KU awards Rs 56 lakh grant to promote student startups

Srinagar, Mar 29: The University of Kashmir’s (KU) NewGen IEDC Incubation Centre has sanctioned Rs 56 lakh in Grant-in-Aid (GIA) to seven promising startups under the TIDE 2.0 and GENESIS schemes, supported by the Ministry of Electronics and Information Technology (MeitY), Government of India.

During a special interactive session today, Vice-Chancellor KU, Prof. Nilofer Khan, personally handed over the GIA selection letters to the startup founders.

Speaking on the occasion, Prof. Khan reaffirmed the university’s commitment to promoting innovation and entrepreneurship.

"The varsity is dedicated to empowering young innovators by providing financial, technical, and mentorship support. These grants will help our student entrepreneurs transform their ideas into successful ventures,” she said.

Registrar KU, Prof. Naseer Iqbal emphasized the significance of startups in driving economic growth and employment, and said, “The university is committed to providing young innovators with the necessary resources and support to transform their ideas into impactful businesses.”

Coordinator, NewGen IEDC KU, Dr. Sartaj Hussain introduced the startups and highlighted their entrepreneurial initiatives.

The selected startups are working on various innovative solutions such as clean energy, urban transportation, healthcare, and sustainable development.

Over the years, the Centre has supported around a dozen startups in diverse fields like adventure tourism, waste management, and healthcare, providing mentorship and capacity-building along with financial support amounting to Rs 28 lakh.

This event marks an important milestone in the University’s efforts to promote entrepreneurship, positioning it as one of the leading and reliable hubs for startup incubation in the region.