To fund innovative startups and entrepreneurial ventures through equity root, Jammu and Kashmir Entrepreneurship Development Institute (JKEDI) is working for creation of an angel investor and venture capital fund networks under J&K Startup Policy-2018.
This was disclosed by the director JKEDI MI Parray during a meeting with the office bearers of Bari Brahmna Industrial Association (BBIA) here on Saturday, according to a statement issued by the JKEDI here.
Parray emphasised on infrastructure support and the importance of having a synergic relationship between JKEDI and industrial fraternity of J&K for creation of the investors network namely Jammu & Kashmir Angel Network (JKAN) and Jammu and Kashmir Venture Capital Network (JKVCN).
In the meeting, also a threadbare discussion was conducted with respect to various aspects of the startup policy like incubation facilities, assistance for product research and development, marketing, publicity, funding facilities, energy assistance, and tax benefits etc.
The meeting was held to promote innovation-based startups in the state under the Startup Policy – 2018.
During the meeting it was resolved that there is an urgent need to facilitate creation of innovation-based startups in the state which in today's world are considered as the drivers of economic and social solidity.
JKEDI has been designated as state nodal agency for the implementation of the J&K Startup Policy-2018 which was rolled out in September 2018 by the government.