Lieutenant Governor Manoj Sinha on Sunday launched ‘New Jammu & Kashmir Start-up Policy- 2024-27’ and he calls it a “Giant leap for startups & innovators!
Lt Governor said that new policy has been meticulously drafted to establish 2,000 startups in UT by 2027, underscoring our commitment to foster a dynamic entrepreneurial ecosystem.
“New start-up 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 & it will encourage growth of viable business models”, he said.
Sinha said that new start-up policy aims to establish J&K as one of the leading start-up ecosystems by 2027.
” It will establish & empower new incubation centres, seed funding through JKEDI for developing prototype of innovative product & provide additional support to female entrepreneurs”, he said.
Adding to it, LG Sinha said, “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 also addressed entrepreneurs and innovators on the occasion. Sinha 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.
