Ever since coming into power, Yogi Adityanath has been looking for opportunities to boost the startup initiative launched by central government. Earlier in April, Uttar Pradesh Chief Minister Yogi Adityanath has directed officials to prepare an elaborate work plan to establish the largest business incubator in the country near Lucknow airport. Later in August he had made a strong pitch for startups and flagged off a “Start-up Bus Yatra” from the scientific convention centre in the state capital.
The proposed incubator will be constructed on a 40-acre space near the Lucknow airport. The incubator will look to support companies registered in Uttar Pradesh.
Commenting on the move, Sanjeev Saran additional chief secretary, IT and electronics said that the state will provide assistance and funding to new businesses and startups. He mentioned,
“UP’s startup policy is better than other states. We give financial assistance of $38.5K (INR 25 lakhs) to startups. We are currently reviewing both the policy as well as funding. In one month, we are hopeful of coming up with a new startup policy.”
The Uttar Pradesh Chief Minister also added that soon the government will launch a dedicated mobile app for startups in the state. He said,
“The government is also going to start a dedicated mobile application for startups.”
The Uttar Pradesh government is currently looking to promote entrepreneurship in the state in an extensive manner. In its efforts to promote entrepreneurship at educational institutes earlier in August 2017 CM Yogi Adityanath said that the state will give about USD 39,000 to universities and leading educational institutions, to encourage students to take up self-employment through startup projects.
As confirmed by Sanjeev Saran, in addition to the current financial support extended by the state government and with the incubator centre coming up at Lucknow, the allocation will go up to about USD 615 million.