IIT Kanpur, SIDBI, UP government launch 25-Year roadmap to build startup ecosystem in state

NEW DELHI: The Uttar Pradesh government, the Small Industries Development Bank of India (SIDBI) in association with IIT Kanpur’s Startup Incubation and Innovation Centre (SIIC) has launched a plan to transform the state into a leading startup hub in the country over the next 25 years.

The plan was launched at an event ‘Amrit Kaal for Uttar Pradesh startups: Roadmap for next 25 years’. The event was organised as an in-person interaction with the leading fund managers and startups with the officials of the state government to promote and nurture the ecosystem through venture capital funding.

The SIDBI and UP government have collaborated in the establishment of over 60 incubators and centres of excellence in the past two years. They also provided financial support and infrastructure development to support the growth of the ecosystem.

Ankush Sharma, professor in-charge, Start-up Incubation and Innovation Centre, IIT Kanpur, and Nikhil Agarwal, CEO, AIIDE CoE, IIT Kanpur, outlined strategies for capitalising on the current momentum in the state's startup ecosystem.

Ankush Sharma said, “SIIC IIT Kanpur remains committed to enabling Uttar Pradesh’s aspirations to become India’s next leading startup hub through our robust incubation support. We will boost efforts to nurture passionate entrepreneurs across UP through mentoring and easier access to early stage capital.”

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Alok Kumar, principal secretary, UP, highlighted the achievements of the state government in the promotion of the startup culture and how they established more than 60 incubators and COE in the past two years.

Anil Kumar Sagar, principal secretary, UP, highlighted initiatives like StartinUP and skill development centers across major cities of the state. These efforts have fostered an environment conducive to nurturing innovative ideas, with well-equipped startup incubators ready to support any concept into a viable enterprise, he added.