Uttar Pradesh State launch Startup fund to boost Startup ecosystem

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Posted On : 20th, May 2020


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Uttar Pradesh State launch Startup fund to boost Startup ecosystem

20th, May 2020    -    News

Yogi Adityanath Chief Minister of Uttar Pradesh on Wednesday announced launch of ‘Uttar Pradesh Startup fund’ with Ra 15 Crores as a first installment to SIDBI.


The chief minister said it was important to bring a new startup policy for agriculture, health, education and other important sectors so that the youth can connect with it.


This is big boost for startup ecosystem as it will boost job creation and a memorandum of understanding (MoU) has been signed between the state government and SIDBI with this aim in mind, he added.


This is the very strategic approach by U P State as large number of migrant workers have come to the state at this time and the state government is looking to provide the a job according to the skill.


Adityanath said his government's intention is noble, but along with that, decision-making ability will also have to be speeded up.


He said the new startup policy will motivate more and more youths to launch their own startups.


Under the new package announced by the Government of India for MSMEs, the MSME Department of the state has organised a huge online loan fair and the process of giving loans to entrepreneurs has been completed, the chief minister said.


Deputy Chief Minister Dinesh Sharma said the MoU with SIDBI will speed up the establishment of startups and give a boost to the startup culture.



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