Uttar Pradesh Plans for a Thriving Startup Ecosystem in the Next 25 Years

Noida, India: A recent event brought together government officials, leading venture capitalists, and promising startups to discuss and chart the roadmap for a flourishing startup ecosystem in Uttar Pradesh over the next 25 years. The event, titled “Amrit Kaal for Uttar Pradesh Startups – Roadmap for Next 25 years,” was organized by SIDBI in collaboration with SIIC-IIT Kanpur and StartinUP.

Key Highlights:

  • Government Commitment: Chief Secretary Shri D. S. Mishra announced plans to develop a dedicated single-window system to address issues faced by startups and Alternative Investment Funds (AIFs). He also highlighted initiatives like developing the Bundelkhand area on the model of Noida and operationalizing 21 airports to encourage talent retention and reverse migration.
  • Funding Support: The UP Startup Fund, established with an initial corpus of ₹1000 crore, aims to provide a robust infrastructure and conducive policy environment. SIDBI Chairman Shri S. Ramann emphasized the importance of AIFs in mobilizing capital, stating that they have already invested ₹17,000 crore in 1000 startups.
  • Collaboration and Innovation: Educational institutions in UP were called upon to collaborate with startups, similar to the US model. This collaboration is expected to foster innovation and support the growth of the ecosystem.
  • Growth Potential: Startup founders expressed confidence in Uttar Pradesh’s potential to become a major startup hub, rivaling Karnataka and Maharashtra. They highlighted the supportive business environment and suggested further improvements.

Overall, the event showcased a strong commitment from the Uttar Pradesh government and stakeholders to create a thriving startup ecosystem in the state. By addressing challenges, fostering collaboration, and providing necessary support, Uttar Pradesh aims to become a breeding ground for innovative startups in the coming years.

  • The event was attended by prominent VCs like Saket Misra of SVAS Fund, Sudhir Sethi of Chiratae Ventures, and Ankhi Das of Ankurit Capital.
  • Several startups shared their experiences and suggestions for improvement.
  • The event concluded with a commitment from the government to address the concerns raised and actively support the startup ecosystem.