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"Hon'ble Lt. Governor Sh. Manoj Sinha Addresses J&K Start-up Conclave 2023" Announces New Startup Policy 2023 with Seed fund for start-ups and one incubation center in each district of Jammu and Kashmir

"Hon'ble Lt. Governor Sh. Manoj Sinha Addresses J&K Start-up Conclave 2023"

Announces New Startup Policy 2023 with Seed fund for start-ups and one incubation center in each district of Jammu and Kashmir

"Hon'ble Lt. Governor Sh. Manoj Sinha Addresses J&K Start-up Conclave 2023"

Announces New Startup Policy 2023 with Seed fund for start-ups and one incubation center in each district of Jammu and Kashmir



Srinagar, September 16th2023 - Hon'ble Lt. Governor Sh. Manoj Sinha addressed J&K Start-up Conclave 2023 at SKICC Srinagar. The event was organised by Jammu Kashmir Trade Promotion organisation, Department of Industries & Commerce, Jammu and Kashmir in collaboration with Entrepreneurship Development Institute and Department of Handloom and Handicraft, Kashmir. The organizing partner for the said event were Fast Beetle and Launch Pad Jammu and Kashmir.

Day long sessions were held during the course of event wherein sessions were held by experts from various parts of the country on Scaling start-ups, Crafting narrative, Journey of startup, branding, etc   `

Speaking at the occasion Shri. Manoj Sinha highlighted how policy reforms is changing the landscape of Jammu Kashmir through growth in industrial investment, tourism, ease of doing business, innovation, technology advancement, favourable climateand other major incentives by the government.

Jammu & Kashmir has been ranked the “Top Performer” as per the “Start-Up India Ranking 2021”. J&K has undergone evaluations in seven Reform Areas that significantly contribute to advancing the startup ecosystem within the UT. Remarkably, J&K has demonstrated outstanding performance in the Reform Areas of 'Institutional Support,

Manoj Sinha said that the Government is dedicated to fostering an environment where start-ups can thrive, and today, I am thrilled to announce that our renewed Start-up Policy 2023 has been drafted and shall be notified by next month.The Jammu Kashmir government is planning to launch Start-Up policy 2023 to fosters young entrepreneurs by providing support for market access, Infrastructure development for working space, patent related assistance, mentorship assistance and many more. This Start-up Policy is not just another document; it is a roadmap for nurturing innovation, creating jobs, and driving economic growth. It is a testament to our commitment to support the bold and creative minds that dare to dream and build the businesses of tomorrow.

Mr Sinha said that through startup policy the Government shall provide Seed Funding: A one-time assistance up to 20 lakhs in 4 equal instalments to start-ups recognized by the Government of J&K.

Government shall also provide Capital grant on setting up/scaling up incubator and accelerator infrastructure in J&K with assistance upto INR 50 Lakh/ incubator. There shall be at least 1 incubator in every district.Apart from the above, Loan Guarantee Program, Patent related assistance, market access and assistance for mentorship shall also be provided

There shall be a comprehensive Start-up Assistance Program wherein it will encompass a wide array of opportunities and resources aimed at empowering our budding entrepreneurs through:

•Mentorship programs by connecting our start-ups with seasoned experts who will provide insights, advice, and guidance to navigate the challenges of entrepreneurship.

•Actively collaborating with angel investor networks and financial institutions to ensure that our entrepreneurs have the financial support they need to turn their ideas into reality.

•Collaboration with premier institute like IIMs and IITs which will enable us to offer world-class entrepreneurship programs, ensuring that our start-up founders receive top-notch education and mentorship.

Last year 1.88 Crore tourists visited J&K  out of which 20,000 were international tourists, providing excellent platform for hospitality, wellness, and leisure enterprise development. There is 59% growth in international tourist after the successful conclusion of G20 summit in Jammu Kashmir.The discovery of 5.9 million tonnes Lithium reserve found in Reasi District of J&K has open new frontier for growth and innovation in Electric Vehicle, Automobile, and Aerospace technology enterprises.

The Hon’ble Lieutenant Governor Sh. Manoj Sinha was the chief guest on the occasion, Sh. Vikramjit Singh, Commissioner Secretary I&C, Sh. Vijay Kumar Bidhuri, Divisional Commissioner, Kashmir, Sh. Mr. Aijaz Ahmad Bhat, Director, JKEDI, Sh. Khalid Jahangir, Managing Director, JKTPO, Sh. Mahmood Ahmad Shah, Director, Handloom & Handicraft, Kashmir, Sh. Mr. Mohammad Aijaz, Deputy Commissioner Srinagar along with Start-Up leaders, industry stalwarts from India & Middle east along with other participants were present at the event. During the event an audio visual was showcased highlighting the start-up eco-system in Jammu Kashmir, followed by unveiling of ‘start-up journal’ by the Hon’ble LT. Gov Sh. Manoj Sinha.

The Start-Up conclave was day-long event comprising of sessions by subject experts and thought leaders on Crafting Narratives - Every Brand is a story (The art of story building): Ankur Warikoo, Yashraj Akashi, Khalid Wani, Rahul Navrekar, Ishfaq Mir; A deep dive – The Journey of Start-Ups: Sandeep Kaul, OneilKhosa, Vivek Raina, Rajat Tuli, Kunal Harisinghani; All About Fundraising (Angel, Impact, Incubation, PE): Anuj Sharma, Saurabh Mittal, Namrata Kaul; Scaling Startups - The art of growth: Manoj Agarwal, S. Majumdar, Abhijeet Ray, Pragya Mishra, Rohin Mittal; Setting the Tone (Kashmir Landscape, Opportunities & Challenges): Muheet, Sami, Yousuf, Abid Rashid ,Ubair Shah, Rubina Tabassum, Sheikh Samiullah, Yousuf Shakeel, Fawzal Kabeer, Arush Mahajan.

Earlier, Sh. Vikramjit Singh, Commissioner Secretary I&C during the welcome address appraised the audience about Government’s visions to foster entrepreneurship in the UT of J&K through innovation, funding opportunities and export promotion by nurturing entrepreneurs from Jammu Kashmir to make their mark globally.

He said that The J&K Startup Enclave, 2023, is designed to engage a diverse audience, including investors, entrepreneurs, government officials, and a mix of stakeholders. This inclusivity is essential to create a holistic ecosystem that fosters innovation, investment, and collaboration.

Sh. Ishfaq Mir, Co-founder, Kashmir Box during the closing remarks expressed his gratitude towards Hon’ble Lt. Gov Sh. Manoj Sinha ,prominent speakersand other participant for gracing the event with their presence. He also appreciated the efforts by the government of Jammu Kashmir to nurture entrepreneurs in the Union territory.