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JAMMU, Nov 8: Lieutenant Governor Manoj Sinha inaugurated ‘Igniter’, biggest Start-Up festival of J&K UT at the University of Jammu, today.

The mega event was organised by Jammu University in collaboration with J&K Start-Up Association, J&K Bank, J&K Rural Livelihood Mission, Mission Youth, Departments of Tourism, Science and technology, and Skill Development.

In his address, Sinha congratulated the organizers and the participants of the mega event that brought together various stakeholders and investors on one platform. He observed that University and college campuses are known as liquid platform of ideas and the best we can do is to create an environment so that great ideas can be realized.

“I strongly believe Start-Ups reflect the force shaping economy in the networked age”, he said.

The Lt Governor said for an ideal entrepreneurial climate, it is important to provide facilities like cross-campus collaboration, dedicated work space, mentorship programs, industry collaboration and vehicles for innovation. Such enabling environment and challenges will ignite new innovations and solutions, he said.

“A great idea will always survive in the long run, if the entrepreneur takes into account the changes happening in the world in terms of market, customer preference, technology and timely execution of business plan. Competition for ideas and execution must start from the campus," he added.

The Lt Governor said that by unleashing the creativity of the students and budding entrepreneurs, “we will be able to ensure high growth rate and direct benefits for Jammu Kashmir and the nation in terms of knowledge products and Intellectual property”.
He reiterated the commitment of UT Administration to create a start-up ecosystem and to provide access to capital and other resources, fostering innovation and entrepreneurship, and networking opportunities with other Start- Ups and investors.

At the mega event to promote start-up ecosystems in J&K, Sinha Governor highlighted the examples of successful start-up ventures from across the world. He also addressed some common myths regarding the new startups.

The Start-Ups and Unicorns have seen an increase since 2014. Under the guidance of Prime Minister Narendra Modi, the Vocal for Local movement has given a huge opportunity to entrepreneurs to realize their potential in the inter-linked world, the Lt Governor said.

There is a huge potential for Start-Ups in Tourism, Health, Logistics, Handloom, Handicraft, Horticulture, Agro-based Start-Ups, and IT enabled services in J&K, he added.

The Lt Governor directed J&K Bank to provide support and financial assistance to Start-Ups and incentivize the successful Start-Ups.

The MoUs were signed between Jammu University and stakeholders viz. JK Bank, J&K Start Up Association, Department of Science and Technology, J&K, Department of Skill Development for collaboration and knowledge sharing.

Sinha released National Innovation and Start-Up Policy (NISP) of Skill Incubation Innovation Entrepreneurship Development Centre, University of Jammu and launched five other important initiatives to strengthen the ecosystem of Start-Ups. He also inaugurated One MW Grid Connected Rooftop Solar Power Plant installed at University of Jammu.

Umesh Rai, Vice- Chancellor, University of Jammu gave a detailed overview of the event and highlighted the key initiatives of the University.

Rajinder Sharma, Mayor, JMC; Rajeev Rai Bhatnagar, Advisor to Lt Governor; Saurabh Bhagat, Commissioner/Secretary, Skill Development Department; Sudhir Gupta, Executive Director, J&K Bank; other dignitaries, guests from across the country, students and stakeholders were present.

JAMMU, Oct 30: In collaboration with J&K Rural Livelihood Mission, Directorate of Tourism, Jammu, J&K Bank and J&K Startup Association, University of Jammu is going to host Igniter Startup Fest on November 8, 2023.

During the Fest, five Start-ups will be launched and Lt Governor Manoj Sinha, who is also Chancellor of the University, will be the chief guest on the occasion.

This was informed by JU Vice-Chancellor Prof Umesh Rai, while addressing a press conference on the campus, here today. He was accompanied by Prof Naresh Padha, Convenor, Core Committee, Igniter 23; Indu Kanwal Chib, Mission Director, J&K Rural Livelihood Mission; Rajesh Dubey, Zonal Head, Jammu, J&K Bank; Sunaina Mehta, Joint Director, Directorate of Tourism, Jammu; Prof Monika Chadha, Convenor, Press & Publicity Committee, Ayush Mahajan, J&K Startup Association and Dr Vinay Thusoo, member, Press & Publicity Committee.

The Government has sanctioned more than Rs. 4 crores to promote entrepreneurship and start up culture in the University of Jammu. In the light of this, the Start-up Policy of the University would be released during Igniter- 23," he said and added that about 150 Start-ups with the help of various departments like JK Tourism, J&K Bank will be initiated in the coming year of which 5 Start-ups will be launched by the Lt Governor during Igniter-23," he explained.

The Vice-Chancellor further informed that during Igniter-23, a MoU will be signed with the J&K Bank wherein the bank would finance the start ups in the University.

Indu Kanwal Chib, while addressing the media, hoped that Igniter -23 can boost the concept of innovations and Start-up culture in the region.

Rajesh Dubey said that J&K Bank readily finances the Government schemes to promote economic growth in the region. Sunaina Mehta said that the Directorate of Tourism Jammu has initiated different endeavors to engage youth to promote offbeat tourist destinations. Ayush Mahajan from J&K Start up Association, spoke about the role of his association bringing together academia and Government, to create opportunities for economic growth so that J&K becomes a hub for boosting new entrepreneurial ventures.