The Government of Uttar Pradesh shall establish an INR 1000 Crore UP Start-up Fund for providing access to finance to start-ups in Uttar Pradesh.
The Fund shall be in the form of fund of funds. In this model, the Fund will not be invested directly into start-ups, rather, it shall participate in SEBI approved investors.
Alternatively, the Fund shall not be invested directly into start-ups, rather it shall make investment in “Daughter Funds,” which would invest in startups promoting innovative ideas across all sectors in Uttar Pradesh
The Government of Uttar Pradesh would take minority participation in the Daughter Fund, by being a limited partner of upto 25%
The Fund would be professionally managed and a Fund Manager shall be nominated/appointed to manage the UP Start-up Fund, granted by the State Government.
Up Startup catalyze the startup culture, by providing a suitable incubation environment for the innovative ideas with appropriate & adequate resources to convert vision into organisation.