Startups booming in Jammu and Kashmir

 Jazzbaat 24 News Network 

The growth of entrepreneurs and industry is key to the development of a nation. The Startup policy of Government of India has been an important milestone in this regard. 

Jammu and Kashmir Startup setup has also boomed over the years. 

As a matter of fact, by definition startup is a newly established business designed for rapid growth, often focused on innovation and scalability, typically operating in the early stages of its development. 

India, a startup is generally defined as a private limited company, partnership firm, or limited liability partnership that is working towards innovation, development, or improvement of products, services, or processes, and has the potential for employment generation or wealth creation. 

It is a proud facet Indian government has several initiatives under the Startup India program to foster a supportive ecosystem for startups. This includes financial assistance, tax benefits, and simplified regulations aimed at promoting innovation and job creation. 

Here's a breakdown of key aspects.

It is worth pointing out here that Startup India Initiative was Launched on January 16, 2016, to build a strong ecosystem for nurturing innovation and startups. 

The startup industry in J&K has witnessed remarkable growth over the past five years. Official data shows it has recorded a 287% surge in DPIIT-registered startups since 2020. Following the abrogation of Article 370 in 2019, the number of startups grew from 237 in 2020 to 917 in 2024, including 333 women-led ventures. Additionally, 3,476 enterprises have been supported under the Start-up Village Entrepreneurship Programme (SVEP) in J&K.

The hope on ground zero is that Startup culture in Jammu and Kashmir would continue to boom.