Startup India Policy Of Jammu And Kashmir 

StartupJK is an initiative where the Government of J&K provides a platform for the development of a healthy ecosystem for its youth. It would help the investors to get access to various resources such as Learning and Development Program, Forum for Discussion and Brainstorming and news among the others. There are various benefits for the startups which are discussed in the next paragraph.

BENEFITS

• Provision of Co-Working Space

The government of J&K would provide space for new startups to work with existing startups with facilities such as uninterruptible high-speed internet at a subsidized rate.

• Monthly Allowance

The startups in the state would be able to get access to a monthly allowance of Rs.10,000 for one year provided they have sanction letter from fund grant from State as well as GOI and also it has been recognized as an incubator for a period of 3 months.

• Assistance for Product Research and Marketing

There would be one-time assistance provided to the startup in the form of Rs.10 lakh for product research and marketing of their products in an effective manner.

• Energy Assistance

100% subsidy for power supply and installation of the diesel-run generator would be provided to the recognized startups.

• Tax Benefits

As per the Industrial Policy of 2016, the startups would be entitled to receive tax benefits as well as tax exemptions.

• Reimbursement in International Patent Filling Cost

The startups would be entitled to avail benefit in the cost of international patent filling which would be either 50% of the actual cost or up to Rs.5 lakh whichever is less.

ELIGIBILITY CRITERIA

• There are various eligibility criteria for startup in J&K to avail benefits and these are as follows:
• They are registered since last seven years with the J&K Government
• Its turnover should not exceed more than Rs.25 crore in any financial year
• The entity is not formed by reconstructing or splitting an existing business
• It should not be established as a subsidiary for the existing Indian or International companies
• It is working towards building innovative products using advanced technologies so as to generate high employment generation
• It should include at least 50% of its workforce from the natives of J&K

Click here if you wish to get your Startup recognized under the Startup India Program.