Dreams in Distress

In the high-stakes world of startups, the odds are not in your favour—statistics show that nearly 90% of startups fail globally. Yet, success is rarely accidental for the fortunate few who defy the odds. According to insights from CoFoundersLab, one of the largest global networks for entrepreneurs, the thriving startups consistently exhibit a unique blend of mindset, discipline, and strategy. Successful startups aren’t just lucky—they’re built to win. They move fast, stay lean, and adapt with agility. Their founders are visionaries with the grit, discipline, and network to turn dreams into reality. They embrace the rollercoaster journey of entrepreneurship and never stop pushing forward.

Kashmir is a land of startup opportunities, yet it faces many challenges. Today’s youth are passionate about doing it, but lack resources, perseverance, and patience. They have the right idea, often driven by a blue ocean strategy, based on problem-solving and creating value in the market; however, they don’t find various stakeholders supporting their idea. The right enabling environment is still missing, although various key stakeholders of the region are claiming much. While significant challenges face J&K’s Innovation and Entrepreneurship ecosystem, ample growth and development opportunities exist. Addressing the infrastructure, funding, skills, and regulatory issues, and leveraging educational and Govt resources aligned with technology adaptation can create a robust regional entrepreneurial ecosystem.

A comprehensive innovation and technology policy must be developed and implemented in letter and spirit that provides clear guidelines and support mechanisms to achieve this. The establishment of innovation hubs with modern infrastructure, academic institution collaborations with funding agencies such as DST, BIRAC, MoMSME, and NITI Aayog, as well as industrial collaboration, needs special attention.

The few incubation centres of the valley established in SKAUST, NIT Srinagar, IUST, EDI, IIIM, and the University of Kashmir are approached by youths with promising ideas across various technological domains, including Agriculture, Horticulture, Food technology, Deep Tech, Drone technologies, Waste management, Engineering, and Service sectors.

But are these incubation centres rightly equipped with resources, infrastructure, and autonomy? This is a question unanswered. Success stories are few to share; however, a significant footfall exists. Addressing the gaps in Jammu and Kashmir’s innovation and startup ecosystem requires a multifaceted approach that includes infrastructure development, improved funding, regulatory reform, talent development, and support for sustainable practices. The region can create a more dynamic and supportive environment for innovation and entrepreneurship by eliminating these gaps to drive sustainable development and economic growth.

The significant gaps that still exist in the ecosystem across J&K can be summarised as:

1. Innovation Gap: Gap between Scientific Research and its application in Industry. Despite significant advancements in S&T, there remains a disconnect in transitioning these innovations into commercially viable products and services. A disconnect between science and industry leads to stalled innovations, sometimes promising research/innovation failing to reach the market.
2. Barriers to collaborations: Cultural, interpersonal, prioritizations, lack of communication, funding constraints, Govt official support, and other human factors create a barrier preventing effective collaborations between scientific institutions and industry.
3. Technological Transfer Challenges: Intellectual Property issues, the complexity of scaling research for industrial applications, and the slow adoption of new technologies by J&K MSMEs and entrepreneurs.
4. Skill Gaps: Skill and Knowledge gaps between scientific and industrial professions hinder communication and collaborations.
5. Socio-Economic Barriers: Local entrepreneurs face challenges such as limited access to finance, Marketing support, infrastructure deficits, and policy adaptation and implementation.

Because in the world of startups, survival isn’t the goal—success is. So, what separates the survivors from the rest? Here are the top 11 suggestions for startups that can create value in meeting their startup goals and objectives:

1. Vision: A Clear North Star

Every successful startup must have a powerful vision. It’s more than just an idea—it’s a long-term goal that drives the company forward, especially during hard times. A startup founder must know what they’re building and how it will generate revenue. That first rupee is a significant milestone, especially for investors.

2. Speed: Agility Wins the Race

Time is one of the startup’s most precious resources. The ability to execute quickly—launching a product or pivoting strategy—often determines who leads and who lags. Speed also means rapidly learning from mistakes and iterating fast. In this arena, knowledgeable, hands-on team members make all the difference.

3. Financial Discipline: Mastering the Budget

Great startups are lean and financially savvy. They allocate budgets with precision, cut unnecessary costs, and maximize the impact of every dollar spent. Efficiency becomes not just a habit but a survival strategy.

4. Social Capital: The Power of Relationships

In the startup ecosystem, who you know can matter as much as what you know. Founders with strong networks gain faster access to investors, partnerships, and opportunities. More importantly, great leaders know how to inspire their teams to stick through the ups and downs—even when the perks are limited and the sacrifices are high.

5. Discipline: Doing What Needs to Be Done

Discipline isn’t just about work hours—it’s a mindset. It means showing up consistently, meeting goals, and holding oneself and others accountable. Teams unified by discipline are far more likely to deliver results, even when facing adversity.

6. Determination: Grit Over Glamour

Startups demand resilience. Founders must be prepared to face roadblocks, rejections, and uncertainty head-on. As Jim Collins wrote in Good to Great, success is about getting the right people on the bus—and keeping the wheels turning, no matter how rough the road.

7. Adaptability: Embrace Change or Be Left Behind

The ability to pivot and adopt new technologies is a hallmark of winning startups. Products often evolve dramatically from their original concept, and those willing to iterate early are usually the ones who eventually strike gold.

8. Fundraising Savvy: Capital is King

Without funding, even the best ideas stall. Top-performing startups are led by CEOs who understand the fundraising landscape and know how to pitch. Online platforms like 1000 Angels have shortened the fundraising cycle dramatically, allowing some startups to secure funding in as little as 60 days.

9. Belief: The Courage to Take Risks

Entrepreneurs must believe sincerely in their mission. Risk is inherent in the startup journey, but with proper diligence and calculated decision-making, these risks can lead to substantial rewards.

10. Time Management: Prioritize What Matters Most

With countless demands and limited resources, founders must become masters of prioritization. Knowing what not to do is just as important as what you choose to focus on.

11. Execution: The Ultimate Differentiator

Ideas are easy—execution is everything. A competent, experienced team that can make sound decisions and get things done is critical to a startup’s long-term success.

The region’s startups and entrepreneurs, fuelled by an idea, a vision, and an unshakeable belief in their potential to make a difference, should embrace their concept that might seem small initially; still, it can change the world. So, when that spark of inspiration strikes, embrace it, nurture it, and believe in it.

Remember, the world’s greatest companies started with a single idea but were filled with Passion and Perseverance. Teamwork makes the Dream Work: No startup succeeds in isolation. Surround yourself with a diverse team of talented individuals who share your vision and complement your skills. Together, you’ll have the collective strength to tackle any challenge that comes your way. Solve Real Problems that people need desperately. Identify a pain point in the market, and create a solution that addresses it. By focusing on solving genuine problems, you’ll not only create value but also build a loyal customer base. Embrace failure as a stepping stone since failure is not the end; it’s a crucial step to success. Every setback teaches us valuable lessons. Embrace failure, learn from it, and use it as a new opportunity toward achieving your goals.

In closing, I want to leave you with one thought: The startup journey is an adventure filled with ups and downs and an incredible opportunity to make your mark on the world. Embrace your ideas, persevere through challenges, and remember that every great company started with a single step.

So, keep believing in yourself and your vision, whether you’re just starting or already on the path. The world is waiting for your startup’s unique contribution. Embrace the journey, and let’s build a brighter future together.

Dr Saad Parvez, Director, Greenovator Incubation Foundation (a section-8 company, NIT Srinagar)