UP is becoming the startup hub of the country

Lucknow. ‘India has become the startup hub of the world’, Prime Minister Narendra Modi claimed at the 54th convocation of IIT Kanpur on Tuesday. Regarding which it is now being said that Uttar Pradesh has an important role in making India the startup of the world, because out of more than 75 unicorns and more than 50 thousand startups established in the country, many major unicorns and startups are established in Uttar Pradesh. Among them are unicorns like Paytm and Pin Labs. Since the introduction of the state’s new startup policy, startups have increased 20 times in UP and thousands of people have got employment in them. Overall, Uttar Pradesh is now becoming the new startup hub of the country.

This is possible due to the roadmap prepared by Chief Minister Yogi Adityanath to provide employment to the people in the state. As soon as he took over the power of the state, Chief Minister Yogi Adityanath organized the Investor Summit to provide employment to the people and formulated many new industrial policies to promote industrial investment. In this sequence, giving direction to the possibilities of employment generation in the state on a large scale, the New Startup Policy-2020 was approved. UP A new Startup Policy was prepared by completely replacing the Information Technology and Startup Policy-2017. In this policy, with emphasis on setting up new startups, the government announced several concessions to the youth setting up new startups. The new startup of UP was taken up by the young businessmen and on seeing this more than 3800 startups were established in the state, whereas before the year 2017 only 200 startups were established in the state. Seeing the youth taking interest in setting up startups in UP, the state government decided to set up 100 new incubator centers and 10,000 new startups. Emphasis was to be given on developing new startup companies through these incubator centers by providing management training or other necessary services.

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According to the officials of the Industrial Development Department, in order to link the startup of the pharma industry with the startup policy, in October last, the state government has approved the Uttar Pradesh Startup Policy-2021 by amending the Startup Policy-2020. In this policy, it was decided to give capital subsidy on investment of plant, machinery. This subsidy will be 15 percent of the total investment amount and can be up to a maximum of Rs 200 crore. With this, it was announced to give various concessions on the establishment of every pharma park. This policy will encourage startups established in the field of medicine using the Startup Fund established in the Uttar Pradesh Startup Policy-2020. At present, the new startup policy of UP is being liked by the young businessmen, due to which more than 1500 startups have been established in Noida. While 600 startups have been established in Ghaziabad, 575 in Lucknow and around 1800 in the districts of Bundelkhand and Purvanchal region. People are getting employment in new startups established in information technology and generated services sector, education, health, agriculture, textile and other important sectors. More than 50,000 people have got employment in the startups established in the state. At present, the new Startup Policy is promoting an efficient business environment in UP. Startups established in various sectors of medicine and health, agriculture, khadi, energy, education, transport, tourism etc. are giving new direction to UP. UP is joining the states providing maximum employment through startups. Due to all this, startups established in the state are playing an important role in making the country a startup hub.

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