Jammu and Kashmir CM Omar Abdullah during the inauguration ceremony of ASCEND J&K 2026, the Startup Ecosystem Summit, at SKICC in Srinagar.
Jammu and Kashmir on Thursday hosted its biggest start-up ecosystem summit in Srinagar, bringing together angel investors, incubators, entrepreneurs and policymakers from across the country to promote innovation and investment in the union territory.The two-day ASCEND J&K 2026 summit, organised by the Jammu and Kashmir Entrepreneurship Development Institute (JKEDI), was held at the Sher-i-Kashmir International Conference Centre (SKICC) on the banks of Dal Lake.Inaugurating the event, Chief Minister Omar Abdullah said his government was committed to strengthening the startup ecosystem in Jammu and Kashmir and creating an enabling environment for entrepreneurship.Abdullah said governments were often risk-averse and preferred investments with predictable outcomes, but startups required a greater willingness to accept uncertainty.“If we back 10 startups, eight may fail, but the success of the remaining two can more than offset those losses,” Abdullah said.He said the administration was prepared to take that risk and would focus on ensuring entrepreneurs received adequate support rather than avoiding investments because of the possibility of failure.Abdullah said Jammu and Kashmir currently had about 1,300-1,400 start-ups and expressed confidence that the number would double by the time the next edition of ASCEND is held in 2027.turning pointHe said he hoped the summit would eventually be remembered as a turning point in the Union Territory’s start-up ecosystem, marking the beginning of sustained entrepreneurial growth.Abdullah called on investors and industry leaders to work with entrepreneurs in Jammu and Kashmir, saying their expertise and financial backing could help startups grow into successful businesses that create jobs and contribute to the region’s economy.Jammu and Kashmir’s startup ecosystem has expanded steadily in recent years. Official data show that 1,446 start-ups in the Union Territory had been recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) by the end of January 2026.The sector has also received support through the Centre’s Start-up India programme. According to official data, a start-up based in Jammu and Kashmir has attracted ₹50 crore through the government-backed Fund of Funds for Startups, while incubators operating under the Startup India Seed Fund Scheme have approved about ₹2.65 crore in assistance for 14 start-ups. Published on July 23, 2026
