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DPIIT, JKEDI sign MoU to strengthen startup ecosystem in J&K

Published: Jan 29, 2025

By TIOLCorplaws News Service

NEW DELHI, JAN 29, 2025: DEPARTMENT for Promotion of Industry and Internal Trade (DPIIT) and the Jammu & Kashmir Entrepreneurship Development Institute (JKEDI) have signed a Memorandum of Understanding (MoU) aimed at fostering collaboration, mentorship, and support for startups in the region.

The signing took place during "Jammu Kashmir Konnect," a special startup-focused program organized at JKEDI's Baribrahamna campus, where startups, incubators, and key-way stakeholders gathered to discuss innovation and growth opportunities. DPIIT and JKEDI formally signed the MoU marking a significant step toward strengthening startup support systems in J&K.

The MoU between DPIIT and JKEDI paves the way for greater branding, outreach, and accessibility to Startup India's ecosystem, fostering mentorship, knowledge exchange, and infrastructure support. It also focuses on market linkages, funding networks, and international expansion opportunities, aligning with India's vision of becoming a developed nation by 2047.

During the program, Director DPIIT and Director JKEDI held one-on-one interactions with all incubators, discussing their challenges, needs, and future plans. The session provided a unique platform for incubators to share insights, suggest improvements, and seek policy-level support for enhancing the startup ecosystem.

During the event, Rajinder Kumar Sharma, JKAS, Director JKEDI highlighted the impact of the JK Startup Policy, launched in March 2024, which has led to over 250 new startup registrations on the DPIIT portal taken the total to 988 in a short span. He also emphasized the significant outreach efforts undertaken by JKEDI, stating that during the current financial year, the institute has successfully conducted 601 Entrepreneurship Awareness Programs (EAPs) across Universities, Colleges, Higher Secondary Schools, and IITs in 20 districts of J&K-without incurring any expenses.

The "Jammu Kashmir Konnect" program, coupled with the signing of the MoU, marks a major milestone in J&K's startup ecosystem, ensuring that aspiring entrepreneurs receive the mentorship, funding opportunities, and ecosystem support needed to thrive.

The Head of the Incubators from IIT- Jammu, IIM-Jammu, Jammu University, SKUAST-Jammu, Cluster University and CIIIT Jammu along with the FICCI Flo attended the event physically. Incubators from NIT- Srinagar, IUST University, SKUAST - Kashmir and CIIIT Baramulla joined virtually.

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