Today: 4 August 2025
4 March 2024
3 mins read

J’&K Aimed to be Leading Startup Ecosystem by 2027′

He said the Policy has been meticulously drafted to establish 2,000 startups in J&K by 2027, underscoring the commitment of the UT Administration to foster a dynamic entrepreneurial ecosystem…reports Asian Lite News

Lieutenant Governor Manoj Sinha today launched the much-awaited ‘New Jammu & Kashmir Start-up Policy- 2024-27’, at the Avinya Startup Summit.

The Lieutenant Governor congratulated the young entrepreneurs and innovators on the historic occasion.

“New Start-up Policy aims to establish J&K as one of the leading start-up ecosystems by 2027. It is a giant leap for startups and innovators of Jammu Kashmir,” the Lieutenant Governor said.

He said the Policy has been meticulously drafted to establish 2,000 startups in J&K by 2027, underscoring the commitment of the UT Administration to foster a dynamic entrepreneurial ecosystem.

Highlighting the key features of the new J&K Start-Up Policy, the Lt Governor said the policy aims to set up a Rs. 250 Crore Venture Capital Fund, with an initial infusion of Rs. 25 Crores from J&K Administration.

This fund will provide crucial support for growth, early-stage financial handholding and it will encourage growth of viable business models, he added.

The Lieutenant Governor reiterated the commitment of the UT Administration to establish and empower new incubation centres, seed funding through JKEDI for developing prototype of innovative products and provide additional support to female entrepreneurs, through the new startup policy.

New policy will provide patent-related assistance, financial assistance for mentorship to recognised startups, facilitation for DPIIT registration and additional need-based support to start-ups working in diverse fields, he observed.

Addressing the entrepreneurs and innovators on the occasion, the Lt Governor called for collective action to build dynamic economic environment in the UT where business can thrive, investment can prosper and entrepreneurs can actualise their aspirations.

He also talked about the challenges and growth opportunities in different sectors in Jammu Kashmir.

J&K UT has 722 registered startups, with a notable focus on gender inclusivity, boasting 254 women-led startups. The Jammu & Kashmir startup ecosystem exhibits a diverse landscape, with Construction & Engineering emerges as a key player, constituting 49% of the total startups, followed by Skill Development (12%), Oil & Gas Transportation (12%), IT Consulting (8%), Business Support Services (7%), Food Processing (6%), and Agri-Tech (5%). This showcases the entrepreneurial diversity and the presence of startups across various industries.

The Lieutenant Governor said the policy reflects a comprehensive survey on government support, incubator collaboration, and policy requirements. Notably, 69% of startups seek support for Marketing & Branding, while the collaboration with incubators is at 7.89%, presenting an opportunity for increased engagement.

Jammu & Kashmir is home to 12 incubators, playing a vital role in nurturing and guiding startups during their early stages, the Lieutenant Governor said.

He said the ecosystem benefits from collaborations, with 16 partnerships and Memoranda of Understanding (MoUs) established with various institutions and organizations to provide additional support and resources.

I invite the potential investors from across the country to explore the unlimited possibilities present in the Union Territory and contribute to the growth journey of Jammu Kashmir, he said.

He further impressed upon the Financial and Academic Institutions to play their vital role in effective on-ground implementation of the new startup policy.

Atal Dulloo, Chief Secretary; Vikramjit Singh, Commissioner Secretary, Industries & Commerce Department; Ramesh Kumar, Divisional Commissioner Jammu; Baldev Prakash, MD and CEO J&K Bank; Prof BS Sahay, Director IIM Jammu; Arun Manhas, Director, Industries Jammu; Ishan Verma, President JK Startups Association, officials of UT Administration, SIDBI, Startup India and young entrepreneurs were present.

CEOs and representatives of various companies and Startup ventures like Via ENS, Branding Elves, Fast Beetle, Fix and Ease, Pure Mart, MGM, Tramboo Sports were also present.

ALSO READ-J&K L-G Manoj Sinha warns of tough actions against supporters of terrorism

Previous Story

OPEC+ Agrees on Extension for Oil Output Cuts

Next Story

India Tightens Grip on Tech

Latest from -Top News

US Mulls Terror Tag for Muslim Brotherhood

The US’ plan to designate the Muslim Brotherhood as a terrorist group comes after a bipartisan bill was introduced by Republican Congressman…reports Asian Lite News The US is once again edging closer

Hamas Sets Terms For Disarmament

HAMAS: ‘The resistance and its weapons will not be abandoned until our full national rights are restored, foremost among which is the establishment of an independent, fully sovereign Palestinian state’ Hamas affirmed

Statehood For Palestine

Analysts see the general move as a deliberate push to revive a stagnant peace process long controlled by Israel, Hamas and the United States, all of whom, they say, have shown little

IBPC Dubai charts new growth path

Former Tata Motors CEO Ravi Kant headlines exclusive event as Indian business council sets course for transformation….reports Asian Lite News The Indian Business & Professional Council (IBPC) Dubai has signalled a significant

Miles in the Malls!

Dubai Mallathon kicks off today – The emirate’s biggest malls transform into indoor fitness arenas, inviting residents to walk, run, and win — all while staying cool, healthy, and community-connected….reports Asian Lite
Go toTop