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UP launches start-up fund, signs MoU with SIDBI to promote aspiring entrepreneurs

While launching the fund, UP CM said that it was imperative to bring a new start-up policy for agriculture, health, education, and other important sectors so that youth could connect with it.

Published: 20th May 2020 04:44 PM  |   Last Updated: 20th May 2020 04:44 PM   |  A+A-

Uttar Pradesh Chief Minister Yogi Adityanath speaks during a pro-CAA rally in Kanpur Wednesday Jan. 22 2020. (Photo | PTI)

Uttar Pradesh Chief Minister Yogi Adityanath (Photo | PTI)

Express News Service

LUCKNOW:  In order to mobilize the youth of the state towards entrepreneurship, UP Chief Minister Yogi Adityanath launched the ‘Uttar Pradesh Startup Fund’ handing over the first installment of Rs 15 crore to Small Industries Development Bank of India (SIDBI) here on Wednesday.

While launching the fund, UP CM said that it was imperative to bring a new start-up policy for agriculture, health, education, and other important sectors so that youth could connect with it. “This move will further strengthen the possibilities of job creation,” he said. The MoU between the UP government and SIDBI was
a step in this direction, he claimed.

Yogi said that a large number of migrant workers had come to the state and that they needed to be given jobs on the basis of their skills. “This will not only solve their problems but the benefit of their energy and talent will also be provided to the entire country through Uttar Pradesh,” he added.

With noble intentions, the decision-making ability too has to be enhanced and speeded up to achieve the goal of creating jobs easily, said the CM, adding that it would benefit a large section is deprived and poor.

Yogi said that the new start-up policy would motivate more and more youth to launch their own start-ups. Under the new package announced by the Government of India for MSMEs, the MSME Department of the state had taken the first step forward under which a huge online loan fair was organised and the process of
giving loans to entrepreneurs was completed.

Deputy CM Dinesh Sharma said that the MoU with SIDBI would definitely give a boost to start-up culture. There were immense opportunities in Uttar Pradesh, the youth here had new ideas and concepts, but they were not utilised till now.

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