J&K Witnessing Unprecedented Industrial Investment: LG


Says Govt Aimed To Build A Strong Ecosystem For Nurturing Innovation, Startups

Srinagar- Asserting that Jammu and Kashmir is witnessing an unprecedented industrial investment, Lieutenant Governor, Manoj Sinha said on Wednesday that his government’s aim is to build a strong ecosystem for nurturing innovation and startups in the Union Territory.

“Our aim is to build a strong ecosystem for nurturing innovation and Startups in J&K and the synergies between industrial and academic establishments will encourage and empower young innovators and boost private investment in the Startups,” Sinha said, as per an official spokesperson.

The LG made these remarks while addressing the National Academia-Industrial Conclave at Islamic University of Science and Technology (IUST), Awantipora on Wednesday.

During his visit to IUST, the spokesperson said, the LG inaugurated several key infrastructure facilities on the University campus, including the Centre for Innovation & Entrepreneurship Development (CIED), Food Technology Block, SSM Memorial College of Nursing & Medical Technology, and Food Testing Lab.

Sinha, he said, also presided over the signing of several MoUs between IUST and Industry Associations, Businesses, Institutions and the Government.

Terming the Conclave as a path-breaking initiative to bridge the gap between academia and industry, the LG, as per the spokesperson said that collaboration with stakeholders will help in building an enabling environment for innovation to flourish in UT of J&K.

“A strong Academic-Industry collaboration will bring a meaningful change in the private and public sector, besides providing an opportunity to promote innovation, work on new model of IEC - Innovate, Evolve and Commercialize the relevant technology, building new knowledge to meet the needs of the future,” Sinha said.

He also termed the startups as a true game changer for economic growth and said that the government is determined to provide incubation and seed funding support to brilliant ideas and solutions.

According to the spokesperson, the LG asked all stakeholders to focus on affordability, sustainability of innovative products, and creation of Industry Innovation clusters to encourage young entrepreneurs and drive job creation.

“Under the guidance of Prime Minister, Narendra Modi, India’s Start ups are making their place in the global market. India is now ranked third in the world in terms of innovation and start-ups after the US and China,” Sinha said.

The LG, as per the spokesperson entrusted upon the Industry and academic institutions like IUST, Kashmir University, Jammu University, NIT, IIT to encourage the culture of innovation and provide institutionalized handholding to the budding innovators and researchers.

“We have turned the red tape into red carpet. Under the guidance of Prime Minister, UT is witnessing unprecedented industrial investment. The impact of industrial growth will soon reflect in other sectors too. Academic-Industry collaboration and initiatives like CIED will provide an opportunity to promote innovation and ensure market linkage,” Sinha said.

“I assure the young innovators that if your idea has potential, the government will extend every possible support to transform your ideas into entrepreneurship ventures,” he added.

The spokesperson further said that the LG also congratulated the IUST for the new Center for Innovation & Entrepreneurship Development (CIED) which aims to accelerate innovation, incubation, entrepreneurship among youth with prime focus on Women Entrepreneurs.

Sinha, he said, urged the representatives of the Industry and Academia to launch an annual Vice Chancellor's Innovation Challenge to encourage and reward new ideas.

Speaking on the recent decision of age relaxation in the upper age limit for the ensuing Jammu and Kashmir Combined Competitive Examination (JKCCE), the LG, as per the spokesperson said that the government is sensitive towards the needs and aspirations of the people, especially the youth of J&K.

As many as 16 startups were provided seed capital funding of Rs 5 Lakh each for a period of two years, besides Training and Development programmes were initiated for local food manufacturing, service and agro-industrial units. More than 125 industrial units of the UT are participating in Food Technology training, Digital marketing, leadership development for budding entrepreneurs, it was informed.

On the occasion, the Lt Governor also interacted with the Innovators who briefed him about their startups developed under the aegis of CIED, IUST. He also handed over sanction letters to Startups and released IUST’s Newsletter.
A documentary on CIED start-up innovations was also showcased at the event.

Chief Secretary Arun Kumar Mehta, Padma Shri Prof Anil Gupta, Founder GIAN, Prof. Talat Ahmad, Vice Chancellor, University of Kashmir and Prof Shakil Ahmad Ramshoo, Vice Chancellor, IUST, also spoke on the occasion.

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