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 Despite lockdown, 773 start-ups in UP began operation

In 2020, seven hundred and seventy-three startups have begun their operation in UP. Despite the prolonged lockdown in the wake of Covid-19, the total number of start-ups has come up in the state in the past three years. The number of startups is almost three thousand four hundred and six in the past three years as per the record. 



About new Start-up Policy-2020

According to the additional chief secretary (IT and Electronics) Alok Kumar, start-ups' development took place despite the Covid-19 pandemic. And he also added that in the current month, under the new start-up policy-2020, several proposals for the establishment of incubators had been approved. In the past two years, seventeen incubators were set up in the UP, and as per the Minister for IT and Electronics Dinesh Sharma, the development of a start-up ecosystem in UP was due to IT and the new Start-up Policy-2020. 

He also said that the government is developing a world-class start-up ecosystem through robust infrastructure and a favourable policy environment. Three state-of-the-art Centres of Excellence were proposed to be set up in Up under the new Start-up Policy 2020. For Start-up registration online, a new portal has been developed, and this online portal allows for online submission of applications, issuance of clearances, and financial incentives. 

The government has constituted an evaluation committee with experts for approval of applications from IIT Kanpur, IIM Lucknow, IIT BHU, the Abdul Kalam University of Technology in Lucknow, and STPI- Lucknow others as its members. For any Start-up registration online, it is required for online submission. The state government has given Rs 41.6 lakh as an incentive in 2020-21. This incentive is to incubators under IT and Start-up Policy-2017. And Rs 41.4 lakh as an additional sum will be disbursed soon by the government. 

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