Meghalaya Govt Inks MoU With IIM Shillong To Foster Collaboration For Societal Impact
First Published: 18th July, 2024 15:09 IST
The MoU encompasses various initiatives, including the Chief Minister’s E-Challenge Business Plan competition
The Meghalaya government inked a Memorandum of Understanding with the Indian Institute of Management, Shillong, to foster collaboration for societal impact.
Chief Minister Conrad K Sangma described the signing as a historic moment, particularly poignant as it coincided with the death anniversary of U Tirot Sing, a revered freedom fighter.
He emphasized the MoU’s significance in advancing the government’s agenda, marking the beginning of a promising partnership with IIM Shillong.
The MoU encompasses various initiatives, including the Chief Minister’s E-Challenge Business Plan competition, which sees participation from over 2000 individuals annually.
Out of these, approximately 100 finalists receive support in the form of seed funding of ₹10 lakh per idea and an interest-free loan of ₹50 lakh. The Chief Minister highlighted the necessity of fostering an entrepreneurial ecosystem within educational institutions across the state and the nation, with IIM Shillong serving as a pivotal hub for such endeavours.
Regarding Meghalaya’s economic vision, Chief Minister Sangma articulated a commitment to transitioning towards a knowledge-based economy. He stressed the crucial role of innovation, emphasizing that government support for innovation is pivotal.
He envisioned a cycle in which government funding nurtures innovation, which in turn translates into viable business plans. Thus, tax revenues contribute to economic growth, which are then reinvested into fostering further innovation.
Furthermore, Chief Minister Sangma underscored the importance of training and capacity building for state employees and members of the Autonomous District Councils (ADCs). He highlighted the significance of these councils in the state’s governance structure, particularly in matters concerning land ownership and cultural heritage.
The signing ceremony took place in the presence of Chief Minister Conrad K Sangma, Chairman of the Board of Governors of IIM Shillong Shishir Kumar Bajoria, Director of IIM Shillong D.P. Goyal, and Cyril D Diengdoh, Secretary Planning, Government of Meghalaya.
Also Read: At 21.7%, Meghalaya’s Dropout Rate in Class 9-10 highest in Northeast
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