Srinagar, Jammu and Kashmir Lieutenant Governor Manoj Sinha on Saturday said the Union Territory has immense possibilities for business creation in all sectors and the government is committed to helping young entrepreneurs.

"I believe that startups are a powerful instrument in bridging the gap between universities and industries. Startups have also been able to fulfill two important objectives - employment generation and profit generation," Sinha said at the National Seminar on the " Role of new companies for academic purposes. in Developing Economy of J&K UT (RASE 2024)' held at NIT Srinagar.

The Lt. Governor encouraged the students to set action-oriented goals to turn their entrepreneurial dream into reality and contribute to the socio-economic transformation and growth of the nation.

"My message to future entrepreneurs is to focus on 'problem first' and not 'product first' so that your ideas can accelerate the process of 'Viksit Bharat' and also encourage entrepreneurship among young students," He said.

The Lt Governor also highlighted the potential of academia-driven startups to transform J&K's economy by fostering a culture of innovation and entrepreneurship in educational institutions.

He mentioned the administration's key initiatives such as J&K Startup Policy and Holistic Agriculture Development Program (HADP), which have the potential to transform startups and the entrepreneurial ecosystem, especially in rural areas. of the Union Territory.

There are immense possibilities for startups in tourism, healthcare, logistics, handloom, handicrafts, horticulture, agriculture and allied sectors. "Under the leadership of Prime Minister Narendra Modi, we are committed to providing necessary support and support to young entrepreneurs in both the tech and non-tech sectors," he said.

He further said that the nationwide seminar will encourage universities and colleges to invest in the future and nurture talents for impactful innovations.

The Lt. Governor also emphasized the need to provide high-quality technical and vocational education and training to future entrepreneurs.

Two other important objectives of the startups are to develop and transfer new technology for social transformation and create a broad talent pool as per the industry needs, Sinha added.

He called for greater collaboration between academia, industry and policy makers to develop a vibrant entrepreneurial ecosystem in Jammu and Kashmir.

The two-day national seminar is organized by National Institute of Technology Srinagar in association with Department of Holistic Education, Central University of Kashmir, Department of Science and Technology ICAR CITH and SKUAST-Kashmir.