Srinagar, July 16, 2025: In a transformative step to bolster the startup ecosystem in Jammu and Kashmir, the Greenovator Incubation Foundation (GIF), based at the National Institute of Technology (NIT) Srinagar, has signed a Memorandum of Understanding (MoU) with Startup Kashmir Consultancy Pvt. Ltd. to deliver structured innovation and entrepreneurship programs targeting the region’s underserved youth. The agreement, formalized on July 10, 2025, aims to foster sustainable entrepreneurship and drive economic development by empowering young innovators.
The MoU, signed by Shahid Abbas Mir, CEO of GIF, and Shahid Haider Ansari, CEO of Startup Kashmir, in the presence of Prof. M.F. Wani, Director at GIF, and Prof. Rakesh Sehgal, former Director of NIT Srinagar, outlines a one-year collaboration to conduct entrepreneurship workshops, startup bootcamps, and industry-facing innovation events. These initiatives will focus on college students, first-time entrepreneurs, and youth in rural and underserved areas, addressing Jammu and Kashmir’s high youth unemployment rate, which exceeds 20%, significantly above the national average.
The partnership seeks to transform J&K’s startup landscape by providing mentorship, industry networking, and digital outreach to bridge the gap between inspiration and implementation. GIF, a Section 8 company supported by the Department of Science and Technology (DST) under the NIDHI scheme, specializes in green technologies and sustainable innovation, while Startup Kashmir brings expertise in nurturing early-stage businesses. The collaboration will address local challenges in sectors such as agriculture, climate, manufacturing, and community health, with a particular focus on rural entrepreneurship.
“This MoU marks a pivotal moment for J&K’s youth, providing them with the tools, resources, and mentorship needed to turn innovative ideas into viable businesses,” said Shahid Abbas Mir. Shahid Haider Ansari added, “Our goal is to create a vibrant startup ecosystem that empowers underserved communities and drives economic growth.”
The initiative aligns with national programs like Startup India and aims to leverage J&K’s unique potential in tourism, handicrafts, and agri-tech to create sustainable livelihoods. By equipping young entrepreneurs with skills and access to funding opportunities, the partnership seeks to reduce unemployment and foster a culture of innovation-driven entrepreneurship in the Union Territory.