The Jammu & Kashmir (J&K) state administrative council (SAC) recently approved the ‘J&K Start-up Policy 2018’ to inspire young brains to pursue innovation and entrepreneurship, empower start-ups and generate employment opportunities. The council met in state capital Srinagar on September 12 under the chairmanship of state governor Satya Pal Malik.

The policy will be valid for 10 years or till a new policy is framed. The policy will focus on start-ups that can value add in food processing and allied activities, agriculture, textiles, apparel and fashion technology, renewable energy, handicrafts and handlooms, electronics system design and manufacturing, and information technology-enabled services, according to media reports in Kashmir.

The policy will help establish at least 10 new incubators, innovation labs and fabrication labs across its three regions.

Benefits for start-ups include energy assistance, cost reimbursement for international patent filing, tax benefits and relaxation in public procurement processes.

Other proposals include creation of an innovation/skill development fund, establishment of a Jammu and Kashmir Angel Network (JKAN), academic interventions and awareness and outreach activities. (DS)

Fibre2Fashion News Desk – India

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