According to a formal announcement, the Uttar Pradesh Government included measures to support startups in the state’s budget that was unveiled recently. The budget has reportedly included particular measures aimed at encouraging young people’s independence and creating a startup culture.
Under the UP-Startup Policy – 2020, startups are being promoted in a number of sectors, including agriculture, health care, energy, khadi, education, tourism, and transportation.
“There are up to 50 incubators and 7,200 startups operating in the state. An arrangement for Rs 100 crore has been made for seed funds to promote incubators,” the statement said.
To further encourage young entrepreneurs to launch agritech startups in rural regions, Rs 60 crore has been recommended for the Uttar Pradesh Information Technology and Startups Policy, while Rs 20 crore is proposed for the Agricultural Accelerator Fund.
According to the announcement, the budget includes Rs 3,600 crore for the distribution of tablets and smartphones to qualified students as part of the Swami Vivekanand Yuva Sashaktikaran Yojana.
