Startups a game changer for economic growth: Lt Guv
Says government determined to provide incubation, seed funding support
AWANTIPORA: Lieutenant Governor Manoj Sinha has termed startups as a true game changer for economic growth.
Addressing the National Academia-Industrial Conclave at Islamic University of Science and Technology (IUST) on Wednesday he said that startups as a true game changer for economic growth, adding that the government is determined to provide incubation and seed funding support to brilliant ideas and solutions.
“Our aim is to build a strong ecosystem for nurturing innovation and startups in J&K and the synergies between industrial and academic establishments will encourage and empower young innovators and boost private investment in the Startups”, the Lt Governor said.
The Lt Governor asked all stakeholders to focus on affordability, sustainability of innovative products, creation of Industry Innovation clusters to encourage young entrepreneurs and drive job creation.
Under the guidance of Prime Minister, Narendra Modi, India’s Start ups are making their place in the global market. India is now ranked third in the world in terms of innovation and start-ups after the US and China, the Lt Governor observed.
During his visit to IUST, the Lt Governor inaugurated several key infrastructure facilities on the University campus, including the Centre for Innovation & Entrepreneurship Development (CIED), Food Technology Block, SSM Memorial College of Nursing & Medical Technology, and Food Testing Lab.
The Lt Governor also presided over the signing of several MoUs between IUST and Industry Associations, Businesses, Institutions and the Government.
In his address, the Lt Governor termed the Conclave as a path-breaking initiative to bridge the gap between academia and industry. Collaboration with stakeholders will help in building an enabling environment for innovation to flourish in UT of J&K, the Lt Governor said.
“A strong Academic-Industry collaboration will bring a meaningful change in the private and public sector, besides providing an opportunity to promote innovation, work on new model of IEC – Innovate, Evolve and Commercialize the relevant technology, building new knowledge to meet the needs of the future,” added the Lt Governor.
The Lt Governor entrusted upon the Industry and academic institutions like IUST, Kashmir University, Jammu University, NIT, IIT to encourage the culture of innovation and provide institutionalized handholding to the budding innovators and researchers.
“We have turned the red tape into red carpet. Under the guidance of Prime Minister, UT is witnessing unprecedented industrial investment. The impact of industrial growth will soon reflect in other sectors too. Academic-Industry collaboration and initiatives like CIED will provide an opportunity to promote innovation and ensure market linkage,” said the Lt Governor.
“I assure the young innovators that if your idea has potential, the government will extend every possible support to transform your ideas into entrepreneurship ventures”, added the Lt Governor.
The Lt Governor also congratulated the IUST for the new Center for Innovation & Entrepreneurship Development (CIED) which aims to accelerate innovation, incubation, entrepreneurship among youth with prime focus on Women Entrepreneurs.
The Lt Governor further urged the representatives of the Industry and Academia to launch an annual Vice Chancellor’s Innovation Challenge to encourage and reward new ideas.
Speaking on the recent decision of age relaxation in the upper age limit for the ensuing Jammu and Kashmir Combined Competitive Examination (JKCCE), the Lt Governor said that the government is sensitive towards the needs and aspirations of the people, especially the youth of J&K.
As many as 16 startups were provided seed capital funding of Rs 5 Lakh each for a period of two years, besides Training and Development programmes were initiated for local food manufacturing, service and agro-industrial units. More than 125 industrial units of the UT are participating in Food Technology training, Digital marketing, leadership development for budding entrepreneurs, it was informed.
On the occasion, the Lt Governor also interacted with the Innovators who briefed him about their startups developed under the aegis of CIED, IUST. He also handed over sanction letters to Startups and released IUST’s Newsletter.
A documentary on CIED start-up innovations was also showcased at the event.
Rajeev Rai Bhatnagar, Advisor to Lt Governor, while speaking on the occasion congratulated the students, faculty and management of IUST for its endeavours for building an ecosystem of innovations. He stressed on feedback mechanism, result oriented and outcome based approach while applying course connection mechanism for obtaining the best results.
Dr. Arun Kumar Mehta, Chief Secretary while addressing the students said that innovations should be aimed at meeting the needs of the society in the new and easy ways. He highlighted the major inventions done in the human history and said that once India was the melting pot of the world in terms of innovation. He stressed on the students and innovators for exploring the scope and scale of inventions that could benefit the people.
Padma Shri Prof Anil Gupta, Founder GIAN, while speaking on the occasion complimented IUST for holding the two day National level Academia-Industry Conclave. He laid thrust on identifying the underutilized resources and explained the significance and need of developing open innovations that are accessible to all.
Prof. Talat Ahmad, Vice Chancellor, University of Kashmir also spoke on the occasion and extended his congratulations for the Conclave. He said that the technical and training sessions would be highly useful for students in learning new skills and developing their knowledge.
Professor Shakil Ahmad Ramshoo, Vice Chancellor, IUST while presenting the welcome address spoke on the aim of the two day long National level conclave. He also highlighted the achievements of the University.
Rohit Kansal, Principal Secretary, Higher Education; Pandurang K. Pole, Divisional Commissioner Kashmir; Vijay Kumar, IGP Kashmir; Former Vice Chancellors; Parvez Ahmed Mir, Director, Center for Innovation & Entrepreneurship Development (CIED); members of IUST-Industry Council, Start-up Entrepreneurs, Innovators, besides senior officers, distinguished participants from the Industry, Principals, Deans, HODs, Researchers, Scholars, Students and faculty members of IUST attended the Conclave.