Lucknow: Uttar Pradesh is emerging as a start-up state after many successful investors meet and supported of ecosystem created by the Government of Uttar Pradesh. With a population size of approximately 25 crores, Uttar Pradesh has always been a developing marketplace and attracting investments from other states and International companies.
Changing the ecosystem has given new confidence to the Start-Ups from Uttar Pradesh. However, attracting initial funds to Start-Ups of Uttar Pradesh is still a challenge. This situation has created a gap that is being addressed as an opportunity by local venture capitalists of Uttar Pradesh.
Mr. Neeraj Gupta, Founder, Wealth Creation Group
Wealth Creation is an investment advisory company based in Uttar Pradesh since 2015, founded by Mr. Neeraj Gupta of Prayagraj. They have been helping investors in the commodity market to earn best possible returns by investment advisory services. When asked Mr. Neeraj Gupta about the mantra of success behind Wealth Creation, he mentioned “Our customer Satisfaction Index is more than 85% and we have been able to retain our clients with us since the beginning of Wealth Creation. The confidence and Trust of our clients in the brand Wealth Creation give me further courage to think about growth. We are now associated with many growing businesses across industries. I have started supporting able Start-Ups of Uttar Pradesh. I do not want the talent of this state to go out so have decided to set up an incubation center in Lucknow. All selected Start-Ups by Wealth Creation will not only be funded by me but also given 360-degree support by Internally acclaimed management consulting group 3EA. We are already investors in many real estate projects, FMCG businesses, and financial literacy-based businesses, now I as a venture capitalist have created a fund of INR 10 crore to provide support to Uttar Pradesh-based Start-Ups. For an investor, I see this as an opportunity and win-win proposition.”
Ten years old management consulting group 3EA and Wealth Creation have signed an MoU for creating a such incubation centre at Lucknow that will help the clients of 3EA and other Start-Ups of Uttar Pradesh. “One side, Uttar Pradesh is a land of ideas and talent, on the other side, this state is one of the fastest growing states for MSMEs and Start Ups. We have been helping MSMEs and Start-Ups in Uttar Pradesh for the last ten years, but the biggest challenge has been the funding of Uttar Pradesh-based Start-Ups. Small businesses and Start-Ups of Bangalore, Mumbai, and Hyderabad are the most favoured choices of venture capitalists and angel investors. Somehow Uttar Pradesh has not been the preferred choice. Though conditions are changing, still there is a candid lacuna for business for local venture capitalists. I am happy that Wealth Creation a trusted group by the market has come forward and Mr. Neeraj Gupta, founder and Managing Director of Wealth Creation has decided to create a long-term corpus to support MSMEs and Start-Ups of Uttar Pradesh, ” Mentioned by Dr. Vibhor Mishra, CEO of 3EA.
Wealth Creation is investing massively for the purpose of financial literacy and investment advisory and have launched the beta version of its advisory application, dedicated to guide and support society at large for raising the bar with respect to information, knowledge, and wisdom of middle-class people for the right kind of investment. They are planning to operate and seek help from the Financial Planning Board Of India as well.
This can be an example for other entrepreneurs who can create a private fund and can support MSMEs and local Start-Ups. This will fill the gap and will extend the horizons for local talent for business and jobs.