In a path breaking decision, the Uttar Pradesh government has proposed creation of the UP Innovation Fund that would boost the startup sector in the state and in turn generate EMPLOYMENT.
The state cabinet has approved the proposal for formation of Uttar Pradesh Innovation Fund under which Rs 4,000 crore will be made available to technical universities, educational institutions and higher educational institutions over a period of two to three years.
The cabinet also approved the selection of a trust, law firm and manager for the operation of the fund by a high-level committee constituted under the chairmanship of the chief secretary.
The proposal for establishment of unmanned aerial vehicle (UAV)/drone technology based Centre of Excellence on the Indian Institute of Technology, Kanpur campus has been approved by the cabinet under Uttar Pradesh Start-up Policy-2020. The centre will be set up on IIT Kanpur campus at a cost of Rs 20.30 crore.