Lucknow, Oct 30 (KNN) Uttar Pradesh has emerged as the fourth-largest startup ecosystem in the country, according to a report in the Hindustan Times.

As per KPMG, a state government agency that tracks investment data, U.P. is home to eight out of the 108 unicorns in the country. These include Paytm, Paytm Mall, India Mart, Moglix, Pine Labs, Innovaccer, InfoEdge and Physics Wallah.

As per the report, the startups are spread across all 75 districts. The state has achieved its goal of establishing 10,000 startups by mid-2023, surpassing the original target of 2025.

At present, Uttar Pradesh hosts two Soonicorn startups, including Class Plus and InShorts. The state’s startup ecosystem also includes Minicorns, which are startups with valuations surpassing one million dollars.

Uttar Pradesh is witnessing the emergence of agri-tech-based startups, contributing to rural infrastructure development and job creation. The state government has already allocated Rs 1, 000 crore to the U.P. Startup Fund and established 63 incubation centers across 23 districts.

The state government is actively promoting startups in sectors such as Artificial Intelligence, drones, Med Tech, Blockchain, 5G, 6G, Quantum Computing, Additive manufacturing, and Space Tech, showcasing its commitment to nurturing innovation and technological advancement.

(KNN Bureau)