J&K Startup Policy 2018-2028: Jammu and Kashmir Scales-Up Entrepreneurial Efforts

The citizens of Jammu and Kashmir have finally admitted their passion for entrepreneurship. The geographically gifted region inspires creativity and the birth of new ideas. Now with the terror-free climate and political stability, the people are trying their hand in all areas of interest, taking advantage of the accessible government facilities and initiatives supporting the foundation of a self-dependent flourishing economy.

Since its inception, the J&K administration has stressed the upliftment of women in society. Their education and subsequent employment in activities that can make them financially independent, such as a home-based Crewel Embroidery business, or a mushroom or medicinal plants business. Over 40,000 women in Jammu and Kashmir have been classified as millionaires as they earn over Rs 1 lakh a month with 65 per cent among them entrepreneurs.

In one such initiative, under the ‘J&K Startup Policy 2018-2028’ the youth is motivated to pursue innovation and entrepreneurship. Startups are equipped with liberal funding from government programs to build a conducive environment for going for a self-dependent lifestyle. The focus sectors of the policy include Construction and Engineering, Food Processing and Allied activities, Agriculture including Horticulture and Floriculture, Textiles, Handicrafts, Handlooms and their designing, and so on.

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The policy will nurture 500 new start-ups that are unique in their fields and springboard them to greater heights. 10 new state-of-the-art incubators are underway that will facilitate access to early-stage investments for these startups. The growing need for such capacities in secondary schools and universities has been finally answered through this policy. Innovation and fabrication labs have been set up in select institutes in Jammu and Kashmir.

A strong institutional framework for effective implementation, monitoring, and evaluation of the policy will help to constantly iterate the innovation mechanism at the high school/college level to fine-tune the skills of the individuals graduating from these institutions. A mind has to be moulded in a certain way to bring out the best, uncommon ideas, and this machinery is aimed at that development.

The Jammu and Kashmir Entrepreneurship Development Institute (JKEDI) is the nodal agency for the implementation of the policy. Participation in the program would give access to nominal co-working spaces with high-speed internet facilities at JKEDI campuses in all 20 districts of the Union Territory, along with a monthly allowance of Rs. 10,000.

Startups are also provided with the one-time benefit of Rs 10 Lakh for Product Research and Development, Marketing, or Publicity. And this is just the tip of the iceberg in terms of governmental support. Thanks to such enterprises of the government, J&K stars among the top five performers in the Indian startup ecosystem.

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Once upon a time safety of logistics and movement of people in villages was a matter of concern due to the volatile atmosphere of constant shutdowns and violence. Individuals who tried to pull their families out of poor financial conditions or who desired a better life were discouraged in the name of religion. As the government strengthened the administrative systems from the grassroots, striving for a better life was finally possible.

Presently in Kashmir, many people have joined the ‘Yellow Revolution’ owing to the favourable weather for oilseed production. Mustard oil worth around Rs 800 crore will be produced this year alone in Kashmir. The oil extraction process results in many remnants which can be used in other industries. Educated youth that has returned to the Valley have brought with them such knowledge, increasing the scope of doing business.

Last week 24,000 farmers attended the first session of Kisan Sampark Abhiyan, which was a 3-day session held across 264 venues in the UT educating farmers on everything agriculture, from prepping the land to marketing the goods and selling to the best bid. There has been much fanfare in the farming community since this event.

Similar outreach programs are lined up for ambitious farmers involved in animal husbandry, horticulture, sericulture, fishery, beekeeping, and other allied sectors.

After the orientation, the participants will be put through practical training programs which will include reading and video demonstration material, and finally a certificate course. It will be a year-long exercise at the end of which these individuals will be self-sufficient entrepreneurs. The government is leaving no stone unturned driving youth towards self-employment.

The socio-economic landscape of the UT is progressive and growth-oriented. The region has been a goldmine waiting to be discovered for the longest time. Not only is J&K self-sufficient but it has created a huge demand abroad for its produce. Slowly but surely, this untapped land paired with motivated young changemakers will drive the economy towards a steep upward trajectory.

(Source – ANI)