Schemes & Incentives For Female Entrepreneurs In Ladakh!

Ladakh, the land of majestic mountains and stunning landscapes, has always been a hub of diverse cultures and a significant trading center. With the formation of the Union Territory of Ladakh in 2019, the region has been witnessing a transformative shift towards sustainable development.

The Ladakh Innovation and Startup Policy has set the ball rolling for the growth of the startup ecosystem in the region, with a particular emphasis on sustainable energy. With an average daily global solar radiation as high as 2022 kWh/m2/annum, the region presents enormous opportunities for startups and investors to explore and innovate. The Startup Ranking Framework 2020 has also marked the entry of Ladakh in the startup race. 

In a bid to empower women entrepreneurs in the region, the government has introduced various schemes and incentives. Amongst the most coveted items of trade, Pashmina shawls from Ladakh’s Changthang Valley remain the rarest in the world, making it an ideal destination for women entrepreneurs to showcase their skills and make a mark in the entrepreneurial world.

Scroll down to know the startup schemes and incentives for women in Ladakh!

Special cell – National Commission for Women (NCW)

The Ladakh and Jammu & Kashmir Union Territories have taken a significant step towards the empowerment of women entrepreneurs with the announcement of a separate cell in the National Commission for Women (NCW) in March 2021. This move aims to create a dedicated platform to address the issues and challenges faced by women entrepreneurs in the region. In another noteworthy initiative, Ladakh became the launchpad for the first-ever online training program, "Empowering Women through Entrepreneurship," a few days ahead of International Women's Day 2021. The program was a collaboration between the NCW, IIM Bangalore, and India SME Forum, aimed at providing online training to 5000 women entrepreneurs across the country. Rekha Sharma, the Chairperson of NCW, chose Ladakh for this program to involve women in the region's progressive development journey. This scheme is a crucial step towards the creation of a conducive ecosystem for women entrepreneurs in Ladakh.

You may also watch the story of this inspiring female entrepreneur from Ladakh: Shepreneur Shatki: Sustainable Pashmina Startup From Ladakh To Global

Ladakh's Startup Policy: Fostering Innovation and Entrepreneurship

The Ladakh Union Territory's Startup Policy is aimed at providing a conducive ecosystem for startups to flourish. Under this policy, startups in Ladakh can avail a wide range of financial and non-financial incentives provided by the government, including financial incentives, capacity development incentives, academic connection, and infrastructure support. The financial incentives include provisions like a monthly allowance of up to INR 15,000 for a year to DPIIT-recognized startups, a monthly allowance of INR 20,000 for a year to startups with women/transgender or SC/ST/SEBC/PH founders/co-founders, provision of up to INR 3 lakh for DPIIT-recognized startups operating in Ladakh at the Minimum Viable Product (MVP) stage, and marketing expenses of up to INR 3 lakh, among others. The policy also provides for free incubation or co-working support of up to INR 1 lakh per year and 50% patent cost reimbursement for startups up to INR 5 lakh. Startups in Ladakh can also avail of a 100% subsidy on the purchase and installation of green energy solutions like solar/wind generators and hybrid solar wind systems.

The Ladakh Startup Policy aims to foster a culture of innovation and entrepreneurship, with a focus on engaging aspiring students and rural entrepreneurs. It not only assesses the total number of registered startups in each state/UT, which is a direct result of the support provided by the government but also evaluates the regulatory reforms undertaken to support startups in disruptive sectors. This Reform Area also assesses the extent to which higher educational institutes (HEIs) have been involved in providing support to student entrepreneurs. The Ladakh Startup Policy is a significant step towards the growth and development of the startup ecosystem in the region.

You may also read about the amazing startups operating from Ladakh here: Made In Ladakh: Know The Amazing Startups That Are Building This Brand

Entrepreneurship Awareness Program

Ladakh's Entrepreneurship Development Cell (EDC) has been actively organizing various awareness programs to encourage and educate aspiring entrepreneurs. One such program is the Entrepreneurship Awareness Program, which was held by the Directorate of Industries and Commerce (DIC) in September 2022 for the students of National Institute of Electronics and Information Technology (NIELIT) and ITI.

The main goal of the program was to give students a comprehensive understanding of the entrepreneurial landscape and its various aspects. The program discussed various financial assistance schemes such as Pradhan Mantri Formalisation of Micro food processing Enterprises (PMFME) and Prime Minister's Employment Generation Programme (PMEGP) offered by the Government of India, which are made available by the DIC, and other handholding programs.

The Chief Guest of the event, Joint Director of the Handloom and Handicraft Department, Lakshay Singhal, emphasized the importance of understanding the concept of fund multiplication for becoming a successful entrepreneur. He also encouraged aspirants to make the most of the opportunities provided by the government in terms of skill development programs and financial assistance schemes.

Industries Dept of Ladakh 

In a bid to develop trainee artisans into successful entrepreneurs, the Industries Department in Ladakh has announced several assistance schemes. This was revealed on December 7, 2022, during an event where the Commissioner/Secretary, Industries, Ladakh, Saugat Biswas, reviewed the operations of the Handloom and Handicraft Departments in Kargil. The Department provides training to artisans in both Ladakh and Kargil. Biswas interacted with trainers and trainees from these departments and closely examined their work progress and output. He emphasized the Key Performance Indicator (KPI) of both departments, stating that they would make determined efforts to achieve their set goals.