Uttar Pradesh: CM Adityanath Launches Fund For Startups, Hands Over First 15 Cr Tranche To SIDBI

Uttar Pradesh Chief Minister Yogi Adityanath on Wednesday launched 'Uttar Pradesh Startup Fund' in a bid to promote aspiring entrepreneurs.

A Memorandum of Understanding (MoU) has been signed with Small Industries Development Bank of India (SIDBI) for the same, with the first installment of Rs 15 Cr.

The CM said it was important to bring a new startup policy for the youth to explore their innovation and advancement in all the sectors, including agriculture, health, education, and will equally boost job opportunities in the state.

Yogi said that the present government is paying attention to introduce such policies to utilize the new ideas and creations by the youth.

The step will help provide employment to migrant workers who are coming to the state, on the basis of their skills. This would not only solve their problems but the entire country will get the benefit.

The CM also mentioned about the new package announced by the Government of India for MSMEs under which small and medium-scale businesses will get loans without mortgage, to recover from the financial stress.

Deputy Chief Minister Dinesh Sharma said the MoU with SIDBI will speed up the establishment of startups and give a boost to the startup culture, as the amount of talents and ideas that lie in the state is in abundance and can't be put to waste anymore.

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