Support for growth
Recently LG Manoj Sinha launched ‘New Jammu & Kashmir Start-up Policy- 2024-27’.
This fund will provide crucial support for growth, early-stage financial handholding and it will encourage growth of viable business models.
He reiterated the commitment of the UT Administration to establish and empower new incubation centres, seed funding through JKEDI for developing prototypes 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, he called for collective action to build a dynamic economic environment in the UT where business can thrive, investment can prosper and entrepreneurs can actualise their aspirations.
He 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.
