Govt committed to support Startups, help them grow: Lt Governor

Srinagar, November 11: Lieutenant Governor Manoj Sinha addressed the ‘Kashmir Expo- Start Up for Livelihood’ Friday at Srinagar.
Speaking on the occasion, the Lt Governor said that there is a greater need to infuse technology and innovation in rural sector which will produce better quality of life and enhance the socio-economic development.
Emphasizing that innovation is about people rather than ideas, the Lt Governor underscored that in order to transform an idea into commercial product, we need to provide right environment and opportunity to innovators and Startups entrepreneurs.
Asserting that the Government is committed to support Startups and help them grow, the Lt Governor said we want to assure aspiring entrepreneurs that all necessary assistance will be provided to make their business dreams a reality.
Incubation centres in J&K’s educational institutions are playing an important role in building and nurturing ideas for Startups, he added.
Under the guidance of Prime Minister Narendra Modi, the ecosystem of innovation, start-ups has been strengthened. In just 8 years, India has established 75,000 startups with 50% of them established in Tier 2 & Tier 3 cities providing direct employment to 4 lakh youth, the Lt Governor said.
We are third in startup ecosystems globally. In last 2 years, 107 unicorns worth more than $340 billion have been established in the country. Today one out of 10 new unicorns in the world, is being established in India, he further added.
Noting that Youth has always been integral part of evolving technology, the Lt Governor observed that the potential ideas and new Startups will contribute not only to economic growth and productive diversification, but also to sustainable and inclusive development.
Technological progress is growing at an exponential rate and the adoption time for commercialized technologies has been considerably reduced. This is having a direct impact on the society and business ecosystem. Whether its businesses or educational institutions, they have to innovate and adopt new technologies to stay relevant in the future, the Lt Governor further emphasized.
In this Amrit Kaal Khand, it is the collective responsibility of all of us to fully support the enterprise and determination of our youth, our entrepreneurs in the making of a self-reliant Jammu and Kashmir, he added.
The Lt Governor complimented the Department of Science and Technology for organizing the three-day “Kashmir Expo – Start up for Livelihood” and congratulated all stakeholders associated with this event.
The Lt Governor appreciated two innovative products- Saffron Sowing Machine and Seed Sowing Machine from NIT Srinagar and stressed on the necessity of having excellent coordination between the industry, academia and society for the success of both the products.
Highlighting the immense potential for startups in rural sector, the Lt Governor said that in the last two-three years, many youths of Jammu Kashmir have implemented impressive ideas such as the apple grading machine, strawberry plucker etc. and successfully used them in agriculture, horticulture sectors.
The Lt Governor further said that 15 youths from each panchayat were provided support for becoming entrepreneurs and 20 youths were given skill development opportunities during the recently concluded Back-to-Village program this month.
Dr Rajesh S. Gokhale, Secretary, Department of Biotechnology highlighted the significance of the Kashmir Expo in providing a platform for the youth to develop their ideas into startups.
Saurabh Bhagat, Commissioner/Secretary to Government, Science & Technology Department, informed that the Department is supporting more than 120 research projects across different Universities and Colleges of J&K. We are also providing scholarships and seed money for nurturing innovation, he added.
Akhilesh Gupta, Senior Adviser, Department of Science and Technology (DST) delivered the welcome address and Dr. Vipin Kumar, Director, National Innovation Foundation presented the Vote of Thanks.
Prof Nilofer Khan, Vice Chancellor, University of Kashmir; Prof. Nazir Ahmad Ganai, Vice-Chancellor, SKUAST-K; Prof Farooq Ahmad Shah, VC, Central University of Kashmir; Prof. Qayyum Hussain, VC, Cluster University Srinagar; Prof. Shakil Ahmad Romshoo, VC, IUST; Pandurang K Pole, Divisional Commissioner Kashmir; Dr Anita Gupta, Advisor & Head NSTEDB, DST; besides students, innovators and prominent citizens were present on the occasion.