‘J&K Start-up Policy-2018’ envisages growth of 500 new start-ups in next 10 yrs’

‘J&K Start-up Policy-2018’ envisages growth of 500 new start-ups in next 10 yrs’
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I&C Directorate hosts workshop on ‘J&K Start-up Policy-2018’
JAMMU: Director Industries and Commerce, Jammu, Ravi Shankar Sharma on Friday asked the officers to identify and nurture innovation around them emphasising that innovation cannot only be in IT field, but also in small matters in our day-to- day life.
“The need of hour is to assist such innovations so that these are converted into practical enterprises,” he added.
Sharma was addressing the officers during a daylong workshop on the ‘J&K Start Up Policy -2018’ organised at the Directorate of Industries & Commerce, Jawahar Lal Nehru Udyog Bhawan, here.
He threw light on the ‘J&K Start Up Policy -2018’ announced recently by the state government.
The workshop was attended by staff of Entrepreneur Development Institute and officers of DICs of Jammu division, an official handout read.
Vishal Monga of Ernst & Young and Vishal Mahajan, In-charge IT Cell, J&K SICOP provided the participants hands on training on the web portal www.startupjk.com.
He said “the policy envisages nurturing the growth of at least 500 new start-ups in J&K in the next ten years”. “Establishment of state-of-the-art incubators, access to early stage investment, setting up of innovation labs/fabrication labs, etc. are the main corner stones of the policy,” he added.
It was explained that an online application has to be submitted by budding entrepreneurs. “The state government shall provide financial assistance of Rs 10,000 or Rs 12,000 per month for a period of one year. Subsequently, a onetime assistance for product research and development / marketing / publicity upto Rs 12.00 lakh can be given,” he informed adding the policy also has provision of setting up of incubators by renowned institutes of the state, the handout added.