Startup Policy-2020: Lucknow to have country’s largest incubator

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UP targets to set up 100 incubators in the state.

Currently over 2,850 start-up units are functioning in the state.

Lucknow, October 12: Uttar Pradesh Start-up policy announced by Uttar Pradesh government for the purpose of promoting incubators and start-up units for all industries – Under 2020, a favourable ecosystem is being prepared for the establishment of at least 10,000 start ups in the state.

As per the new start-up policy, it has been targeted to establish at least 100 incubators in the state and at least one incubator in each district, including the establishment of the country’s largest incubator in the state capital Lucknow.

Additional Chief Secretary ITI and Electronics Alok Kumar said that 18 incubators have been employed after getting approval by the state government to promote start-up culture and encourage entrepreneurship in the state.

“At present, more than 2,850 start-up units are functioning in the state and their number is increasing continuously. Incubators are proposed to be set up in all the divisions of the state,” added Kumar.

Additional Chief Secretary informed that a start-up fund of Rs 1,000 crore has been set up by the government to finance start-up units.

A check for the first instalment amount of Rs 15 crore has also been made available by the Chief Minister to the Chairman-cum-Manager, SIDBI on May 20 to provide financial assistance to the start-ups to be established in the state.

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