Chief secretary pushes for startup growth in Uttarakhand’s hilly regions
Uttarakahnd Chief Secretary Mrs. Radha Raturi has given instructions to give priority to such Alternative Investment Funds (AIFs) to be selected under Uttarakhand Venture Fund, through which there is a solid positive impact on the economy of Uttarakhand and employment generation, technical partnership and capital investment are encouraged in the state. CS has clarified that only Alternative Investment Funds running on the theme of Uttarakhand Startup Policy 2023 should be selected for investment. Chief Secretary Mrs. Radha Raturi has given instructions that priority should be given to such Alternative Investment Funds which are interested in investing in the main focus sectors of the state and emerging technology.
Chief Secretary Mrs. Radha Raturi has given instructions to encourage startups in the hilly areas of the state under the Uttarakhand Venture Fund of Rs 200 crore. CS has given instructions to help in setting up startups related to agriculture, fisheries, horticulture, dairy in hilly areas. She has given instructions to help more and more women self-help groups and women to set up startups through production and processing of local products, especially local millets, under social venture. The Chief Secretary has also given instructions to encourage startups based on the use of Pine leaves (Pirul). She has also given instructions to connect the Rural Development Department with this work.
Chief Secretary Mrs. Radha Raturi has given instructions to encourage private sector investment in the startup ecosystem of the state by taking advantage of public funds under the Uttarakhand Venture Fund. She has also given instructions to provide development fund or venture loan to startups that benefit the economy of Uttarakhand. The Chief Secretary has given instructions that the youth of Uttarakhand should be encouraged to register their startups.
It is known that IIT Roorkee and IIM Kashipur are the main ecosystem partners in the Uttarakhand Venture Fund of Rs 200 crore. The main objective under Uttarakhand Venture Fund is to encourage private sector investment in the startup ecosystem of Uttarakhand, encourage the youth of Uttarakhand to register their startups and create positive economic and social impact in Uttarakhand. Under the Uttarakhand Startup Policy 2023, a target has been set to establish the state as a startup hub for all ecosystem players in the next 5 years. So far, the state has a total of 1092 startups, 13 state recognized incubators and more than 200 registered mentors. Dehradun district has the highest number of 549 startups and 7 incubators, Haridwar has 200 startups and Udham Singh Nagar has 112 startups. The state of Uttarakhand moved from Aspiring State to Leading State in the SRF 21 ranking in the year 2022 and the state was successful in maintaining its leader rank in the year 2023 after establishing a venture fund of Rs 200 crore and declaring U Hub Innovation Center.
On Thursday, Chief Secretary Smt. Radha Raturi held a meeting in the Secretariat regarding the guidelines related to the operation of Uttarakhand Venture Fund.
