Funding
CM Yogi Adityanath Sets Up Rs. 1000 Crores Startup Fund
The Chief Minister of Uttar Pradesh, Yogi Adityanath has set up a Rs. 1000 crores startup fund to encourage startup schemes in the State. Making a strong pitch for startups, CM Yogi Adityanath flagged off the Startup Bus Yatra from the scientific convention center in the state capital of Lucknow.
Reiterating his government’s commitment to creating more jobs and helping new business initiatives he said, “Uttar Pradesh is the youngest state of India. The state has (the) maximum number of youth. I want 60,000 youths from 60,000 villages in UP to come up with startups. This will pave (the) way for the development of the state.” He also added that an app along with call centers would also be launched very soon by the Uttar Pradesh Government. The Government will sign a memorandum of understanding (MoU) with the Small Industries Development Bank of India (SIDBI) by September 15th for this purpose. In an effort to harness and promote entrepreneurship at an educational level, the state will also be giving Rs. 25 lakhs to universities and other leading educational systems.
The Startup Bus Yatra aims to provide a platform for all stakeholders to discuss and generate inputs for assisting the government in promoting the entrepreneurial zeal and create awareness about establishing an entrepreneurial ecosystem in UP. The startup bus will visit all district headquarters in 15 cities, reaching out to over 40,000 youth and 400 colleges. CM Yogi Adityanath said the State is also looking to create 7 million jobs in the next five years via government schemes and further added, “India will start up only when UP starts up.”
Uttar Pradesh is the fourth state in India to provide special schemes for the benefit of entrepreneurs in the country. The Telangana, Karnataka and the Kerala governments have launched similar programs to help startups grow. The Karnataka government recently selected 100 startups through their Elevate program, who will receive investment and mentorship for growth.
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