DPIIT and JKEDI Sign MoU to Strengthen Startup Ecosystem in Jammu & Kashmir

The MoU was signed during "Jammu Kashmir Konnect," a startup-centric program held at JKEDI’s Baribrahamna campus.

The Department for Promotion of Industry and Internal Trade (DPIIT) and the Jammu & Kashmir Entrepreneurship Development Institute (JKEDI) have signed a groundbreaking Memorandum of Understanding (MoU) to bolster startup growth and innovation in the region. This collaboration is poised to provide mentorship, infrastructure support, market linkages, and funding opportunities to budding entrepreneurs in Jammu & Kashmir (J&K).

The MoU was signed during "Jammu Kashmir Konnect," a startup-centric program held at JKEDI’s Baribrahamna campus. The event brought together startups, incubators, policymakers, and other stakeholders to discuss strategies for fostering innovation and sustainable growth.

The partnership aims to:

1. Strengthen J&K’s Startup Ecosystem: Enhance branding and outreach efforts, providing greater access to Startup India’s ecosystem.
2. Mentorship and Knowledge Exchange: Facilitate interactions between startups and industry experts to drive innovation.
3. Infrastructure and Funding Support: Provide startups with the tools, connections, and capital needed for success.
4. International Expansion: Create pathways for global exposure and partnerships for startups in J&K.

Highlights of "Jammu Kashmir Konnect"

The event featured one-on-one discussions between the Directors of DPIIT and JKEDI and key incubators. These interactions allowed stakeholders to present their challenges, discuss policy improvements, and plan strategies to elevate the startup ecosystem.

Shri Rajinder Kumar Sharma, JKAS, Director of JKEDI, shared insights on the success of the JK Startup Policy, launched in March 2024. The policy has already resulted in over 250 new startup registrations on the DPIIT portal, bringing the total to 988 in less than a year.

Shri Sharma also detailed the institute’s robust outreach efforts, which included 601 Entrepreneurship Awareness Programs (EAPs) conducted across universities, colleges, IITs, and schools in 20 districts of J&K during the current financial year. These programs were completed without incurring additional expenses, showcasing JKEDI’s commitment to cost-effective and impactful initiatives.

Diverse Participation at the Event

The program saw physical participation from representatives of key incubators, including IIT Jammu, IIM Jammu, Jammu University, SKUAST Jammu, Cluster University Jammu, and CIIIT Jammu, as well as FICCI Flo. Virtual attendees included incubators from NIT Srinagar, IUST University, SKUAST Kashmir, and CIIIT Baramulla.

Vision for the Future

This collaboration aligns with India’s larger vision of becoming a developed nation by 2047. By providing startups in J&K with the mentorship, funding, and global opportunities they need, the MoU aims to transform the region into a hub of innovation and entrepreneurship.

 

The "Jammu Kashmir Konnect" program and the DPIIT-JKEDI MoU mark a significant milestone in J&K’s entrepreneurial journey. With continued efforts to support and empower startups, J&K is poised to become a vibrant contributor to India’s innovation-driven economy.