06-28-2022     3 رجب 1440

Startups key to economy

June 23, 2022 |

For future economy, establishment of start ups hold the key to growth and over the years the government at federal level has been pushing these innovations to a level playing field but in Jammu and Kashmir the scenario has been dismal in terms of scale and intervention. Even though the UT administration claims to have worked on encouraging the startups so as to foster innovation but the situation on the ground belies the reality as few ventures have stabilized while rest have almost vanished. The government should further intervene to push these startups as their development is correlated to creation of jobs and raising economic graph. The authorities incharge of startup growth should focus on sectors like food processing, agriculture, renewable energy, handicrafts and handloom by vigorously promoting them in these vital sectors. For this a strong collaboration at various levels will bring a meaningful change in the private and public sector. Besides, this will provide 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 future world. The startups are next gen game changer since these would stimulate economic growth. Here the government should provide incubation and seed funding support to brilliant ideas and solutions. The aim should be to build a strong ecosystem for nurturing innovation and startups in J&K and the synergies between establishments will encourage and empower young innovators and boost private investment in startups. The startup revolution though late is somehow stabilising in J&K as the start-ups under Aroma Mission are being the best starting points under it, creating household names in India like Bharat Bhushan, the brand ambassador of Aroma Mission in India who not only doubled but quadrupled his income only in few years. Startup ecosystem is turning youth of J&K into job providers rather than job seekers. The ideas of young minds are heard, polished, funded and handheld by the government agencies under the guidance of the Lieutenant Governor. The creation of industry innovation clusters by the government is encouraging youth to choose their own destiny and become role models for younger generation. The Centre for Innovation and Economic Development (CIED) provides young innovators an opportunity to turn their startup ideas into reality. Jammu and Kashmir have to fill the gap since StartUps in India grew from 300 to 70,000 in 8 years which is more than 200 times increase from 2014 to 2020.

Startups key to economy

June 23, 2022 |

For future economy, establishment of start ups hold the key to growth and over the years the government at federal level has been pushing these innovations to a level playing field but in Jammu and Kashmir the scenario has been dismal in terms of scale and intervention. Even though the UT administration claims to have worked on encouraging the startups so as to foster innovation but the situation on the ground belies the reality as few ventures have stabilized while rest have almost vanished. The government should further intervene to push these startups as their development is correlated to creation of jobs and raising economic graph. The authorities incharge of startup growth should focus on sectors like food processing, agriculture, renewable energy, handicrafts and handloom by vigorously promoting them in these vital sectors. For this a strong collaboration at various levels will bring a meaningful change in the private and public sector. Besides, this will provide 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 future world. The startups are next gen game changer since these would stimulate economic growth. Here the government should provide incubation and seed funding support to brilliant ideas and solutions. The aim should be to build a strong ecosystem for nurturing innovation and startups in J&K and the synergies between establishments will encourage and empower young innovators and boost private investment in startups. The startup revolution though late is somehow stabilising in J&K as the start-ups under Aroma Mission are being the best starting points under it, creating household names in India like Bharat Bhushan, the brand ambassador of Aroma Mission in India who not only doubled but quadrupled his income only in few years. Startup ecosystem is turning youth of J&K into job providers rather than job seekers. The ideas of young minds are heard, polished, funded and handheld by the government agencies under the guidance of the Lieutenant Governor. The creation of industry innovation clusters by the government is encouraging youth to choose their own destiny and become role models for younger generation. The Centre for Innovation and Economic Development (CIED) provides young innovators an opportunity to turn their startup ideas into reality. Jammu and Kashmir have to fill the gap since StartUps in India grew from 300 to 70,000 in 8 years which is more than 200 times increase from 2014 to 2020.


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Owner, Printer, Publisher, Editor: Farooq Ahmad Wani
Legal Advisor: M.J. Hubi
Printed at: Abid Enterprizes, Zainkote Srinagar
Published from: Gulshanabad Chraresharief Budgam
RNI No.: JKENG/2010/33802
Office No’s: 0194-2451076, 9622924716 , 9419400056
Postal Regd No: SK/135/2010-2019
Administrative Office: Abi Guzer Srinagar

© Copyright 2018 brighterkashmir.com All Rights Reserved.