Cabinet approves setting up of Start-up Hubs, Incubators for young entrepreneurs

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By Fast Kashmir on 23/10/2017.

Cabinet approves setting up of Start-up Hubs, Incubators for young entrepreneurs

SRINAGAR, OCTOBER 23: To give a major fillip to the entrepreneurship and innovation and to engage youngsters in the industrial sector, the state cabinet which met here today under the chairpersonship of Chief Minister Mehbooba Mufti approved the scheme for setting up of Start-up Hubs and Incubators in Plug-n-Play model with initial capital infusion of Rs 5 crore through Higher Education institutions.

Under the scheme, an 11 Member State Level Empowered Committee will be setup as a decision making body for establishment of Start-up  Hub,  to periodically monitor the performance of the Start-up Ecosystem and to take decisions about the modifications in the scheme guidelines as may be necessary. 

Start-up Hub will have two parallel Centers, one at EDI Pampore in Kashmir and the other initially in the office of J&K EDI at Udyog Bhawan, Railhead in Jammu to be finally shifted to permanent Campus of the J&K EDI being established at Bari Brahman Jammu.

14 institutions in Jammu and 15 in Kashmir including Ladakh and Kargil have been proposed as Incubators which will function under the platform of a designated Start-up Hub which will function as a Nodal Agency.  

The Nodal Agency will perform a variety of functions like holistic networking for all the Incubators, entrepreneurship development agencies, academic institutions, R&D centers, industrial bodies and associations and funding/financing entities.

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