For promoting start-ups across the state, the Uttar Pradesh government has set up an angel fund of Rs 1,000 crore to facilitate setting up 10,000 start-ups in all sectors. So far, 6,800 start-up ventures have come up with Noida, Ghaziabad, and Lucknow leading the pack.

The angel fund is a fund that pools capital for investment in new businesses.

According to official sources, incubators in fintech, education, health, agriculture, textile, and information technology/IT-enabled services have been set up. The incubators aim to boost UP’s entrepreneurial talent and provide young entrepreneurs an inclusive start-up ecosystem. They will not only promote start-ups, but also give a push to mass employment opportunities and attract private investment.

Till now, 15 incubators have come up in state universities, engineering colleges and private institutions. In fact, India’s largest start-up incubator is in the works in Lucknow. An innovation hub has also been made operational, which supports more than 200 start-ups even as eight other ventures are being handled by the multi-specialty Sanjay Gandhi Post Graduate Institute of Medical Sciences, Lucknow. At least one incubator will be set up in each of the 75 districts of UP.

Earlier, the government had plans to set up a Fintech City over 100 acres in the Noida-Greater Noida corridor. Currently, about 240 fintech start-ups are operational in the region dedicated to digital lending, payments, blockchain and digital wealth management.

Some of these firms include Pine Labs, Spice Money, Paytm Payments Bank, Advisorymandi, DiGiSPICE, OneCode, Wishfin, GramCover, FanTiger, Marquee Equity, Easypolicy, Buddy4Study, Oye Loans, PayMe India, PortDesk, Nivesh.com.