Itanagar, Jan 23 (PTI) Arunachal Chief Minister Pema Khandu on Friday said India’s startup ecosystem has witnessed transformational growth over the last decade, with the state emerging as a strong and competitive contributor from the Northeast.

Announcing major support measures, he said the state government has doubled seed funding under the Arunachal Pradesh Innovation and Investment Park (APIIP) and will also double the intake capacity for its upcoming Cohort 5.0, an official statement said.

Speaking at the inaugural ceremony of Startup Arunachal Day, held as part of innovation month marking 10 years of Startup India, the chief minister said the initiative launched by Prime Minister Narendra Modi in 2016 has expanded the country's startup ecosystem to over two lakh startups, generating nearly 20 lakh direct jobs, with strong participation from Tier-II and Tier-III cities and women entrepreneurs.

Referring to the state's journey, Khandu said APIIP was launched in 2020 during the COVID-19 pandemic and the crisis was turned into an opportunity through collective efforts led by Deputy Chief Minister Chowna Mein, the planning department and the APIIP team.

He said the initiative has completed five years and produced several successful entrepreneurial stories from the state.

Citing examples, Khandu said many startups overcame challenges related to finance and market access and scaled up with institutional support, reflecting the potential of the state's youth when provided proper handholding and the right platform.

He observed that youths from the state have excelled over the past decade in sports, music and entrepreneurship.

To further strengthen the ecosystem, Khandu said the government has advised the planning department to identify a larger space for APIIP and informed that the post of director (Investment) has already been created.

He announced that APIIP would be converted into a Section 8 company under the Companies Act to enable access to venture capital, CSR funds, angel investments and national and international financial institutions.

Touching upon broader economic issues, Khandu said manufacturing remains a national concern and informed that the Centre is considering forming a high-level committee to strengthen the manufacturing ecosystem under the Make in India initiative.

He said northeastern states must collectively identify areas of contribution, citing semiconductor manufacturing in Assam and ancillary opportunities for neighbouring states.

Highlighting the state’s hydropower potential, Khandu said Arunachal Pradesh is emerging as a major power hub, with around 18,000 MW of hydropower projects under various stages of development, including a major project nearing completion this year.

He urged startups to explore ancillary industries linked to large investments to improve cost efficiency and project viability.

The chief minister congratulated the APIIP team for the state being recognised as a best-performing state at a national startup event held at Bharat Mandapam, chaired by the PM, and said the achievement shows the state’s ability to compete with larger states. PTI UPL UPL MNB