To create employment opportunities and to encourage entrepreneurs to establish new ventures, the Uttar Pradesh government has approved a startup policy, the Uttar Pradesh Startup Policy 2020.
The startup policy is aimed at creating direct employment opportunities for 50,000 people and indirect employment for one lakh people in the state.
Under the policy, the Uttar Pradesh government aims at developing an ecosystem to set up at least 10,000 startups, and setting up 100 incubators in Uttar Pradesh, with at least one incubator in every district.
With no such policy like this in the state before, the Yogi Adityanath led government also aims at bringing Uttar Pradesh among the top three Indian states in the startup sector and setting up India’s biggest startup incubator in Lucknow.
As per the issued statement, the startup policy would be valid for five years from the date of notification and any change in the startup policy would be done with the approval of the chief minister.