Lieutenant Governor Manoj Sinha on Wednesday inaugurated ‘Igniter’ the biggest Start-up festival of Jammu and Kashmir at the University of Jammu.
Stating that the university and college campuses are known as liquid platforms of ideas, LG Sinha said that an environment for the realisation of great ideas has to be created. “I strongly believe Start-Ups reflect the force shaping the economy in the networked age.”
The Lt Governor said for an ideal entrepreneurial climate, it is important to provide facilities like cross-campus collaboration, dedicated workspace, mentorship programs, industry collaboration and vehicles for innovation. Such enabling environment and challenges will ignite new innovations and solutions, he added.
“A great idea will always survive in the long run, if the entrepreneur takes into account the changes happening in the world in terms of market, customer preference, technology and timely execution of business plan. Competition for ideas and execution must start from the campus,” the Lt Governor said.
The Lt Governor said that by unleashing the creativity of the students and budding entrepreneurs, we will be able to ensure a high growth rate and direct benefits for Jammu Kashmir and the nation in terms of knowledge products and Intellectual property.
The Lt Governor reiterated the commitment of UT Administration to create a start-up ecosystem and to provide access to capital and other resources, fostering innovation and entrepreneurship, and networking opportunities with other start-ups and investors.
At the mega event to promote start-up ecosystems in J&K, the Lt Governor highlighted examples of successful start-up ventures from across the world. He also addressed some common myths regarding the new startups.
The start-ups and unicorns have seen an increase since 2014. Under the guidance of Hon’ble Prime Minister Shri Narendra Modi ji, the Vocal for Local movement has given a huge opportunity to entrepreneurs to realize their potential in the inter-linked world, the Lt Governor said.
There is a huge potential for start-ups in Tourism, Health, Logistics, Handloom, Handicraft, Horticulture, Agro-based start-ups, and IT-enabled services in J&K, he added.
The Lt Governor directed J&K bank to provide support and financial assistance to startups and incentivize successful startups.
The MoUs were signed between Jammu University and stakeholders viz. JK Bank, J&K Startup Association, Department of Science and Technology, J&K, Department of Skill Development for collaboration and knowledge sharing.
The Lt Governor released the National Innovation and Start-up Policy (NISP) of the Skill Incubation Innovation Entrepreneurship Development Centre, University of Jammu, and launched five other important initiatives to strengthen the ecosystem of startups. The Lt Governor also inaugurated One MW Grid Connected Rooftop Solar Power Plant installed at the University of Jammu.
The event was organised by Jammu University in collaboration with JK Start-up Association, J&K Bank, J&K Rural Livelihood Mission, Mission Youth, Departments of Tourism, Science, and technology, and Skill Development.