J&K Start-up Policy gets going

*Principal Secy Industries interacts with young innovators

Excelsior Correspondent

SRINAGAR, Sept 29: Principal Secretary, Industries and Commerce, Shailendra Kumar, today said the State Government is committed for providing a vibrant ecosystem under J&K Start-Up Policy 2018 to foster an environment for innovation.
Chairing an interactive session at Sanat Ghar here in Bemina with around two dozen young innovators of Kashmir Valley, Kumar said the Government has announced a slew of incentives under J&K Start-Up Policy 2018 which was approved by the State Administrative Council (SAC) earlier this month.
Kumar said the Government is contemplating to formulate a policy which will help Start-Ups in getting listed on the Stock Exchange, “We are aggressively pursuing big businesses across the country to invest in Jammu and Kashmir-based Start-Ups and we are hopeful that our efforts will bear fruits,” he said.
During the interaction, the Valley-based innovators raised various issues with the Principal Secretary regarding the simplification of processes involved in planning, strategy, funding and marketing of the Start-Ups. Kumar said the Government is going to hire a global consultancy which will remove bottlenecks in providing an enabling environment for the local Start-Ups.
Under the new policy, Start-Ups will get office space at subsidized price, monthly allowance of Rs 10,000 to 12,000- and one-time assistance of Rs 10 – 12 lakh, subject to approval of state’s ‘Task Force,’ for Start-Ups and energy assistance of 100 percent subsidy on purchase of diesel generator, solar/wind generator, etc. 58 Starts-Ups from J&K are registered with Directorate of Industrial Policy and Promotion.
“With Atal Incubation Centres coming up, the Government will provide free space for innovators who are recognized by the ‘Task Force’. The Government also acknowledges the need for an IT Park for Start-Ups and it will be examined but patience and perseverance are the key.
The Principal Secretary asked the officers to organize a meeting of innovators with the administrative secretaries of various State Departments and monthly meetings with the Industries Department for necessary for exchange of views.
The meeting was also attended by Director Jammu Kashmir Entrepreneurship Development Institute (JKEDI), M I Parray, senior officers of Industries and Commerce and other allied departments.


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