SRINAGAR, July 23: Chief Minister Omar Abdullah on Thursday reaffirmed the Jammu and Kashmir Government’s commitment to building a strong startup ecosystem, urging young entrepreneurs to embrace failure as a stepping stone to success and never hesitate to pursue innovative ideas.
Addressing the inaugural session of ASCEND J&K 2026 – Startup Ecosystem Summit at the Sher-i-Kashmir International Conference Centre (SKICC) in Srinagar, Omar said the initiative has been designed to help aspiring entrepreneurs transform ideas into successful businesses through mentorship, funding, networking and policy support.
Emphasising that failure is an integral part of innovation, the Chief Minister said setbacks should be treated as valuable learning experiences rather than reasons to give up.
Recalling inventor Thomas Edison’s journey in developing the light bulb, Omar said Edison never considered himself a failure but believed he had simply discovered thousands of methods that did not work.
“There is only one thing we should be afraid of—not trying. Every failure is a lesson that takes us one step closer to success,” he said.
The Chief Minister said ASCEND J&K 2026 aims to create a platform where innovation, investment, government policy and market opportunities come together, enabling entrepreneurs to take ideas from concept to commercial success in Jammu and Kashmir, across India and beyond.
Sharing his interactions with young innovators, Omar said he was encouraged by the practical solutions being developed to address everyday challenges in the region.
He highlighted several innovations showcased at the summit, including a sensor-based system to prevent water pipes from freezing during winter, digitally connected water meters to promote efficient water use, hailstorm protection nets, carbon monoxide detection systems and automatic gas regulator safety devices.
“These are practical solutions developed by youngsters who have identified real problems and are trying to innovate meaningful solutions. No idea is a bad idea. Every idea has potential and only needs to be refined, nurtured and supported,” he said.
The Chief Minister also cited the example of a local solar energy entrepreneur, saying that timely institutional support could help innovators from Jammu and Kashmir compete successfully on the global stage.
Assuring entrepreneurs of the government’s support, Omar said the administration is prepared to move beyond its traditionally risk-averse approach to encourage innovation.
“Governments are generally risk-averse and prefer investing where success is guaranteed. But startups require a different mindset. If we support ten startups, perhaps eight may not succeed, but the success of the remaining two can more than compensate for those failures,” he said.
“We are not afraid to fail. The only thing we are afraid of is not providing enough support to all of you,” he added.
Reaffirming his government’s commitment to strengthening the Union Territory’s entrepreneurial ecosystem, Omar said Jammu and Kashmir currently has around 1,300 to 1,400 startups and expressed confidence that the number would double by the time ASCEND 2027 is held.
“We want to look back one day and proudly say that this was where Jammu and Kashmir’s startup journey truly gathered momentum,” he said.
The Chief Minister also invited investors and industry leaders to partner with emerging entrepreneurs from the region, saying their support could help transform promising ideas into successful enterprises that generate employment and contribute to economic growth.
He concluded by thanking entrepreneurs, innovators, mentors, investors and other participants for attending the three-day summit and wished them success in their ventures.
