Excelsior Correspondent
Srinagar, Feb 10: The J&K Government today informed the Legislative Assembly that no seed capital was provided to startups in 2023–24 and 2024–25, with funding support being extended only in the current financial year.
Replying to an unstarred question by MLA Shabir Ahmad Kullay, the Industries and Commerce Department said that Rs 3.60 crore was sanctioned in favour of 18 startups during 2025–26, at Rs 20 lakh per startup.
However, it was informed that only Rs 90 lakh has been released so far, with Rs 5 lakh disbursed to each beneficiary startup.
The Government stated that no seed capital assistance was provided in the two preceding financial years, despite the implementation of the J&K Startup Policy 2024–27.
Meanwhile, the House was informed that a total of 1,270 startups have been registered with the J&K Entrepreneurship Development Institute (JKEDI) since the launch of the startup programme.
Of these, 198 were registered in 2023–24, 293 in 2024–25, and 779 in 2025–26 till January 31, 2026, reflecting a rise in entrepreneurial activity in the Union Territory.
To strengthen the startup ecosystem, the Government said that 11 mentoring sessions, 43 boot camps, and four venture capital/equity funding rounds were conducted over the past three financial years.
In 2023–24, as per the Government, only one mentoring session was held, with no boot camps or funding rounds.
In 2024–25, four mentoring sessions and one venture capital funding round were organised.
However, in the current financial year till January 31, 2026, the number increased to six mentoring sessions, 43 boot camps, and three funding rounds.
The Government also disclosed that no units were established under the Youth Startup Loan Scheme (YSLS), Seed Capital Fund Scheme (SCFS), and National Minorities Development and Finance Corporation (NMDFC) scheme during the past three years, and consequently, no employment opportunities were generated under these schemes during the period.
On infrastructure development, the Government said the Ministry of MSME, Government of India, has sanctioned Rs 291.12 lakh for strengthening JKEDI’s district-level training infrastructure, including the establishment of mini smart classrooms under the Assistance to Training Institute (ATI) scheme.
It added that the tendering process for procurement of approved equipment has been initiated through the GeM portal, after vetting of technical specifications by the Information Technology Department and IIT Jammu.
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