Jammu and Kashmir Lieutenant Governor Manoj Sinha unveiled the 'New Jammu and Kashmir Startup Policy- 2024-27' at the Avinya Startup Summit on Sunday, aiming to establish 2,000 startups in the Union Territory by 2027.
The policy is designed to foster a dynamic entrepreneurial ecosystem in the region, with a focus on providing support and incentives to startups working in diverse fields, such as agriculture, tourism, handicrafts, healthcare, education, and IT.
The policy also envisages setting up a Rs 250 crore Venture Capital Fund, with an initial infusion of Rs 25 crore from the UT administration, to provide crucial support for growth and early-stage financial handholding to startups.
Additionally, the policy will provide patent-related assistance, financial assistance for mentorship, facilitation for DPIIT registration, and additional need-based support to startups. The policy will also encourage entrepreneurship among students and women, and support them through the J&K Entrepreneurship Development Institute (JKEDI).
Sinha invited potential investors from across the country to explore the unlimited possibilities present in the UT and contribute to its growth journey. He also highlighted the challenges and opportunities in various sectors in Jammu and Kashmir, and called for collective action to build a dynamic economic environment where business can thrive, investment can prosper, and entrepreneurs can actualise their aspirations.
The UT currently has 722 registered startups, with 254 of them being led by women. The new policy is expected to boost the number and quality of startups in the region, and create employment and wealth for the people.
Source: Conversation with Bing, 3/4/2024
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(2) Start-up policy with focus to set up 2000 start-ups by 2027 launched in J-K. https://www.business-standard.com/india-news/start-up-policy-with-focus-to-set-up-2000-start-ups-by-2027-launched-in-j-k-124030300242_1.html.
(3) New startup policy with focus on setting up 2,000 startups by 2027 launched in Jammu & Kashmir. https://yourstory.com/2024/03/new-startup-policy-with-focus-to-set-up-2000-startups-by-2027-launched-in-j-k.
(4) New startup policy with focus to set up 2,000 startups by 2027 launched .... https://economictimes.indiatimes.com/tech/startups/new-startup-policy-with-focus-to-set-up-2000-startups-by-2027-launched-in-j-k/articleshow/108182345.cms.
(5) New startup policy with focus to set up 2000 startups by 2027 launched .... https://government.economictimes.indiatimes.com/news/policy/new-startup-policy-with-focus-to-set-up-2000-startups-by-2027-launched-in-j-k/108195596.
(6) LG Sinha Launches New JK Start-up Policy, Aims for 2,000 Ventures by 2027. https://kashmirlife.net/lg-sinha-launches-new-jk-start-up-policy-aims-for-2000-ventures-by-2027-346717/.
