Startup growing much in J&K
The term startup refers to a company in the first stages of operations. Startups are founded by one or more entrepreneurs who want to develop a product or service for which they believe there is demand.
Startup atmosphere is growing much vibrantly in Jammu and Kashmir .
As a matter of fact, Startup India was a campaign that was first addressed by the PM Narendra Modi on 15th August 2015 at Red Fort, New Delhi. This campaign was introduced under the Government of India as an initiative to develop over 75 startup support hubs in the country.
Jammu and Kashmir administration has greenlit a comprehensive startup policy aimed at nurturing 2,000 startups within the union territory by 2027. The decision was made during a key administrative council meeting chaired by Lieutenant General Manoj Sinha.
Key highlights of the policy include the establishment of a Venture Capital (VC) fund with an initial infusion of Rs 25 crore and a total outlay of Rs 250 crore. This fund is intended to provide crucial financial support to startups. Additionally, startups recognized by the J&K Entrepreneurship Development Institute (JKEDI) will receive one-time seed funding assistance of up to Rs 20 Lakhs disbursed in four equal instalments.
The newly approved policy focuses on providing entrepreneurship support facilities to students, women, and entrepreneurs. Support will be extended through government, private entities, and high-net-worth individuals (HNIs) to facilitate the setup of startups.
Breaking new ground in Jammu and Kashmir’s entrepreneurial landscape, the Kashmir Angel Network (KAN) has announced the successful facilitation of seed funding for Wildfloc Adventures through a partnership with IIT Ropar. This undisclosed investment, a result of collaboration with the Wadhwani Foundation, signifies a significant leap forward not only for Wildfloc Adventures but also for the burgeoning startup ecosystem in the