more inclusive, some special initiatives are taken to support the women entrepreneurs and grass-root level innovators under the PRIME program.
What is a women-led startup?
A women-led startup is a startup that is recognized by the Government of Meghalaya under the PRIME, having at least one woman as a founder, co-founder, and/or CXO.
How many seats are reserved for the women-led startups under the PRIME program?
20% of seats (10 out of 50) are reserved for the women-led startups under the PRIME programme.
How much funds are reserved for women-led startups?
20% of the funds are allocated to the PRIME Kickstart Grant and the PRIME Innovation Scaleup Loan of Rs. 25 lakhs is reserved for the women-led startups.
Who is a Grass-root level innovator?
A grass-root level innovator is startup that is recognized by the Government of Meghalaya, working towards any kind of low-cost and/or low-level innovative, commercial product and/or service that aims towards the improvement of productivity, infrastructure, living conditions, employment conditions, livelihood opportunities, community facilities, etc in a rural context.
How many seats are reserved for the Grass-root level innovators?
20% of seats (10 out of 50) reserved for such innovators under the PRIME Incubation programme. 10% of the funds allocated to the PRIME Kickstart Grant and the PRIME Innovation Scaleup Loan will be reserved for grass-root level innovators. Some additional support too will be given like capacity buildings, mentoring, office/co-working space, marketing support, and more.