Srinagar-J&K Bank and Shri Mata Vaishno Devi University Technology Business Incubation Centre (SMVDU-TBIC) signed a Memorandum of Understanding (MoU) to provide early stage funding to potential start ups under the “J&K Bank Finance Scheme for Start Ups”. This would also create one stop platform to access various schemes available with J&K Bank to promote entrepreneurship in the state of Jammu and Kashmir.
The MoU was signed at the SMVDU in presence of the Vice Chancellor Sanjeev Jain by J&K Bank Vice President Rakesh Gandotra and Interim CEO, SMVDU TBIC Dr. Swarkar Sharma.
He said through this MoU Bank has reaffirmed its commitment for strengthening Innovation and Entrepreneurial Ecosystem in the state as per the vision of the Chairman. This move he added is aimed to leverage stimulation of independent thinking and innovative ideas by talented youth from SMVDU committed to creating employment and strong business opportunities through path breaking ideas.
Earlier this year, with the same focus on future generation in state of J&K, the Bank launched “J&K Bank Finance Scheme for Start Ups” to harness the entrepreneurial drive of talented youth. Early finance to Start Ups will play a significant move in retaining the best ideas and protecting the flight of capital away from the state.
Later the J&K Bank team visited the SMVDU-TBIC office and met the Staff of SMVDU-TBIC. Ms. Nikita Jain, Manager SMVDU-TBIC appraised the team about various achievements of SMVDU – TBIC and introduced them to various SMVDU-TBIC incubated startups. The team was informed that for the facilitation of all, SMVDU-TBIC has kept its online application portal open 24×7 at www.smvdutbic.orgas it received preliminary applications throughout the year.