India: Jammu and Kashmir Startup receives funding at Shark Tank

FastBeetle, a courier delivery service startup owned by Sheikh Shamiullah and Abdul Rashid, has become the first business based in Jammu and Kashmir to get funded by the popular reality television show Shark Tank India.

FastBeetle, a courier delivery service startup owned by Sheikh Shamiullah and Abdul Rashid, has become the first business based in Jammu and Kashmir to get funded by the popular reality television show Shark Tank India. The entrepreneurs received funding of 90 Lakh from the founders or “sharks” who judge the business’s potential and invest in the people.

Notably, the founders discovered the reality show when they saw an advertisement on the social media platform LinkedIn. The success of the Kashmir-based entrepreneurs will open doors for several other budding people with business acumen. Shark Tank India is a reality television show which helps entrepreneurs coming from various parts of the country showcase their startups and get a chance to receive funding from seasoned masters and experts in the business world

Advertisement

The startup, FastBeetle started in 2019. Shortly after the start of their business, the Pandemic struck. During the Pandemic, the startup founders shared that they paid the employees’ salaries by dipping into their savings.

The funding they have received from the reality Television show would support the growth of their business. Before they started their own courier delivery business, Shamiullah worked for an E-commerce Company which delivered products all over India. The founder believed that the same could prove to be a good addition to the economy of Kashmir, which prompted them to start their own business.

The founders hope that since they have received a good amount of funding and investment for their business, it will encourage people in the Jammu and Kashmir region to start their businesses. The government officials of the union territory insist that there is a boom in local startups in the state.

In line with this, the government of Jammu and Kashmir is working on a J&K Startup Policy 2023-28. During the five-year term, the government plans to facilitate 3,000 startups in the region. This will help boost the employment opportunities for the local population, create jobs and boost the economy of the Union Territory.

Latest articles

Cameroon: Buea University student commits suicide due to heartbreak

Leki Precious, a final-year student at the university of Buea in Cameroon, committed suicide after her boyfriend ended their relationship.

Amnesty International hosts Instagram session on gender violence

Amnesty International is hosting an interactive session on Instagram on Combating Online Gender-Based Violence. The session will take place on Saturday, March 25.

Dominica: PM Roosevelt Skerrit shares update on Housing project in Scotts Head

The Prime Minister of the Commonwealth of Dominica, Dr Roosevelt Skerrit, shared a critical and exclusive update about the construction of the housing project in Scotts Head community The Prime Minister asserted that his government is forging ahead with the construction of housing units in several communities across the country.

Land of Hope rescues Peter from torturous family

Land of Hope- The Non-Government Organization rescues children accused of being witches and saves them from being tortured and abused by their families in the name of superstitions recently shared the story of their newest rescue, Peter.

Related articles