DPIIT and JKEDI sign MoU to strengthen startup ecosystem in J-K

New Delhi [India], January 28 (ANI): In a landmark move to bolster the startup ecosystem in Jammu and Kashmir, the Department for Promotion of Industry and Internal Trade (DPIIT) and the Jammu & Kashmir Entrepreneurship Development Institute (JKEDI) have signed a Memorandum of Understanding (MoU) aimed at fostering collaboration, mentorship, and support for startups in the region, said a release.
The signing took place during "Jammu Kashmir Konnect," a special startup-focused programme organized at JKEDI's Baribrahamna campus, where startups, incubators, and key-way stakeholders gathered to discuss innovation and growth opportunities. Dr. Sumeet K Jarangal, IAS, Director DPIIT, and Shri Rajinder Kumar Sharma, JKAS, Director JKEDI, formally signed the MoU, marking a significant step toward strengthening startup support systems in J&K. While incubators and startups from the Jammu division attended the event physically, those from the Kashmir division participated virtually, the release added.
During the programme, Director DPIIT and Director JKEDI held one-on-one interactions with all incubators, discussing their challenges, needs, and future plans. The session provided a unique platform for incubators to share insights, suggest improvements, and seek policy-level support for enhancing the startup ecosystem, the release mentioned.
Addressing the gathering, Dr. Sumeet K Jarangal emphasized the need for DPIIT-recognized incubators to avail Funds of Funds and Seed Fund. He stressed that while financial resources are available, structured mentorship and handholding remain the most crucial factors for startup success. He also assured that more interactive sessions will be conducted in the future, encouraging startups to shift their mindset toward becoming job providers rather than job seekers. Furthermore, he highlighted India's ambition to become a global leader in advanced technology sectors, reducing dependence on countries like Israel and the U.S., the release said.
Speaking on the occasion, Rajinder Kumar Sharma reiterated JKEDI's commitment as the nodal agency for Startup JK, stating that the institute is actively collaborating with various organizations to strengthen the startup ecosystem in the region. He assured that more such workshops will be conducted in partnership with DPIIT and incubators to ensure continuous knowledge sharing and engagement. He also lauded the achievements of a startup from Udhampur that has attained unicorn status, underscoring the immense potential of J&K's emerging startup ecosystem, the release said.
The MoU between DPIIT and JKEDI paves the way for greater branding, outreach, and accessibility to Startup India's ecosystem, fostering mentorship, knowledge exchange, and infrastructure support. It also focuses on market linkages, funding networks, and international expansion opportunities, aligning with India's vision of becoming a developed nation by 2047, the release said.
During the event, Director JKEDI highlighted the impact of the JK Startup Policy, launched in March 2024, which has led to over 250 new startup registrations on the DPIIT portal taking the total to 988 in a short span. He also emphasized the significant outreach efforts undertaken by JKEDI, stating that during the current financial year, the institute has successfully conducted 601 Entrepreneurship Awareness Programs (EAPs) across Universities, Colleges, Higher Secondary Schools, and IITs in 20 districts of J&K--without incurring any expenses, the release said.
The "Jammu Kashmir Konnect" programme, coupled with the signing of the MoU, marks a major milestone in J&K's startup ecosystem, ensuring that aspiring entrepreneurs receive the mentorship, funding opportunities, and ecosystem support needed to thrive. The Head of the Incubators from. IIT- Jammu, IIM-Jammu, Jammu Universty, SKUAST-Jammu, Cluster University and CIIIT Jammu along with the FICCI Flo attended the event physically whereas Incubators from NIT- Srinagar, IUST Univercity, SKUAST - Kashmir and CIIIT Baramulla joined virtually, said the release. (ANI)