JKEDI, Kashmir University sign MoU to promote innovation and startup ecosystem in J&K

Ziraat Times News Desk

Srinagar, June 27: The Jammu & Kashmir Entrepreneurship Development Institute (JKEDI) and the Institute of Technology (IOT), University of Kashmir, Zakura Campus, on Saturday signed a Memorandum of Understanding (MoU) aimed at strengthening entrepreneurship development, innovation, startup incubation and skill-building initiatives in Jammu & Kashmir.

The MoU was signed during a mentorship session organised by JKEDI at its Sempora campus, bringing together industry leaders, technology experts, academicians, startups, students and aspiring entrepreneurs to discuss innovation, entrepreneurship and collaborative growth within the Union Territory’s startup ecosystem.

The programme was attended by JKEDI Director Mohammad Younis Malik, IOT Director Tariq Banday, Assistant Vice President and Head of Franchise Expansion and Portfolio Division at Lenskart, Dr. Mohammad Mutaher Zarger, and Techarc Co-founder and Chief Analyst Faisal Kawoosa, among others.

According to officials, the agreement seeks to enhance institutional collaboration in areas such as startup incubation, mentoring support, capacity building, innovation promotion and entrepreneurship development for students, innovators and aspiring entrepreneurs.

Addressing the gathering, Malik encouraged young people to consider entrepreneurship as a career option and said institutional support and mentorship could help address concerns associated with risk-taking. He noted that while the J&K Startup Policy remains in its early stages, efforts have been initiated to strengthen the region’s startup ecosystem and entrepreneurial culture.

He said further work was required through sustained institutional interventions, outreach programmes, capacity-building measures and continued support for startups and innovators. Malik also highlighted the role of technological advancements in creating new opportunities for entrepreneurs and reiterated JKEDI’s commitment to providing mentorship, incubation and handholding support.

Speaking at the event, Banday stressed the need for continuous upskilling in an increasingly competitive environment. He also highlighted opportunities available under the J&K Startup Policy 2024–27 and urged students, innovators and entrepreneurs to make use of the incentives and support mechanisms provided under the policy.

Sharing his entrepreneurial experience, Dr. Zarger emphasised the importance of perseverance and reinvestment during the early stages of a startup. He explained the concept of “burn” in entrepreneurship, where available resources are reinvested into business growth rather than focusing on immediate returns.

He also outlined the “3-1-Q” approach—three years of research, one year of execution and quarterly quality assessments—as a framework for developing sustainable ventures. Dr. Zarger said businesses increasingly operate in a “phygital” environment that combines physical and digital experiences and advised entrepreneurs to adopt innovation-driven models while engaging with investors and ecosystem stakeholders.

Kawoosa, meanwhile, highlighted the significance of data-driven decision-making and market intelligence in business growth. He said startups should identify their unique selling propositions and use data to understand market trends, customer behaviour and organisational strengths.

The session concluded with an interactive discussion during which startups, students and aspiring entrepreneurs sought guidance from the experts on innovation, market strategies, startup growth and available institutional support mechanisms.