Under its Start-up Kashmir Youth Entrepreneur (SKYE) Development project, international humanitarian and developmental Non Government Omrganisation(NGO), Mercy Corps, has helped more than 100 youth established their start-ups across Kashmir Valley. A press statement of the NGO claimed on Monday.
It said that these youth availed Youth Start-up Loan Scheme (YSLS) and Seed Capital Fund Scheme of J&K Government at J&K Entrepreneurship Development Institute.
“While 45 youth have already been financed under YSLS and have received their first loan installments, those financed under Seed Capital Fund Scheme are under process,” the statement said adding a number of the youth self-financed their businesses after undergoing the counselling and training sessions.
Mercy Corps held boot camps, counselling and training sessions for these youth. It provided business development support to over 100 start-ups in urban as well as in the rural areas in sectors such as Agri-business, IT Services and Manufacturing.
The project team at Mercy Corps along with the officials of JKEDI visited a number of start-up units and expressed satisfaction over the progress made by these youth in their start-ups.
“We are thankful to Mercy Corps for making us realise our dreams,” said Muhammad Shafi Dar, in the statement who has started his business in IT sector in North Kashmir’s Kupwara district. “I received my first loan installment and have set-up an office. I will soon receive the rest of the loan amount,” Shafi has been quoted to have said.
Another beneficiary Zahoor Khaliq quoted in the statement said, “Mercy Corps provided the counselling and the training sessions and equipped us with business skills and knowledge to sustain our start-ups.”
SKYE, a three-year project which aims to reduce poverty and foster economic growth through increased youth entrepreneurship in Kashmir valley, is nearing completion.