Explanation:

In order to boost entrepreneurial initiative in the Union Territory, Jammu and Kashmir Start-Up Conclave 2023 was held in Srinagar.

It is the initiative of the Department of Industries and Commerce Jammu and Kashmir which has, for the first time organized the first-of-its-kind conclave in collaboration with other stakeholders and start-ups from the UT.

Taking active steps in the direction, the UT Administration has drafted a new Start-Up Policy for Jammu Kashmir which will be notified very soon.

According to the concerned officials, the new policy will provide a roadmap for nurturing innovation, creating jobs, and driving economic growth. It will ensure market access, suitable infrastructure, and all the assistance and help to entrepreneurs in their journey.

Jammu and Kashmir Start-Up Policy will also facilitate the growth of many cutting-edge sectors for Jammu and Kashmir which are still untapped. For the Seed Funding, a one-time assistance of up to Rs 20 lakhs in four equal instalments will be provided to start-ups recognized by Jammu and Kashmir administration.