UP govt approves marketing assistance to 4 start-ups under new policy

New Delhi: Giving an impetus to the ‘Start Up’ program under the new Uttar Pradesh Startup Policy-2020, the Policy Implementation Unit (PIU) has approved marketing assistance to 4 start-ups on Thursday.

Each of the four start-ups will get Rs 5 lakh as marketing assistance over a period of one year to launch Minimum Viable Product in the market, an official release said.

The four start-ups that have been granted approval for getting funds are G systems of Prayagraj, Enray solutions LLP of Ghaziabad, Bhurak Technologies of Saharanpur and Matfusion weld Pvt Ltd of Lucknow in farming, solar power, face recognition and bio-fuel sectors respectively.

Additional Chief Secretary, IT and Electronics and Chairman of PIU Alok Kumar said that the objective of facilitation and incentives was to encourage innovators to stimulate commercialization of their inventions and to help in validating “proof of concept”.

Over 3,000 start-ups set up in last 3 years

UP government is encouraging youth to set up new start-ups under the Start-Up Policy 2020. As a result of this, where only 200 startups could be established in the state before 2017, a whopping 3,406 start-ups have been set up in just 3 years. This has also provided employment to more than 22,000 people.

Additional Chief Secretary, IT and Electronics, Alok Kumar said, “Start-ups established in 73 districts have provided direct employment to 10,000 people and indirect employment to 12,000 people. Soon, 100 new incubators will be set up in every district of the state. Currently, 18 incubators are functioning.

At present, 1,154 startups have been established in Noida and a total of 1,219 start-ups have been established in Ghaziabad (533), Lucknow (500), and in the districts of Bundelkhand region and Purvanchal region of the state, he added.