Government of Uttar Pradesh envisages creation of world class infrastructure in the form of Center of Entrepreneurship (CoE). CoE shall possess maturity and experience in incubation, exemplary standards of R&D and promote best practices for nurturing entrepreneurship.
The intent is to create a world class Center of Entrepreneurship which will house 100 most promising product based Startups from India and abroad in the domain of Artificial Intelligence, Blockchain, IoT(Internet of Things), Industrial AI, Robotics and Big Data Analytics, Clean-tech, Defense, Edu-tech, Agri-tech, Health-tech and other areas of social or national importance. The CoE will provide complete support to the 100 selected startups in terms of infrastructure (incubation center, co working space, product testing labs, advance computers etc.) and mentorship by onboarding key experts in the field of emerging technologies and management.
The first such Center of Entrepreneurship is already being developed in the field of Medical Electronics (HealthTech) at SGPGI in collaboration with Software Technology Parks of India, GoI. In this continuation the second CoE in the field of emerging technologies is proposed to be set up in Greater Noida which is the hub of technology companies. Private Sector and Top Institutes such as IITs and IIMs will be roped in to help building the right ecosystem for the CoE including the required Know-How for research & development activities.
Host Institutes like Government and Private Technical colleges, Management institutes, R&D Institutes, Organizations / Non-Profit Organization/ Corporates / Industry Associations shall be eligible to establish CoE. The CoE shall be approved by the Hon. Cabinet on the recommendations of PMIC.
The Government of Uttar Pradesh shall provide financial support in the form of Grant-in-aid (covering capital and operational expenditure) up to INR 10 crores to CoE during 5 years from the date of establishment.
It is expected that the CoE would become self-sustainable by the end of 5 years. The disbursal of financial support to CoE shall be contingent upon PMIC’s decision. Moreover, the release of funds/ incentives by the Government shall depend upon their performance.
