As a part of UP Startup Policy, 2020, the Uttar Pradesh government approved the setting up of a center of excellence in Noida. IIT Kanpur and FICCI (Federation of Indian Chambers of Commerce and Industry) will set up a center of excellence for artificial intelligence and entrepreneurship.
The center of excellence will support startups and will provide the necessary exposer to get funding from investors. The UP government wants to create an ecosystem for innovative startups as it has set a target of being in the top 3 states in the “States’ Startup Ranking” introduced by the Government of India.
In the coming years, the state government wants to achieve its target of creating an ecosystem for at least 10,000 startups in the state. For the next five years, the center of excellence will support 250 startups — 50 in a year — mainly from cybersecurity, artificial intelligence, the internet of things, and augmented reality.
“While IIT-Kanpur will give the technological expertise and incubation support, FICCI India will provide industry tie-ups and business connect. Also under the Start-up Policy 2020, financial assistance will be given to startups,” said Abhay Karandikar, Director of IIT Kanpur.