Start-ups reflect force shaping economy in networked age: LG Sinha

Jammu, Nov 8: Lieutenant Governor Manoj Sinha inaugurated “Igniter” biggest Start-up festival of J&K UT at the University of Jammu, today.

The mega event was organised by Jammu University in collaboration with J&K Start-up Association, J&K Bank, J&K Rural Livelihood Mission, Mission Youth, Departments of Tourism, Science and technology, and Skill Development.

In his address, the Lt Governor congratulated the organisers and the participants of the mega event that brought together various stakeholders and investors on one platform.

The Lt Governor observed that University and college campuses are known as liquid platform of ideas and the best we can do is to create an environment so that great ideas can be realised.

“I strongly believe Start-Ups reflect the force shaping economy in the networked age,” he said.

The Lt Governor said for an ideal entrepreneurial climate, it is important to provide facilities like cross-campus collaboration, dedicated work space, 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 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 the 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 Prime Minister Narendra Modi , 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 the 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 National Innovation and Start-up Policy (NISP) of 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 University of Jammu.

Umesh Rai, Vice-Chancellor, University of Jammu gave a detailed overview of the event and highlighted the key initiatives of the University.

Rajinder Sharma, Mayor, JMC; Sh Rajeev Rai Bhatnagar, Advisor to Lt Governor;Saurabh Bhagat, Commissioner/Secretary, Skill Development Department; Sh Sudhir Gupta, Executive Director, J&K Bank; other dignitaries, guests from across the country, students and stakeholders were present.