Jammu, Feb 26:The
first Start-up Task Force meeting was held under the chairmanship ofCommissioner
SecretaryIndustries andCommerce, M.K. Dwivedi, here Wednesday.
The Task Force sanctioned funding of
Rs 1.20 crore for the product research, development and marketing to 12
selected Startups under J&K Startup Policy.
The Policy was launched in 2018 and
Jammu and Kashmir Entrepreneurship Development Institute (JKEDI) was designated
as the nodal agency for the implementation of the Policy in Jammu and Kashmir.
The aim is to nurture and inspire the
young and entrepreneurial brains of Jammu and Kashmir to pursue innovation and
entrepreneurship by creating a vibrant and conducive startup ecosystem in
During the meeting, the Commissioner
Secretary appreciated the efforts of JKEDI and said that more such startups
will be scouted from the region. He directed that the nodal agency should
continue to handhold the startups and provide all possible help to them.
He also stressed on the need to bring
on board investors and venture capital firms to develop a robust structure of
Earlier, G.M. Dar, Director, JKEDI,
briefed the Commissioner Secretary about various initiatives taken up by JKEDI
for the facilitation of startups in J&K.
Later, 18 startups pitched their
cases for funding, in which 12 were approved while 6 were asked to review their
revenue models and marketing strategies. The startups were approved under
various sectors like edu-tech, agriculture, healthcare, waste management, and
in various other fields.
The benefits of the J&K Startup
policy include providing office space, assistance in product research, monthly
allowances, energy assistance, international patent filing cost reimbursement,
tax benefits, exposure visits, infrastructure support, financing and other
It also provides special attention to
the startups with disruptive value additions in certain focus sectors like food
processing and allied activities, agriculture including horticulture and
floriculture, textiles, apparel & fashion technology, renewable energy,
handicrafts & handlooms, electronics system design and manufacturing, and
information technology-enabled services.
However, the policy is open to all
the sectors for availing benefits.
The meeting was attended by Special
Secretary, Industries & Commerce Department, representatives from Startup
India, Head, TBI-IIIM and Incubation Manager of Centre for Innovation
Incubation and Business Modeling (CIIBM), JKEDI.