Lieutenant Governor Shri Manoj Sinha launched the much-awaited ‘New Jammu & Kashmir Start-up Policy 2024–27′, at the Avinya Startup Summit. The Lt. Governor congratulated the young entrepreneurs and innovators on this 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 Lt Governor said.
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He stated that to build 2,000 companies in J&K by 2027, the Policy has been painstakingly crafted, demonstrating the UT Administration’s dedication to promoting a vibrant 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.
He noted that the new policy will facilitate DPIIT registration, offer financial support for mentorship to recognized entrepreneurs, assist with patent-related issues, and offer further need-based support to start-ups operating in a variety of industries.
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Speaking to the entrepreneurs and innovators present at the event, the lieutenant governor urged them to work together to create a vibrant economic environment in Utah that will enable businesses to flourish, attract investment, and help entrepreneurs realize their dreams.
Sh Atal Dulloo, Chief Secretary; Sh Vikramjit Singh, Commissioner Secretary, Industries & Commerce Department; Sh Ramesh Kumar, Divisional Commissioner Jammu; Sh Baldev Prakash, MD and CEO J&K Bank; Prof BS Sahay, Director IIM Jammu; Sh Arun Manhas, Director, Industries Jammu; Sh Ishan Verma, President JK Startups Association, officials of UT Administration, SIDBI, Startup India and young entrepreneurs were present.
