Meghalaya Launches CM Elevate Program

September 22, 2023

Meghalaya’s Chief Minister, Conrad K. Sangma, inaugurated the groundbreaking CM Elevate program in Shillong, marking a significant step towards promoting entrepreneurship, boosting employment, and driving economic development within the state. The initiative, aimed at fostering innovation and self-reliance, seeks to create entrepreneurship opportunities for more than 20,000 individuals across diverse sectors over the next three years, with a substantial investment of approximately 300 crores.

Key Objectives

The CM Elevate program focuses on three key objectives:

Engagement: Encourage active involvement of the youth in entrepreneurship.
Employment: Create substantial job opportunities for the youth of Meghalaya.
Empowerment: Facilitate economic growth and development in the state.

Partnerships for Access to Credit

To empower aspiring entrepreneurs and mitigate credit risks, the government has forged strategic partnerships with both public and private sector banks. These collaborations will provide aspiring entrepreneurs with essential financial support, covering project costs ranging from 35% to 75%. Such financial backing is expected to drive the success of the program.

Job Creation Projections

The CM Elevate program anticipates generating approximately 700 direct employment opportunities and a multitude of indirect jobs for the youth of Meghalaya. These employment prospects aim to leverage the entrepreneurial spirit of the state’s youth, thereby bolstering economic stability and development.

Sectors Highlighted

The program spotlights various sectors and departments, with notable schemes in Tourism and Agriculture:

Tourism: Under the Tourism Department, initiatives such as the Green Villa Scheme, Homestay Scheme, Motorhome Meghalaya Scheme, and Prime Tourism Vehicle Scheme are set to provide substantial support to budding entrepreneurs in the tourism sector.
Agriculture: In the Agriculture Department, the CM Elevate program promotes the establishment of polyhouses by offering 50% financial aid. This initiative is designed to encourage the cultivation of high-value vegetables and floriculture crops.

User-Friendly Application Process

A noteworthy feature of the CM Elevate program is its commitment to a user-friendly application process. Entrepreneurs can take advantage of a single-window portal that streamlines the application procedure. This portal provides access to various schemes and support mechanisms, ensuring a seamless and efficient experience for aspiring business owners.

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