The UP government is setting up a startup incubator in the Lucknow, which is the country biggest incubator. The main aim of the startup incubator is to provide a startup ecosystem which will provide mentors, investors, and marketing management solutions.The expected worth of the project is going around Rupees 10 Billion.
The reason behind the startup incubator is, the government got funding of Rupees 4.28 trillion in February (21-22) of 2018, from UP investor summit, the total investments from botht the public and private sectors. The focus in the summit mainly on Civil aviation, ITEs, dairy, electronics manufacturing, tourism, MSME, renewable energy, filmmaking, handloom & textile, and agro&food processing.
The IT & electronics minister of the government Mohsin Raza, while addressing the UP startup conclave, which is organized by the IIM-L (Indian Institute of management Lucknow) and LMA (Lucknow Management Association). There are 4750 startups all over India, while 1000 among them from the Noida and Greater Noida only. The govt not only setting up the startup ecosystem, and it is planning to set up IT parks in the various places like Agra, Meerut, Kanpur, Gorakhpur, Varanasi, Bareilly etc.
The startup ecosystem which is going to come in the future is tied up with topmost universities in the UP like IIM-Lucknow, IIT-Kanpur, and Banaras Hindu University as knowledge partners. The IIT-Kanpur is performing very well when compared to all incubators in the country.