Uttar Pradesh is emerging as start up state after many successful investors meet and support of ecosystem created by the Government of Uttar Pradesh. With the population size of approximately 25 crore, Uttar Pradesh has always been a developing market place and attracting investments from other states and International companies.
Changing 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 which 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 of 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. Confidence and Trust of our clients in the brand Wealth Creation, gives 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 talent of this state to go out so have decided to set up an incubation centre 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 business 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 state for MSMEs and Start Ups. We have been helping MSMEs and Start Ups of 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, Hyderabad are the most favoured choices of venture capitalists and angle 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 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 their 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 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 job.