Uttar Pradesh Information Technology & Start-Up Policy 2017: An Insightful Analysis

Ms Mihika

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Abstract

The Uttar Pradesh Information Technology & Start-Up Policy 2017 aims to harness the potential of the technology sector as a significant driver of change, facilitating job creation, innovation, and comprehensive socio-economic development. The policy focuses on human capital development, infrastructure evolution, and efficient policy measures to establish a conducive climate for expanding the IT-BPM industry and the start-up ecosystem. The state has fostered the twin cities of Noida and Greater Noida into thriving software and start-up hubs, with Tier-II and Tier-III cities poised to derive immense benefits from these comprehensive development initiatives. Infrastructure development and financial initiatives are being implemented, with a state-of-the-art IT City being established in Lucknow on a Public-Private-Partnership model. IT Parks are being set up in various cities, and the INR 1000 Crore Uttar Pradesh Start-up Fund will provide financial access exclusively to Uttar Pradesh-based start-ups. The policy also aims to foster a start-up culture among budding entrepreneurs and innovators, with the vision of establishing the country's largest incubator in Uttar Pradesh. The Uttar Pradesh Information Technology & Start-Up Policy 2017 aims to create a conducive ecosystem for start-ups in the state. The policy includes infrastructure development, financial initiatives, academic involvement, and digital reforms. It encourages governmental and private host institutes to set up incubators or accelerators, recognizes Lead Incubators, and provides incentives for establishing these entities. The government also aims to establish a UP Start-up Fund with a corpus of INR 1000 crore to aid startups' access to finance. Startups are recognized as startups upon meeting specific criteria and are allowed to operate across various sectors. Non-fiscal incentives include self-certifications, exemption from inspections, three-shift operations, and access to common spaces and facilities at Incubators, Accelerators, or CoEs across Uttar Pradesh. The policy will also promote entrepreneurship through events, challenges, hackathons, boot camps, workshops, business plan competitions, conclaves, and conferences. The policy will be periodically aligned with Central Government policies and has an Empowered Committee overseeing the policy's development and implementation.

Keywords

Uttar Pradesh IT & Start-Up Policy 2017, socio-economic development, job creation, human capital development, infrastructure evolution, IT-BPM industry growth, Noida and Greater Noida software hubs, IT City in Lucknow, IT Parks, INR 1000 Crore UP Start-up Fund, fostering start-up culture, country's largest incubator, academic involvement, digital reforms, government and private incubators, Lead Incubators, start-up recognition criteria, non-fiscal incentives, entrepreneurial promotion events, alignment with Central Government policies, Empowered Committee oversight.

July-Dec 2023, Volume 1

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