IIM-govt initiative aims to boost youth entrepreneurship

SHILLONG, Oct 17: The state government, in collaboration with IIM Shillong, officially launched the ‘CM Business Catalyst: Student B-Plan Challenge’, an innovative initiative aimed at fostering entrepreneurship and sustainable business practices among the youth of Meghalaya. The launch event held at Shillong was graced by Vice President Jagdeep Dhankhar, along with esteemed dignitaries including Governor CH Vijayashankar, Chief Minister Conrad K Sangma, and Cabinet Minister Dr Mazel Ampareen Lyngdoh.
The CM Business Catalyst programme is designed to empower college students to develop sustainable business models that address pressing environmental and social challenges. This initiative aligns with the state’s vision for sustainable development, leveraging IIM Shillong’s expertise in innovation, management, and entrepreneurial education
It aims to cultivate business acumen among the students of Meghalaya, equip them with essential skills to design and implement successful business ventures, and inspire a culture of innovation and sustainable entrepreneurship to tackle local and global challenges.
The challenge will unfold through a structured, multi-stage competition aimed at engaging students while fostering skill development. Participants will benefit from mentorship by IIM students and faculty, as well as knowledge transfer sessions led by industry experts and successful entrepreneurs from Meghalaya and across India.
Competition structure
In Round 1 and 2, college and regional rounds will take place focusing on essential skills for idea development, supported by templates, video guidance, and mentoring. In Round 3, also dubbed the ‘IIM Accelerator’, the top 20 teams will participate in a weeklong workshop at IIM Shillong, culminating in the selection of 12 finalists.
In the Final Round, which will be the State Finals, Final presentations will be made before state dignitaries, where the winners will be announced.
The CM Business Catalyst initiative serves as a feeder programme for existing entrepreneurial ventures in Meghalaya, complementing initiatives like CM Elevate and the Chief Minister’s E-Championship Challenge.
By nurturing entrepreneurial spirit at the college level, this programme aims to develop a robust talent pool prepared for future challenges. Through this initiative, IIM Shillong and the Meghalaya government aspire to ignite a movement of young innovators and entrepreneurs, fostering a long-term culture of sustainability and economic growth in the state.