What is Jammu and Kashmir Start-up Policy 2018-2028? How Will it Benefit Start-ups and Small Businesses?

From provisions of convenient financing options to investments in early stage businesses, the policy encourages innovation in the entrepreneurial ecosystem.


Innovation is one of the Key ‘Mantras’ to achieve the goal of ‘Atmanirbhar Bharat’ as envisioned by Prime Minister Narendra Modi. The innovation field, in all the states, is gearing up and various policies, including start-up policy, have been adopted by different states under the guidance of the current government.

The crown state of India, Jammu and Kashmir (J&K) is also very much in focus and is slowly and steadily picking up the pace. 

Meaning of a Start-up

Under Start-up policy 2018, a start-up is defined as any company:

Registered within a period of last seven years

With a yearly turnover of less than Rs 25 Crore

New-spring companies (splitting up or reconstruction of existing business does not fall under the purview)

Not incorporated/registered as a subsidiary of current Indian/foreign company

With a focus on innovation, development or improvement of product/services/processes

Incorporated/registered in J&K with 50 per cent native/intrinsic work-force

With a scalable business model (high employment generation and wealth creation opportunity)

Some Key Benefits of the Start-up Policy

Availability of co-working office Space with uninterrupted high-speed internet at subsidized price

Monthly allowance of Rs 10,000 for a period of one-year for recognised start-ups and Rs 12000 for backward groups, women entrepreneurs and specially-abled section (approval & conditions apply)

One-time the assistance of Rs 10 lakhs for product research and development

As per state industrial 2016-2026 policy, 100 per cent subsidy on purchase and installations of Diesel/Solar/Wind Generators or Hybrid Solar Wind System and uninterrupted power supply

International patent filing cost reimbursement (50 per cent of the actual cost incurred or up-to Rs five lakhs whichever is less)

Tax benefits and exemptions as per the Industrial Policy 2016 and any periodic changes made in the policy

Self-Certification process for Start-up and Micro and Small enterprises under Labour Laws

Corpus fund for training workshops, travel/daily allowance and subsidized stall space. Domestic/International travel to selected start-ups including women entrepreneurs

World-class Infrastructure support by providing Incubators and Fabrication Labs

‘‘

The crown state of India, Jammu and Kashmir (J&K) is also very much in focus and is slowly and steadily picking up the pace.

What’s in It for Me?

With an objective of 500 new start-ups in the next 10 years, the policy ensures that the new and aspiring start-ups and small businesses get investments at an early age and financing on convenient terms i.e. soft loans and collateral-free lending. 

Along with the above listed benefits, the start-ups and small businesses, with a focus on the below mentioned sectors, will benefit a lot under this policy:

Food Processing and allied activities

Agriculture including Horticulture and Floriculture

Textiles & Fashion Technology

Renewable Energy

Handicrafts and Handlooms and their design element

Electronics System Design and Manufacturing

Information Technology-enabled Services

With the J&K start-up policy, all leading start-ups and small business owners get an opportunity to inspire and mentor the youth through the various programmes like Youth Innovation and Exposure Programmer (YIEP) and Mentorship boot-camps. Thus, inspiring and building a capable workforce that can be their working partners and core contributors in the coming years.

Roopali Kotwal
Roopali Kotwal
Roopali is a former author with Dutch Uncles, a subject matter expert with over a decade of experience. She writes on Human Resource Management and Business Operations.

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