Jammu, Aug 19 (KNN) FICCI FLO Jammu Kashmir Ladakh, and Scheam India have collaborated to launch a pioneering startup stage investment program – ‘Uday: Nayi Ummeedon Ki Shuruaat.’

This partnership intends to foster innovation and entrepreneurship in the UT. 

The memorandum was signed by Varuna Anand, Chairperson of FICCI FLO JKL, and Nikhil Gowda Kedambadi fr0m Scheam India in presence of core team of FICCI FLO JKL.

Briefing media persons after signing the memorandum here today, Varuna Anand highlighted the vision behind this innovative startup stage investment initiative, aimed at nurturing and cultivating talent within the regions of Jammu, Kashmir, and Ladakh. 

She underscored that ‘Uday’ seeks to invigorate the startup ecosystem by identifying and supporting young individuals with exceptional ideas, empowering them to translate their concepts into successful ventures. 

This, in turn, contributes to talent discovery and the strengthening of the economies of Jammu, Kashmir, and Ladakh.

Elaborating further, Varuna Anand shared that the ‘Uday’ Start-up Stage Investment Program is meticulously crafted to identify and nurture talented youth with groundbreaking startup ideas. 

The program entails offering financial support to selected students whose ideas exhibit the potential for growth and success. 

By investing in these aspiring entrepreneurs, the initiative aims to cultivate a thriving startup culture in the region, while also championing gender inclusivity within the startup landscape, she said.

Varuna Anand emphasized that the investment program is structured to cater to two distinct categories based on age: students falling within the range of Class 9 to Class 12, and students pursuing undergraduate studies. 

The primary focus of ‘Uday’ is to engage and nurture young entrepreneurs, equipping them with essential resources, mentorship, and financial backing to refine their innovative concepts. 

This strategic approach aims to inculcate an entrepreneurial mindset fr0m an early age, fostering a culture of creativity, problem-solving, and sustainable economic growth within the targeted regions, she added.

Varuna Anand further stated that ‘Uday’ aligns seamlessly with the overarching objective of not only creating job seekers but also job creators. By nurturing startups and facilitating the establishment of new enterprises, ‘Uday’ plays a pivotal role in generating employment opportunities for local residents, effectively addressing unemployment challenges, and propelling economic advancement in Jammu, Kashmir, and Ladakh, she said.

Varuna Anand said the comprehensive ecosystem envisioned by ‘Uday’ encompasses strategic investments, mentorship initiatives, network access, and capacity-building programs, all geared towards supporting startup founders at every stage of their entrepreneurial journey. By providing a fertile platform for innovative ideas to flourish, ‘Uday’ assumes a crucial role in shaping a sustainable and thriving startup ecosystem in the specified regions, she concluded.

Among those who were present in the press conference included Ruchika Gupta, Aarti Chowdhary, Sona Mehta, Pooja Gandotra and Mona Saraf.  (KNN Bureau)