Manoj Sinha, Jammu and Kashmir lieutenant governor launched a new startup policy 2024 -2027 with a special goal to establish 2000 start-ups by 2027.

On this regard, Sinha said, “New Jammu & Kashmir Start-up Policy- 2024-27” will also provide patent-related assistance, financial assistance for mentorship to recognised startups, facilitation for department for the promotion of industry and internal trade (DPIIT) registration and additional need-based support to start-ups working in diverse fields”.

Further Sinha added, “I invite the potential investors from across the country to explore the unlimited possibilities present in the Union Territory and contribute to the growth journey of J&K,” the lieutenant governor said at the launch of the policy at the AvinyaStartup Summit in Jammu”.

This new startup policy intends for providing entrepreneurship amenities for women, students and empowerment for entrepreneurs via government, private and highly worth and potential individuals to set up the inventive start-ups.

Sinha termed this new startup policy as “giant leap for start-ups and innovators”, and it has been potentially crafted to set up 2000 start-ups by 2027. This significant move underscores the government’s dedication to amplify a vivacious ecosystem for entrepreneurs.

Addressing the major facets of the policy, Sinha stated that the policy goals to establish a 250 crore venture capital fund along with an initial investment of 25 crore from his authority.

Speaking to this Sinha noted, “This fund will provide crucial support for growth, early-stage financial handholding, and it will encourage growth of viable business models”.

Also, he highlighted the dedication of the government to empower and establish novel seed funding and incubation centres via JKEDI - J&K Entrepreneurship Development Institute for providing utmost support to women entrepreneurs.

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