Srinagar: The Jammu and Kashmir Entrepreneurship Development Institute (JKEDI) on Wednesday began a two-day screening exercise to evaluate 63 startup proposals from Kashmir Division for seed funding under the J&K Startup Policy 2024–27.
On the first day, 35 aspiring startups presented their business ideas before the Startup Screening Committee, while another 28 are scheduled to make presentations on Thursday.
The meeting was chaired by JKEDI Director Mohammad Younis Malik and attended by experts representing government departments, financial institutions, academia and industry.
The committee assessed the proposals on the basis of innovation, business viability, scalability, problem-solving potential and their ability to address market needs.
The panel included Rishpal Singh, Special Secretary, Industries and Commerce Department; Sudershan Kumar, Managing Director, Jammu and Kashmir Trade Promotion Organisation (JKTPO); Mohammad Nazir Sheikh, Director, Handloom and Handicrafts, Jammu; Professor Parvaiz Mir, Director, Centre for Innovation and Entrepreneurship Development (CIED), Islamic University of Science and Technology; and Saad Parvaiz, Associate Professor at the National Institute of Technology (NIT) Srinagar.
Other members included Javaid Ahmad Tenga, president of the Kashmir Chamber of Commerce and Industry; Dr Irfana Rashid, coordinator of the New Generation Innovation and Entrepreneurship Development Centre at the University of Kashmir; Ishfaq Ahmad Hakak, Assistant General Manager at Jammu and Kashmir Bank; Abdul Rouf Khan, incubation manager at SKIIE, Sher-e-Kashmir University of Agricultural Sciences and Technology of Kashmir (SKUAST-K); and Md Adnan Rehman, assistant incubation manager at IIT Jammu.
The committee noted the potential of the proposals presented on the first day to contribute to entrepreneurship and economic growth in Jammu and Kashmir. Members stressed the need to promote innovative, market-oriented and scalable ventures capable of generating employment and responding to emerging market demands.
The seed funding component of the J&K Startup Policy 2024–27 is intended to help eligible startups develop prototypes and launch innovative products and services, enabling them to move from the idea stage towards commercialisation.
Following the screening process, the committee will recommend suitable proposals to the Startup Task Force Committee, headed by the Commissioner Secretary of the Industries and Commerce Department, for consideration under the policy’s provisions and guidelines.
