Startups are powerful instrument to bridge universities-industries gap: LG Sinha

Srinagar, June 29: Lieutenant Governor Manoj Sinha today addressed the National Seminar on the 'Role of academic-driven Startups in developing economy of J&K UT (RASE 2024)’, at NIT Srinagar.

In his keynote address, the Lt Governor commended the initiative aimed at creating an environment to inspire, empower and connect academia and industry and mentor the students to lead startup ecosystem.

“I believe Startups are powerful instrument to bridge the gap between universities and industries. The Startups have also been able to meet the two important objectives- employment generation and profit generation,” the Lt Governor said.

The Lt Governor motivated the students to set action-oriented goals to turn their entrepreneurial dream into reality and contribute to nation’s socio-economic transformation and economic growth.

“My message to future Startups entrepreneurs is to focus on 'Problem First' and not ‘Product First’ so that your ideas can accelerate the process of Viksit Bharat and also encourage entrepreneurial spirit among young students,” the Lt Governor said.

The Lt Governor also highlighted the potential of Academic-driven startups to transform J&K’s economy by fostering a culture of innovation and entrepreneurship in educational institutions. In this regard he highlighted the UT Administration’s key initiatives like J&K Start-up Policy and potential in Holistic Agriculture Development Program (HADP) to transform the start-ups and entrepreneurship ecosystem in the UT, especially in rural areas.

There are immense possibilities for startups in tourism, health, logistics, handloom, handicraft, horticulture, agriculture and allied sectors. Under the guidance of Hon’ble PM Shri Narendra Modi, we are committed to provide necessary support and handholding to the young entrepreneurs in both technology and non-technology sectors, he said.

He said the national level seminar will encourage Universities/Colleges to invest in future and nurture the talents for impactful innovations.

The Lt Governor further emphasised the need to provide high-quality technical and vocational education and training to future entrepreneurs.

Two other important objectives of the Startups are to develop and transfer new technology for societal transformation and create a vast talent pool as per the needs of the industry, the Lt Governor observed.