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New startup policy with focus to set up 2,000 startups by 2027 launched in J-K

Economic Times

Economic Times · 1y ago

New startup policy with focus to set up 2,000 startups by 2027 launched in J-K

Jammu and Kashmir Lieutenant Governor (LG) Manoj Sinha has launched a new startup policy aimed at establishing 2,000 startups in the Union Territory by 2027. The policy, titled 'New Jammu & Kashmir Start-up Policy- 2024-27', will provide patent-related assistance, financial aid, mentorship, and registration facilitation to recognized startups. Sinha invited investors from across the country to explore the potential in Jammu and Kashmir and contribute to its growth. The policy also includes provisions for supporting entrepreneurship among students and women, as well as setting up a Rs 250 crore Venture Capital Fund. The Union Territory currently boasts 722 registered startups, with a focus on gender inclusivity.

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Entrepreneurship boost: All you need to know about J&K's new startup policy

Livemint

Livemint · 1y ago

Entrepreneurship boost: All you need to know about J&K's new startup policy

The Jammu and Kashmir administration has approved a new startup policy with the aim of establishing 2,000 new startups in the region by 2027. The policy focuses on providing support to students, women, and entrepreneurs, with assistance from government, private entities, and high-net-worth individuals. A Venture Capital Fund of INR 250 crore will be created to invest in recognized startups, and the J&K Entrepreneurship Development Institute will assist with land allotment. Startups will also receive one-time seed funding of up to INR 20 lakh. Monitoring committees will oversee the implementation of the policy.

J&K Unveils New Startup Policy, To Foster 2,000 Startups By 2027

Inc42 · 1y ago

J&K Unveils New Startup Policy, To Foster 2,000 Startups By 2027

The Jammu and Kashmir administration has approved a startup policy aimed at nurturing 2,000 startups in the region by 2027. The government plans to establish a venture capital fund with an initial infusion of INR 25 crore ($3.35 million) and a total outlay of INR 250 crore ($33.5 million). Selected startups will be eligible for one-time seed funding of up to INR 20 lakh ($26,800) through the J&K Entrepreneurship Development Institute. The new policy also aims to attract support from private entities and high-net-worth individuals, and create job opportunities in the region.

Jammu and Kashmir to notify new startup policy by next month, says Lt Gov

IndianStartupNews

IndianStartupNews · 1y ago

Jammu and Kashmir to notify new startup policy by next month, says Lt Gov

The Jammu and Kashmir administration plans to introduce a new Startup Policy by next month, aimed at fostering innovation and economic growth in the region. The policy will focus on untapped sectors and provide seed funding of up to Rs 20 lakh to eligible startups, along with capital grants for incubator and accelerator infrastructure. The administration also intends to collaborate with Startup India, angel investor networks, and premier institutes to create a supportive startup ecosystem in J&K.

New startup policy approved in J&K

Economic Times

Economic Times · 1y ago

New startup policy approved in J&K

The Jammu and Kashmir administration has approved a new startup policy aimed at establishing 2,000 startups in the region by 2027. The policy includes provisions for entrepreneurship facilities for students, women, and support from the government and private investors. The government will also set up a Venture Capital Fund of Rs 250 crore and provide a maximum of Rs 25 crore as an initial fund. The policy also includes assistance for seed funding and land allotment for startups. The budgetary support for implementing the policy for three years will amount to Rs 39.60 crore.

Karnataka To Launch Integrated Fintech Programme Soon

Inc42 · 1y ago

Karnataka To Launch Integrated Fintech Programme Soon

The Karnataka government is planning to establish a Centre of Excellence (CoE) for fintech startups, focusing on nurturing talent, leadership, entrepreneurship, and fostering innovation. The state's IT/BT Minister, Priyank Kharge, revealed that Karnataka has 1,300 active fintech startups, with 12 out of 23 fintech unicorns based in Bengaluru. The government aims to create a Fintech Regulatory Support framework to encourage innovation and industry growth. Last year, Karnataka announced plans to invest INR 25 crore in setting up a fintech hub in Mangaluru and launched the Startup Karnataka Policy 2022-2027 to support and strengthen the startup ecosystem.

Startup Policy Forum launched to address concerns of new age companies

Economic Times

Economic Times · 8m ago

Startup Policy Forum launched to address concerns of new age companies

The Startup Policy Forum (SPF) has been established to advocate for the interests of startups in India. The forum, led by Shweta Rajpal Kohli, aims to foster collaboration between founders, policymakers, and regulators in order to address the needs and concerns of new economy companies. The SPF currently has 30 member startups, including industry players such as Razorpay, Swiggy, Practo, and Dream11. It has also set up four specialized councils to focus on fintech, consumer and commerce, emerging tech and AI, and new-age public companies. The forum is a not-for-profit organization and seeks to support startups in scaling domestically and globally.

Number of registered startups in Tamil Nadu tripled in two years, says CM Stalin

Economic Times

Economic Times · 2y ago

Number of registered startups in Tamil Nadu tripled in two years, says CM Stalin

The number of registered startups in Tamil Nadu has tripled within two years under the leadership of Chief Minister M K Stalin's government, reaching 6,800 from 2,300 in March 2021. The growth is attributed to various initiatives aimed at promoting startup development. The state government established the TANSEED fund, providing grants of up to Rs 10 lakh to startups, and set up regional startup hubs in cities like Madurai, Erode, and Tirunelveli to foster growth beyond urban centers.

Elon Musk paying $2,000 a night to stay close to Donald Trump?

Economic Times

Economic Times · 8m ago

Elon Musk paying $2,000 a night to stay close to Donald Trump?

Elon Musk, CEO of Tesla and SpaceX, is poised to have significant influence in the new US government, notably as a key advisor to President-elect Donald J. Trump. Musk is Trump's largest donor, actively shaping policy, personnel, and strategy decisions during the transition. Reports suggest he is staying in Mar-a-Lago at $2,000 a night, reflecting his unique entwining of business, politics, and personal connections to wield influence in the upcoming administration.

Trifecta Capital taps key offshore LP for fourth venture debt fund

VCCircle

VCCircle · 4m ago

Trifecta Capital taps key offshore LP for fourth venture debt fund

Trifecta Capital is in the process of adding a significant offshore limited partner (LP) to its fourth venture debt fund. Known for offering venture debt and equity investments, the Gurugram-based firm launched this flagship fund the previous year. It aims to raise up to Rs 2,000 crore, continuing its focus on supporting startups with financial resources and sustaining its growth trajectory in the venture capital landscape.

Former WestBridge exec to float own venture capital fund

VCCircle

VCCircle · 1y ago

Former WestBridge exec to float own venture capital fund

Former head of finance and company secretary at private equity firm WestBridge Capital, Ramanathan K, is launching his own venture capital fund. Having previously set up his own boutique financial advisory and services firm after leaving WestBridge, Ramanathan now aims to establish a new VC fund. With significant experience in the industry, Ramanathan seeks to leverage his expertise to support promising startups and fuel innovation.

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