The state government in India’s most populous state of Uttar Pradesh has finally revealed few details about it plan to develop the country’s largest startup in Lucknow. The Yogi Adityanath government in the state first announced about this in September last year.
The state has identified about 40 acres of land near Lucknow Airport, which is on outskirts of the city, for the proposed startup incubation ecosystem comprising data centre, business processes outsourcing (BPO), development centre, training centres etc.
The proposed incubator, which will be up and running in the next 3 years, is touted to be the largest in terms of the carpet area and bench strength.
In the first phase, the Software Technology Parks of India (STPI), a central government agency, is likely to invest about Rs 200 million to develop the main complex of the startup hub spread over 2 acres.
UP additional chief secretary (IT & electronics) Sanjiv Saran told a business daily, “It would take 6 months to forge the necessary tie-ups with other stakeholders and partners on board.”
For the startup hub, the state department would also tie-up with reputed UP based institutions, such as Indian Institute of Management, Lucknow (IIM-L), Indian Institute of Technology, Kanpur (IIT-K), Banaras Hindu University (BHU) etc as key knowledge partners.
Earlier in September last year, UP government had increased the budgetary allocation for startups from Rs 10 crore to Rs 1,000 crore (~ US$157 Mn) in association with Small Industries Development Bank of India (SIDBI). About Rs 250 crore had already been allocated for startups in the state.
Besides, SIDBI had launched a financial technology incubator at IIM-L called ‘SIDBI Centre for Innovations in Financial Inclusion’ (SCI-FI), mandated to catering not just the IIM-L, but other institutions as well. SIDBI is keen to support similar incubators in other institutions too.
Earlier this year, Yogi Adityanath announced that the state government will link 60,000 villages of the state with the Start-up India programme.
In 2016, before Yogi Adityanath came to the power of the state, the then Uttar Pradesh government had already introduced Start-up Policy for entrepreneurs and startups in the state.
In last couple of years, the only major startup, which is based out of Uttar Pradesh, that received funding — and in news — was education startup EduGorilla which had raised funding in July 2017.
Source of the above news is Business Standard,