Here - Start-up Kashmir!

36
Adding to this, the now-failed youth entrepreneur
faces social stigma, increased family disapproval
and mounting debt. Ironically, the young
entrepreneur has finally learned much of what he
needed to know about the process of starting a
business. He has gained some useful experience
in the market. The entrepreneur might even have
a viable business model in mind that he wishes
he could go back in time to start over with. Most
young Kashmiris who fail while starting-up a
business are affected by deep depression and low
self-esteem. They are unable and unwilling to try
again. However, a fraction of these failed firsttime
entrepreneurs will be even more determined
to start a business now. He might be driven by
opportunity not necessity. These young people
have caught the entrepreneurial bug and will
likely succeed the second time around. However,
they will face the same start-up challenges they
did before and they will find it even more difficult to get a loan.
Improving the ecosystem for youth start-up entrepreneurs in Kashmir
To start-up and survive, youth entrepreneurs often have to overcome a number of prevailing
barriers and constraints that combine to create
a challenging environment in the Kashmir Valley. Just
Just as the nature of the problem
is multifaceted, the solution
also needs to be an integrated
one.
1. Social/Cultural Legitimacy & Acceptance;
2. Entrepreneurship Education & Training;
3. Business Assistance & Support;
4. Access to Finance; and
5. Administrative and Regulatory Framework.
as the nature of the problem is multifaceted, the solution
also needs to be an integrated one. Our study of
the common challenges and experiences faced by youth
start-up entrepreneurs confirms that the following five
key factors are critical to boosting youth entrepreneurship
in Kashmir:
In the following chapters we take a look at each of these factors and how they can specifically
be addressed to improve the youth start-up ecosystem in Kashmir. The SKYE Baseline
Survey asked youth to rank possible measures that could improve entrepreneurship in
Kashmir. The results were as follows:
1. Improved entrepreneurial education and training
2. Increased cultural and social acceptance of entrepreneurship
3. Easy access to finance – loans and start-up capital
4. Better business development services
5. More supportive administrative and regulatory framework
While the above ranking is suggestive of what Kashmiri youth feel should be the prioritiza-
Youth Entrepreneurship in Kashmir: Challenges and Opportunities