Lucknow, July 9 (KNN) In a bid to promote startups in the state, the Yogi Adityanath cabinet has cleared the new 'Uttar Pradesh Startup policy 2020' which will be applicable for the next five years.

The Cabinet meeting was held through video conferencing on Wednesday.

There was no comprehensive startup policy in the state and for encouraging a startup culture and building a strong startup ecosystem, an independent and comprehensive policy was required, the release said.

The policy aims at bringing the state among the top three in startups, setting up 100 incubators in the state and at least one in every district, developing an ecosystem for setting up at least 10,000 startups and setting up the biggest incubator of the country in Lucknow.

According to the release, special encouragement will be provided for setting up startups in Purvanchal and Bundelkhand areas, the release said, adding that the policy would be helpful in turning the youth from job-seekers to job-providers.

''It is expected to create direct employment opportunities for 50,000 people and indirect employment for one lakh people,'' the release added.

The Yogi cabinet has also decided that any change in the startup policy would be done with the approval of the chief minister.