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Women startup to benefit from new startup policies of UP government

Indian Startup Chamber

  • July 27, 2020
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In previous few years UP government has taken several steps to encourage entrepreneurs and establish new ventures and generate employment opportunities. The government aims at setting Uttar Pradesh among the top three states in the startup sector in the country and thus they are setting up India’s biggest startup incubator in Lucknow.

But it's not just the startup culture that the government is promoting, but to increase the involvement of women's in these startups, government has come up with new startup policy. The new startup policy will give women's special benefits to encourage them to come up with new startup ideas.

According to this policy women's, especially abled persons and third genders will get 50 percent more benefits. According to the new policy new startups will be provided with the facility of incubators. A startup incubation centre is a collaboratives program in which new startups are provided with a place with all the facility where they could easily start their work.

According to the policy 10 startups in each incubator will be given a discharge allowance of Rs 15,000 per month for one year, but if the startup belongs to women then the discharge allowance will be raised to Rs 22,750. The incubation centre which are authorised by the government will have seat reserved for the women. 25 percent of these seats will be given to women startups only.

The women’s startup will also get benefit in the financial aid. According to the policy a financial aid of Rs 5 lakhs will be given to a new startup but if it is a women’s startup then it will get Rs 7.5 lakhs as financial aid. Even if women have started a startup in partnership with someone then also they will be eligible for these benefits. All these benefits are also available for especially abled persons and third genders. Also, if any startup staff contains more than 50 percent of women, especially abled persons and third genders then also they will get these benefits.

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