Srinagar, November 1: In a groundbreaking move to enhance access to institutional equity capital for Micro, Small, and Medium Enterprises (MSMEs) and startups in Jammu & Kashmir, the Jammu & Kashmir Entrepreneurship Development Institute (JKEDI) hosted the inaugural “J&K Capital Connect: Investing in J&K MSMEs and Startups through SRI Fund.” This event, held in collaboration with the Ministry of MSME, Government of India, through NSIC Venture Capital Fund Limited (NVCFL), represents a significant milestone under the J&K Startup Policy 2024–27, aiming to establish the UT as a premier startup hub in India.
The Hon’ble Lieutenant Governor of J&K, Shri Manoj Sinha, graced the event as the Chief Guest, underscoring the critical role of equity-based financing in fostering entrepreneurship. He praised the Self Reliant India (SRI) Fund and its Daughter Funds for providing venture capital access to J&K’s MSMEs and startups, highlighting these efforts as vital to achieving the Atmanirbhar Bharat vision.
Shri Vikramjit Singh (IPS), Commissioner Secretary, Industries & Commerce Department, as the Guest of Honour, remarked that the government’s consistent efforts have rejuvenated J&K’s startup ecosystem, and such initiatives will ensure alignment with leading innovation hubs across India.
The event was attended by distinguished dignitaries from the Ministry of MSME and NVCFL, including Ms. Mercy Epao, Joint Secretary, MSME, Dr. Subhranshu Shekhar Acharya, Chairman NVCFL & CMD NSIC; Mr. Sarvana Kumar, CEO NVCFL; and Shri Prem Prabhakar, MD & CEO, SBI Ventures Ltd., and prominent venture capital firms. Alongside Deputy Commissioner Srinagar, Sh Akshay Labroo (IAS), senior officials from the Industries & Commerce Department Sh. Mussarat Islam (JKAS), Director Handicrafts and Handloom Kashmir, Managing Director JKTPO Sh. Sudarshan Kumar Sharma (JKAS), Sh. Atul Sharma, MD J&K SIDCO and other officers and officials were present on the occasion.
The agenda featured comprehensive presentations on the SRI Fund’s structure and investment flow, engaging panel discussions on “Fueling Startup Growth,” “Disruption & Opportunity,” and “Enhancing Market Access,” and inspiring success stories from MSMEs benefiting from equity support. A dedicated pitch session enabled selected J&K startups to present their business models to national-level investors and fund managers.
A total of 24 national venture capital funds, such as IvyCap Ventures, Omnivore Agritech & Climate Sustainability Fund, Chiratae Ventures, Gaja Capital, Greenstone Fund, and Antler Innovation India Fund, participated, demonstrating increasing investor confidence in the region’s startup ecosystem. Over 93 J&K startups engaged in one-on-one networking sessions with the venture funds, fostering valuable investment connections and collaborative opportunities.
Shri Khalid Jahangir (JKAS), Secretary Industries & Commerce Department, and Director, JKEDI in his vote of thanks expressed gratitude to the chief guest Shri Manoj Sinha, Hon’ble Lieutenant Governor J&K for his continuous support to the initiatives promoting innovation and entrepreneurship. He further extended sincere gratitude to the MSME, GoI, Officers from the NSIC National Venture Capital Fund Limited, Commissioner Secretary to the Government Industries and Commerce Department, startups, venture funds and other stakeholders who participated in the futuristic event to infuse life in the entrepreneurial landscape of J&K.
The event successfully ushered in a new era in J&K’s startup journey, connecting local innovators with national capital and solidifying the UT’s status as a promising destination for entrepreneurial growth and venture investments.
