JKEDI holds Startup Screening Committee Meeting for Seed Funding under J&K Startup Policy 2024–27.
SRINAGAR, OCTOBER 28(PTK): The Jammu and Kashmir Entrepreneurship Development Institute (JKEDI) today convened the Startup Screening Committee meeting to evaluate startup proposals from Kashmir Division seeking seed funding under the J&K Startup Policy 2024–27.
The meeting was chaired by Mohammad Younis Malik, Director, JKEDI, and attended by a distinguished panel of experts representing government departments, financial institutions, academia, and industry.
The panel comprised Rishpal Singh, Special Secretary, Industries and Commerce Department; Sudershan Kumar, Managing Director, JKTPO; Mohammad Nazir Sheikh, Director, Handloom and Handicrafts, Jammu, who participated virtually; Prof. Parvaiz Mir, Director, CIED, IUST, Awantipora; Saad Parvaiz, Associate Professor, NIT Srinagar; Javaid Ahmad Tenga, President, Kashmir Chamber of Commerce and Industry (KCCI), Srinagar; Dr. Irfana Rashid, Coordinator, New Generation Innovation and Entrepreneurship Development Centre (New Gen IEDC), University of Kashmir; Ishfaq Ahmad Hakak, AGM, Jammu and Kashmir Bank; Abdul Rouf Khan, Incubation Manager, SKIIE, SKUAST-Kashmir; and Md. Adnan Rehman, Assistant Incubation Manager, IIT Jammu.
On the first day of the two-day exercise, 35 aspiring startups from Kashmir Division pitched their startup business ideas before the committee for consideration under the seed funding component of the policy. 28 startups are scheduled to present their proposals tomorrow, taking the total number of participating startups to 63.
The committee assessed the proposals in terms of their innovation, business viability, scalability, problem solving and potential to address market needs. It observed that the ideas presented on the first day demonstrated considerable promise and could contribute meaningfully to the entrepreneurial growth of Jammu and Kashmir.
The committee members emphasised the importance of fostering a culture of innovation and entrepreneurship among the youth of Jammu and Kashmir. They highlighted the potential of startups in generating employment, addressing emerging market needs, and creating dynamic enterprises. The members also underscored the need to encourage innovative, market-oriented, and scalable business ideas that can be developed into viable enterprises and contribute to the economic growth of the Union Territory.
The seed funding initiative under the J&K Startup Policy 2024–27 aims to support eligible startups in prototype development and the launch of innovative products and services, helping them move from the ideation stage towards commercialization.
Following the evaluation process, the Screening Committee will recommend suitable proposals for consideration by the Startup Task Force Committee, headed by the Commissioner Secretary, Industries and Commerce Department. The recommended proposals will be taken up in accordance with the provisions and guidelines of the policy.
Through this initiative, JKEDI continues to facilitate financial support for promising startups and promote innovation-led entrepreneurship across the Union Territory.(PTK)
