In a bid to encourage the entrepreneurs in the state, the UP government decides to set up 100 incubators and 1000 startups as part of the plan.
On Wednesday, the UP government has given approval to the UP startup policy 2020. Until now, there is no plan in the state and the need for a solid strategy is essential. This strategy should be independent and comprehensive, according to the government
Under this new startup policy, there will be 100 incubators and 1000 startups in the state. At least one per each district. The government wants a big ecosystem out of this
The government also believes that with this initiative the youth of the state will become job providers from being job seekers. Also, the government of UP wants the state to be among the top 3 states in the country in the startup scene.
The government plans to set up the biggest startup incubator of the country in Lucknow.
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In the statement released by the government, this initiative will provide direct employment opportunities for at least 50,000 people. One lakh more people, indirectly.
This startup policy will be valid for a period of 5 years from the date of notification. The state government also plans to provide special encouragement to establish startups in Purvanchal and Bundelkhand areas
The government also passes the law that any modification in this startup policy will be done only after consulting the Chief Minister, Yogi Adityanath.
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