Startups reflect force shaping economy in the networked age: LG Sinha

Jammu and Kashmir Lieutenant Governor Manoj Sinha on Wednesday reiterated that the administration is committed to creating a start-up ecosystem and ready to provide access to capital and other resources to start-ups and investors.

LG inaugurated 'Igniter' start-up festival of J&K organised by Jammu University in collaboration with J&K start-up association, Tourism department, J&K Bank and J&K Rural Livelihood Mission.

The mega event has brought together various stakeholders and investors on one platform.

"I strongly believe start-ups reflect the force shaping the economy in the networked age. University and college campuses are known as a liquid platform of ideas and the best we can do is to create an environment so that great ideas can be realized", Sinha said while addressing the function here.

LG said that the administration is committed to creating a start-up ecosystem and is ready to provide access to capital and other resources, fostering innovation and entrepreneurship, and networking opportunities with other start-ups and investors.

"For an ideal entrepreneurial climate, it is important to provide facilities like cross-campus collaboration, dedicated work space, mentorship programs,industry collaboration & vehicles for innovation", he said.

He said that such an enabling environment and challenges will ignite new innovations and solutions.

"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", he said adding that competition for ideas and execution must start from the campus.

LG 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.