UP to give upto 5 lac to start-ups

New Delhi, Aug 19 (KNN) Micro, Small and Medium Enterprises (MSMEs) in Uttar Pradesh will get a cash aid upto Rs 5 lakh as marketing assistance under a new start-up policy 2020 which aimed at extending support and encouragement to start-ups and incubation centres in the state.

Additional Chief Secretary (Electronics and Information Technology) Alok Kumar while addressing a virtual conference on "Role of Information Technology in transforming MSMEs' future during COVID-19" said, “Under the new policy, there is a window of up to Rs 5 lakh as marketing assistance to MSMEs."

Kumar also said the Department of IT & Electronics is working hand in hand with SIDBI to facilitate venture capital funding for new start-ups and MSMEs.

Additional Chief Secretary, Department of MSME, Khadi & Village Industries, Navneet Sehgal said with the help of information technology now, almost all District Industries Centre (DICs) are online.

''Most of the government schemes for the MSMEs and other units are posted online now and can be accessed and availed online,'' he added.

UP IT and Electronics Minister Ajit Singh Pal said with the optimum use of Information Technology, MSMEs will transform the nation into a new India where IT will play an important role that will lead the country as a major player in the global economic competition.