Uttar Pradesh Start-up Policy 2020
Dear-Businessman/Investors,
In Series of KIP: Business and Subsidy Update, today we are going to share with you an informative series i.e., “Uttar Pradesh Start-up Policy 2020”
Objective:
The Objective of this policy is to Promote the culture of innovation and entrepreneurship at the grassroots level leading to employment generation and introduction of emerging technologies in niche sectors thereby contributing to state economy and empowerment of youth.
Quantum of Assistance:
Incentives for Incubator
Capital Grant:
- Capital grant on setting up/scaling up technology infrastructure for the private host institutes shall be reimbursed up to 50 percent of the eligible amount subject to maximum limit of INR One (1) Crore, first installment to be capped at 25 percent of the maximum limit. The demand for the same shall be raised on quarterly basis by incubators. The limit of INR 1 crore shall be increased to INR 1.25 crore for incubators established in Purvanchal/Bundelkhand regions.
- Capital grant to government host institutes shall be given in exceptional cases only post approval by PMIC. However, despite not getting the capital support, government incubators will continue to act as first point of contact for startups on behalf of Startup Nodal Agency.
Who can apply:
Legal entity registered as Proprietorship, Partnership firm, Cooperative Society, Company, Trust, Non-Government Organization (NGO), Limited Liability Partnership (LLP) or SPV created for the purpose of developing the Eligible Project as defined in this policy.
How to apply:
- Incubators shall submit their application for recognition under this policy to the Startup Nodal Agency through Start-In-UP online platform.
- Government host institutions shall not be eligible to get Capital Grant. However, all other provisions related to incubators mentioned in this policy will be applicable to them.
- Detailed guidelines for incubator recognition application and their ongoing performance evaluation shall be made available on Start-In-UP website.
Commencement and Applicability:
This policy will be valid for 5 years from the date of its notification or till the time any new policy/amendment is introduced by Government of UP, whichever is later.
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