In an attempt to nurture the start-up drive in the state, the Uttar Pradesh government will host a Start-Up Exchange Programme. Navneet Singh, the additional chief secretary of Uttar Pradesh (UP) Sports and Youth Welfare said. 

Through this, emerging companies will get the opportunity to develop their knowledge and skill. 

“A Start-up Exchange Programme will be started by the Youth Welfare Department in association with PHD Chamber of Commerce and UP Angel Network for the exchange of skills, which will help the youth of the state in enhancing their knowledge and skill development,” said Sehgal, addressing the ‘UP Retail Franchise, MSME and Start-Up Expo Conclave 2022. 

According to him, the UP government established a fund of funds of Rs 1000 crore in 2021 to back the start-ups. The state has disbursed Rs 2.17 crore to the 55 incubators approved by the government through Capex and Opex grants. Additionally, it has distributed Rs 3.30 crore under the SIDBI UP fund off funds. 

He also pointed out that the small industries in the state have also played a significant role in generating employment. Technically advanced youth can start their start-up ventures through MSMEs. Additionally, the state is also encouraging them by giving exemptions under various schemes. 

This process has been performed well to solve unemployment issues and stop its age-long migration, he added.