With the emergence of the start-up culture in a country like India, many states have adopted this culture so as to promote and facilitate a kind of technical environment that focuses on improving the infrastructural facilities, implementing various kinds of policies and plans, developing the human capital so as to make the country reach great heights. Among various states that have joined this start-up revolution, one of the states is Uttar Pradesh that has a huge contribution towards this changing culture that will not only benefit the individuals but will also be advantageous for the entire country. Under the guidance of Mr. Akhilesh Yadav, the honourable chief minister of Uttar Pradesh, the state has set up various goals and policies that will develop the cities of Uttar Pradesh into leading IT hubs.
India has received global acknowledgment in terms of the Information Technology (IT) services that prevail within the country. The aim of the state government is to promote all the small and medium scale start-ups that will help them to establish themselves in this challenging and competitive world. It has been seen that many of the start-ups back out due to the lack of funds. To avoid these kinds of consequences, financial supports like incentives will be provided and few policies will be framed out that can help these start-ups.
An initial corpus fund of Rs.100 crore would be provided to promote the startups and mobilize them so that they do not run out of funds. The funds are supposed to be managed by the managers appointed by the government. Various policies have been framed that has divided the cities into three tiers i.e., tier I, tier II and tier III. The tier I cities consists of Noida and Greater Noida areas; the tier II cities include Kanpur, Allahabad, Meerut, Varanasi, Agra, Lucknow and many other cities that have a population of more than 2 million; the tier III cities consists of those cities that have a population of less than 2 million.
Some of the key highlights already attained by the UP government are as mentioned below:
- One of the greatest achievements in Uttar Pradesh is the development of the 100 acres IT city on PPP (Public Private Partnership) model in Lucknow that will generate direct and indirect employment to 75,000 people with a minimum investment of Rs. 1500 crore.
- IT UPVAN was the first government based incubator developed in Ghaziabad and Lucknow so as to encourage the start-ups.
- Also, due to the availability and presence of skilled labours on a large scale within the state, Uttar Pradesh finds itself suitable and efficient for developing it into a major IT hub.
All the institutions like the IIT’s, IIM’s, NIT’s are being encouraged to develop the start-up environment from within the institutions itself so that the students get motivated as well as encouraged to build India into a start-up nation. Incubators and accelerators must be set up in these institutions that will instil the concept of start-up ecosystem. The government under the regime of Akhilesh Yadav is trying its level best to boost up the economic activities and development. Fresh and new policies have been announced that will attract the private investors to invest in various sectors of the country. At present, more than 3,100 start-ups are present within the country and India has been ranked 4th in terms of entrepreneurship promotion.
We find that Uttar Pradesh has a very industry-friendly environment that attracts a wide range of investors to invest in the IT sectors here. The development of excellent IT infrastructure, generation of employment opportunities and the presence of skilled employees all leads to the development of the state as well as the country on a whole. Thus, one of the main missions of the UP government is to promote UP as a preferred investment destination in India and develop it into a major Start-Up state and IT hub.