Crescent Kashmir

Start-up Policy

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In order to provide self employment opportunities to the youth of Jammu and Kashmir, Administrative Council approved Start-up Policy 2024-27 for them.

The Government of Jammu & Kashmir will setup a Venture Capital Fund of Rs. 250 Crores and will infuse maximum of Rs. 25 Crores as an initial fund to this venture capital fund.

The venture capital fund so created shall invest primarily in recognized start-ups of Jammu & Kashmir. The Department shall work out detailed modalities for creation of venture fund and its usage in consultation with Finance Department.

The department may also work out a mechanism to facilitate  allotment of  land to start-ups having good potential for growth. There is also a provision of one-time assistance as  Seed Funding up to Rs.20 lakhs ( 4 equal instalments)  to  be provided to start-ups recognized by JKEDI  which is nodal agency for  start –ups. For seed funding  there is capping of  25 start-ups per year  which is a  decision based upon available budget  and  desire to  support  a manageable  number of start-ups effectively.

The Government is committed to establish  2000 start-ups in three years  but  by providing  seed funding  to  a smaller   number of  carefully  selected  start-ups,  the Government can prioritize  quantity over quality for long term economic growth. This will also ensure that  the resources are utilized efficiently. The budgetary support for implementation of Start-up Policy for a period of three years will be Rs.  39.60 Crores.

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