Uttar Pradesh unveils Startup Policy 2020 to support 10,000+ startups
Uttar Pradesh rolled out its Startup Policy 2020, aiming to support more than 10,000 startups and turn the state into a major startup hotspot.
The plan includes establishing or supporting at least one incubator in every district, with India's largest incubator set for Lucknow, so there's space and support for fresh ideas all over UP.
UP offers incubation space and funding
There's a massive 1 million square feet of incubation and acceleration space on the way, plus eight Centers of Excellence to fuel innovation and learning.
If you've got an idea, you can get a monthly grant, support for prototypes, seed funding to launch products, and even help with patent costs.
Startups with women, transgender, or Divyangjan co-founders holding more than 26% equity, with co-founders belonging to the Economically Weaker Sections, or those registered or operating in Purvanchal or Bundelkhand get an extra 50% bonus on sustenance allowance and seed capital.
The policy is all about making sure anyone with drive gets a fair shot at building something big.