New Start-Up Policy: Govt identifies 10 focus sectors
Srinagar: The Jammu and Kashmir administration has identified 10 different sectors, which will be given special attention under the new start-up policy.
As per the Start-up Policy 2024-27, start-ups coming up in different sectors will get assistance and funding from the government to thrive.
The policy document reveals that these 10 sectors include food processing and allied activities, agriculture and allied sectors including horticulture and floriculture, handicrafts and handloom, education, healthcare and pharmaceuticals, textile, apparel and fashion technology, renewable energy, electronics system design and manufacturing, information technology enabled services, tourism and adventure sports and environment protection and green technology.
As per the policy, the government will create a Technical Support Unit to orchestrate networking activities between various start-up ecosystem players.
“The Government of Jammu and Kashmir shall establish a Technical Support Unit in JKEDI to orchestrate networking activities between various start-up ecosystem players such as start-ups, accelerators, incubators, angel investors, corporates, venture capitalists and other necessary stakeholders. The TSU shall provide necessary support and assistance in appraising incentive cases, collaboration with VCF’s and successful implementation of this policy,” it said.
Under the policy, the government has also decided to create a feedback mechanism to get insights into challenges being faced by the start-ups.
“The Government of Jammu and Kashmir will create quarterly feedback mechanisms from start-ups, mentors, incubators and other related stakeholders on its portal. These surveys, focus groups or public consultations will gather input from start-ups and other stakeholders on the implementation of the start-up policy. The feedback will help provide valuable insights into challenged being faced by the start-ups and the support they intend to receive,” it said.
Pertinently, the union territory administration has targeted to establish Jammu and Kashmir as one of the leading start-up ecosystems in India by 2027.
Under the policy, the administration has targeted to set up at least 2000 new start-ups in Jammu and Kashmir in next five years.
Jammu and Kashmir under the policy has constituted a High-Level Empowered Committee (HLEC) to monitor the performance of Jammu and Kashmir start-up eco-system.
With Chief Secretary as the chairman of the 12-membered HLEC, the committee as per the document shall take necessary decisions for encouragement of innovations in Jammu and Kashmir and modify start-up policy, guidelines from time -to-time
The government has also constituted a start-up task force to monitor the implementation of policy and decisions of HLEC on a regular basis.
The 10-membered task force will be headed by administrative secretary Industries and Commerce department. (KNO)
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