Excitel CEO Vivek Raina and 6 Others Launch 'Launchpad Kashmir' to Boost J&K Startups Launchpad Kashmir plans to invest between INR 20 lakhs to 25 lakhs per startup, targeting to fund and incubate 24 startups by FY '25.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Vivek Raina, Co-founder and CEO of Excitel Broadband, has launched an incubation fund named "Launchpad Kashmir" to enhance the startup ecosystem in Jammu and Kashmir.
Along with six other industry leaders—Muheet Mehraj (Founder of Kashmir Box), Khalid Wani (Sr Director at Western Digital), Namrata Kaul (Director at Vivirti Capital), Kunal Harisinghani (CCO of FlapKap), Ishfaq Mir (Co-founder of Kashmir Box), and Dawood Khan (Principal Engineer)—Vivek aims to support early-stage startups with resources and mentorship.
Launchpad Kashmir plans to invest between INR 20 lakhs to 25 lakhs per startup, targeting to fund and incubate 24 startups by FY '25. The initiative will guide startups from ideation to seed funding, fostering connections with venture capitalists and angel investors.
Vivek Raina, Co-founder and mentor of Launchpad Kashmir and Co-founder and CEO of Excitel, said, "From our interactions with the budding startup community in Jammu and Kashmir, we understood that while these entrepreneurs have immense potential for local businesses and solutions, they face significant challenges in training and mentorship on how to take those ideas or solutions to the national and global level. Therefore, we took it upon ourselves to start this initiative. We look forward to building a larger, sustainable ecosystem that can truly transform startup opportunities in the region."
As per the official release, Launchpad Kashmir is a sector-agnostic initiative designed to provide entrepreneurs with all the necessary support for building and scaling their startups. Which includes space, mentorship, training, and funds for proof of concept.
Namrata Kaul, Founding Member of Launchpad Kashmir, said, "We want to nurture the startup ecosystem and provide incubation and mentoring facilities. The intent is to create a close-knit community of start-up entrepreneurs, academicians, and industry practitioners and provide a space where they can learn from each other, network, and flourish. I feel very excited about this initiative and look forward to seeing it flourish."
