With the quick innovations and evolution happening in the startup world the Uttar Pradesh govt has decided to make changes in the startup policies in order to encourage women participation from the rural areas. The Uttar Pradesh govt is looking to attract investments to boost the economy and to generate an environment for women in the startup space.
The revised policy will be sent to the cabinet soon for approval. The new policy changes have been introduced and structured by Uttar Pradesh’s department of IT and Electronics. Participants present at the Global Investors Summit 2023 will also receive a draft of the revised policy. One policy introduced stood out, which spoke about the circular economy, solar energy, and climate change. Emphasizing long-term effects and addressing environmental concerns were considered to be of great importance.
The new changes in policy have also increased the number of Data Centres from three to eight in the state. The Centre of excellence has been launched already at SGPGI and IIT, Noida. The general allowance for startups has been increased from Rs 15,000 per month to Rs 17,500 per month and seed capital has been increased from Rs 5 Lakh to Rs 7.50 Lakh. Currently, the Uttar Pradesh government has 52 incubators all govt certified along with 7200 startups registered with them.