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Startups a game changer for economic growth in J-&K: LG Sinha

Lieutenant Governor Manoj Sinha today addressed the National Academia-Industrial Conclave at Islamic University of Science and Technology (IUST).

During his visit to IUST, the Lt Governor inaugurated several key infrastructure facilities on the University campus, including the Centre for Innovation & Entrepreneurship Development (CIED), Food Technology Block, SSM Memorial College of Nursing & Medical Technology, and Food Testing Lab.

LG also presided over the signing of several MoUs between IUST and Industry Associations, Businesses, Institutions and the Government.

LG termed the Conclave as a path-breaking initiative to bridge the gap between academia and industry. Collaboration with stakeholders will help in building an enabling environment for innovation to flourish in UT of J-K, the Lt Governor said.

“A strong Academic-Industry collaboration will bring a meaningful change in the private and public sector, besides providing an opportunity to promote innovation, work on new model of IEC – Innovate, Evolve and Commercialize the relevant technology, building new knowledge to meet the needs of the future,” LG Sinha.

LG said that the government is determined to provide incubation and seed funding support to brilliant ideas and solutions.

“Our aim is to build a strong ecosystem for nurturing innovation and Startups in J&K and the synergies between industrial and academic establishments will encourage and empower young innovators and boost private investment in the Startups”, LG said.

LG asked all stakeholders to focus on affordability, sustainability of innovative products, creation of Industry Innovation clusters to encourage young entrepreneurs and drive job creation.

“Under the guidance of Hon’ble Prime Minister, Shri Narendra Modi, India’s Start ups are making their place in the global market. India is now ranked third in the world in terms of innovation and start-ups after the US and China,” LG said.

The Lt Governor entrusted upon the Industry and academic institutions like IUST, Kashmir University, Jammu University, NIT, IIT to encourage the culture of innovation and provide institutionalized handholding to the budding innovators and researchers.

We have turned the red tape into red carpet. Under the guidance of Hon’ble Prime Minister, UT is witnessing unprecedented industrial investment. The impact of industrial growth will soon reflect in other sectors too. Academic-Industry collaboration and initiatives like CIED will provide an opportunity to promote innovation and ensure market linkage, said the Lt Governor.

“I assure the young innovators that if your idea has potential, the government will extend every possible support to transform your ideas into entrepreneurship ventures”, added LG said.

LG also congratulated the IUST for the new Center for Innovation & Entrepreneurship Development (CIED) which aims to accelerate innovation, incubation, entrepreneurship among youth with prime focus on Women Entrepreneurs.

LG also urged the representatives of the Industry and Academia to launch an annual Vice Chancellor’s Innovation Challenge to encourage and reward new ideas.

LG said that the government is sensitive towards the needs and aspirations of the people, especially the youth of J&K.

As many as 16 startups were provided seed capital funding of Rs 5 Lakh each for a period of two years, besides Training and Development programmes were initiated for local food manufacturing, service and agro-industrial units. More than 125 industrial units of the UT are participating in Food Technology training, Digital marketing, leadership development for budding entrepreneurs, it was informed.

LG also interacted with the Innovators who briefed him about their startups developed under the aegis of CIED, IUST. He also handed over sanction letters to Startups and released IUST’s Newsletter.

A documentary on CIED start-up innovations was also showcased at the event.

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