J&K Has Potential To Be Among Topmost States/UTs In Terms Of Creating Startups: LG

Srinagar- Asserting that his government is committed to support start-ups and help them grow, the Jammu and Kashmir Lieutenant Governor Manoj Sinha Friday assured aspiring entrepreneurs that all necessary assistance will be provided to make their business dreams a reality.

Addressing ‘Kashmir Expo- Start Up for Livelihood’ here on Friday, the LG said that there is a greater need to infuse technology and innovation in rural sector which will produce better quality of life and enhance the socio-economic development, an official spokesperson said.

Sinha emphasized that innovation is about people rather than ideas and underscored that in order to transform an idea into commercial product; we need to provide right environment and opportunity to innovators and start-ups entrepreneurs.

The LG also asserted that the Government is committed to support start-ups and help them grow. “We want to assure aspiring entrepreneurs that all necessary assistance will be provided to make their business dreams a reality,” he said.

“Incubation centres in J&K’s educational institutions are playing an important role in building and nurturing ideas for start-ups,” he added.

The LG said that under the guidance of Prime Minister Narendra Modi, the ecosystem of innovation, start-ups has been strengthened, and in just 8 years, India has established 75,000 start-ups with 50% of them established in Tier 2 & Tier 3 cities providing direct employment to 4 lakh youth.

“We are third in start-up ecosystems globally. In last 2 years, 107 unicorns worth more than $340 billion have been established in the country. Today one out of 10 new unicorns in the world, is being established in India,” he said.

Noting that youth has always been integral part of evolving technology, the LG observed that the potential ideas and new start-ups will contribute not only to economic growth and productive diversification, but also to sustainable and inclusive development.

“Technological progress is growing at an exponential rate and the adoption time for commercialized technologies has been considerably reduced. This is having a direct impact on the society and business ecosystem. Whether its businesses or educational institutions, they have to innovate and adopt new technologies to stay relevant in the future,” the LG said.

“In this Amrit Kaal Khand, it is the collective responsibility of all of us to fully support the enterprise and determination of our youth, our entrepreneurs in the making of a self-reliant Jammu and Kashmir,” he added.

The LG said that Jammu and Kashmir which at present is among the topmost Union Territories (UT) in start-ups has the potential of becoming among the topmost in states and Union Territories in the area because of its young talents.

The LG complimented the Department of Science and Technology for organizing the three-day “Kashmir Expo – Start up for Livelihood” and congratulated all stakeholders associated with this event.

He also appreciated two innovative products- Saffron Sowing Machine and Seed Sowing Machine from NIT Srinagar and stressed on the necessity of having excellent coordination between the industry, academia and society for the success of both the products.

Highlighting the immense potential for start-ups in rural sector, the LG said that in the last two-three years, many youths of Jammu Kashmir have implemented impressive ideas such as the apple grading machine, strawberry plucker etc. and successfully used them in agriculture, horticulture sectors.

He further said that 15 youths from each panchayat were provided support for becoming entrepreneurs and 20 youths were given skill development opportunities during the recently concluded Back-to-Village program this month.

Secretary, Department of Biotechnology Dr Rajesh S. Gokhale highlighted the significance of the Kashmir Expo in providing a platform for the youth to develop their ideas into start-ups.

Saurabh Bhagat, Commissioner/Secretary to Government, Science & Technology Department, informed that the Department is supporting more than 120 research projects across different Universities and Colleges of J&K.

“We are also providing scholarships and seed money for nurturing innovation”, he added.


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