UP Government Allocates Rs 70 Crore for U-Hub to Enhance Start-up Infrastructure
In a significant move to bolster the entrepreneurial landscape, the Uttar Pradesh government sanctioned a budget of Rs 70 crore on Wednesday for the establishment of U-Hub centres in Lucknow and Gautam Buddh Nagar. This initiative is designed to strengthen the start-up ecosystem and foster innovation, aligning with the state's broader strategy to create a robust 'ideation-to-commercialisation' framework for emerging businesses.
Hub and Spoke Model for Statewide Impact
The U-Hub will operate on a 'Hub and Spoke' model, with main innovation centres located in Lucknow and Gautam Buddh Nagar. These hubs will collaborate with satellite incubators spread across Uttar Pradesh, ensuring a widespread reach and support network for start-ups. The primary objectives of this model include promoting start-ups and entrepreneurship, encouraging innovation and technology-driven enterprises, facilitating collaboration among industry stakeholders, investors, start-ups, and institutions, and developing a strong, sustainable start-up ecosystem throughout the state.
Additional Funding for Electronics and Telecom Infrastructure
Complementing the U-Hub initiative, the government has proposed an additional capital expenditure of approximately Rs 30 crore under electronics and telecom infrastructure heads. This funding aims to enhance the technological backbone necessary for start-ups to thrive, providing them with advanced tools and connectivity to compete in the global market. Together, these investments underscore Uttar Pradesh's commitment to becoming a leading hub for innovation and economic growth in India.
