J&K to come up with new policy to ‘facilitate 300 startups in five years’

Srinagar: The J&Okay management will quickly announce a brand new amended startup coverage that can facilitate no less than 300 startups in 5 years.

The brand new startup coverage will take inputs from the insurance policies of states like Karnataka, Gujarat, Uttar Pradesh and Tamil Nadu to make certain that it’s going to lend a hand take on the demanding situations and deal with the worries of the marketplace.

“The brand new coverage might be introduced expectantly in two months. The present coverage introduced in 2018 has some lacunae which we’re addressing within the new coverage. It’s entrepreneur-friendly and can facilitate 300 startups in 5 years,” stated Ajaz Ahmad Bhat, director, Entrepreneur Building Institute. He was once talking right through a Startup Mentorship Program in Srinagar.

Bhat stated that beneath the brand new coverage, ₹100 crore might be to be had for startups and a one-time fortify of ₹10 lakh may well be given to any possible startup.

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