It also provides annual cloud service reimbursement of up to Rs 2 lakh, besides expanding financial support for incubators, centres of excellence and research-led innovation.A key feature of the policy is the creation of a Rs 1,000-crore Startup Fund to improve access to early-stage capital. The govt has also proposed a Rs 400-crore corpus for the Dr APJ Abdul Kalam Technical University Innovation Hub, along with matching grants of up to Rs 5 crore, prototype development assistance of Rs 10 lakh, and special incentives for deep-tech and research-driven startups.
The cabinet also approved the establishment of the Uttar Pradesh Startup Mission, an autonomous body that will replace UP Electronics Corporation Ltd as the nodal agency for implementing startup initiatives.Headed by the chief secretary through its Governing Board, the Mission will oversee policy implementation, administer grants and incentives, coordinate with incubators and innovation centres, operate the state’s startup portal and facilitate partnerships with investors, industry and academic institutions.To improve governance, the policy introduces a multi-layered institutional structure comprising a steering committee, empowered committee, policy implementation unit and a startup review committee of experts. An advisory committee and a dedicated mission directorate will provide strategic guidance and monitor execution.
Principal secretary, IT and electronics, Alok Kumar said the policy seeks to deepen private participation through a fund of funds, an investor network comprising angel investors, venture capital funds and high-net-worth individuals, and initiatives linking startups with the One District One Product (ODOP) programme and the NRI community.
