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UP startup policy aims 100 incubators and 10,000 startups in state

Yogi Adityanath government also aims at setting up India’s biggest startup incubator in Lucknow

NEW DELHI : To encourage entrepreneurs establish new ventures and generaete employment opportunities, the Uttar Pradesh government has approveed a startup policy.

The Yogi Adityanath cabinet on Wednesday gave its nod to the Uttar Pradesh Startup Policy 2020, a statement issued by the state government said. As till now there was no comprehensive startup policy in the state, an independent and comprehensive olicy was required, the government has said.

The startup policy aims at setting up 100 incubators in Uttar Pradesh and at least one in every district, and developing an ecosystem to set up at least 10,000 startups.

The state government said the policy would help in turning the youth from job seekers to job providers.

The Yogi Adityanath government also aims at bringing Uttar Pradesh among the top three states in the startup sector in the country and setting up India’s biggest startup incubator in Lucknow.

According to the statement, the startup policy is expected to create direct employment opportunities for 50,000 people and indirect employment for one lakh people in the state.

The startup policy would be valid for five years from the date of notification, the statement said.

The state government will give special encouragement for estabilishing startups in Purvanchal and Bundelkhand areas.

The Yogi cabinet has also decided that any change in the startup policy would be done with the approval of the chief minister.

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