UP approves marketing assistance to four startups under new policy

In a boost to 'Start In UP' programme under the new UP Startup Policy-2020, the Policy Implementation Unit (PIU) approved marketing assistance to four startups on Thursday.

Each of the four startups will get Rs 5 lakh as marketing assistance over a period of one year to launch Minimum Viable Product in the market, an official release said.

The four startups that have been granted approval for getting funds are G systems of Prayagraj, Enray solutions LLP of Ghaziabad, Bhurak Technologies of Saharanpur and Matfusion weld Pvt Ltd of Lucknow in farming, solar power, face recognition and bio-fuel sectors respectively.

Emphasizing the importance of support to startups in early stage, Additional Chief Secretary, IT and Electronics and Chairman of PIU Alok Kumar said that the objective of facilitation and incentives was to encourage innovators to stimulate commercialization of their inventions and to help in validating "proof of concept".

( With inputs from ANI )

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