J&K To Host Annual Startup Competitions To Foster Entrepreneurship

Srinagar: The Jammu and Kashmir administration will hold start-up competitions every year in order to boost entrepreneurship in the union territory.

According to the Jammu and Kashmir Start-up Policy 2024-27, the annual start-up- competitions will be held within the union territory in which awards will be given to the successful start-ups for their contribution towards growth of the local start-up ecosystem.

“The competition will be held to encourage, motivate and recognize wellperforming, potential and promising start-ups of Jammu and Kashmir,” the policy document said.

The awards according to the policy will be given in six different categories, which include top three start-ups of the year, top three women start-ups of the year, top three emerging start-ups of the year, top social start-up of the year, top two start-up incubation centre of J&K and top two start-up mentors of J&K.

“Each category from 1 to 5th winners will be awarded a certificate of recognition and cash prize of Rs 50,000 for 1st position and Rs 15,000 for third position every year on National Stra-up day i,e January16,” the document said.

As per the policy, the schools, colleges and universities will also introduce the concept of Student Entrepreneurs in Residence (SER).

“Outstanding students who wish to pursue entrepreneurship can take a break of one year, any time after completing the first academic year, to pursue entrepreneurship full year,” it said.

“An approved scheme by the college/ university would allow the parents to be comfortable and confident. The gap year facility may be given to ensure syllabus continuity at the time of joining back and after an appraisal process by an incubator where the students are attached,” the policy document said.

The policy document suggested the education institutes update their respective curriculums to include a compulsory course on ‘Entrepreneurship Development’.

“This should be an optional subject to inspire students with the aspiration, capacity and inclination towards entrepreneurship,” it said.

“Various nationally and internationally accredited Massive Open Courses (MOOCs) focused on entrepreneurship and gamified entrepreneurship concepts. Courses can be included in the academic curriculum of schools/colleges/ university,” it added.