After meeting 100 J&K startups, SEBI-registered investors likely to offer funding soon

Srinagar, Nov 3: After the 93 Jammu & Kashmir based startups pitched business ideas to 24 Alternative Investment Funds (AIFs) at the recently held J&K Capital Connect event here, the NSIC Venture Capital Fund Limited (NVCFL), which is playing a pivotal role for bringing investments to J&K, is hopeful that these investors also called as "Daughter Funds", will be funding the UT based startups soon.

The event, which was inaugurated by Lieutenant Governor Manoj Sinha, saw interactive sessions between the AIFs and J&K based startups, and was held by Jammu & Kashmir Entrepreneurship Development Institute (JKEDI)

Speaking with Greater Kashmir, Saravana Kumar, CEO, NVFCL said the Self Reliant India (SRI) Fund, working under the aegis of the Government of India, has already invested in two companies in J&K, adding that many more AIFs, which met with several startups in Srinagar on November 1 are expected to offer funding in the next one year.

“The main objective is to tap the potential offered by J&K, especially in view of the top-notch higher educational institutes present in the UT. Metro cities might be having more startups but J&K also has a great scope to boost the startup ecosystem and we want to explore that,” said Kumar. He said the number of startups in the UT have grown considerably, adding that some of J&K’s startups have received national and international funding.

“The AIFs that visited Srinagar met a lot of tech-based and service sector, bio-medical and agri-research based startups, which looked quite promising to get funding in days to come,” said Kumar.

Notably, a total of 24 AIFs took part in an event where 93 startups had one-to-one interaction with these investors also known as “Daughter Funds”. “The event generated a good response from investors and we are hopeful there will be some fund investment from these Daughter Funds,” a JKEDI spokesperson told Greater Kashmir.

A "Daughter Fund" is a Category I or Category II Alternative Investment Fund registered with Securities & Exchange Board of India (SEBI), who in turn shall invest in Micro Small and Medium Entrepreneur units.

This event, which was held in collaboration with the Ministry of MSME, through NSIC, represents a significant milestone under the J&K Startup Policy 2024–27, aiming to establish the UT as a premier startup hub in India. The Kashmir-based startups, who participated in the event and met the investors are looking forward to investment opportunities.

Sheikh Yamin, CEO & Co-founder Curve Electric said the initiative marked a pivotal moment for J&K’s startup ecosystem. Yamin, who also pitched business ideas to the investors said for far too long, the flow of institutional risk capital into the region has been negligible, which needs to be boosted. “By bringing national funds face-to-face with local founders, this event acknowledges the economic potential that has remained largely under-capitalised,” said Yamin. He further added: “What we are witnessing is the beginning of a long-awaited shift, the startup community here is moving from isolation to inclusion, from pitching at the margins to participating in India’s mainstream innovation economy. This is not just an event.It is the starting point of venture capital truly entering J&K, enabling sustainable growth, job creation, and scalable solutions that can originate from the Valley and impact the world.”

Khalid Jahangir, Secretary Industries & Commerce Department, and Director, JKEDI expressed hope that the futuristic event will infuse life in the entrepreneurial landscape of J&K.