The Yamuna Expressway Industrial Development Authority (YEIDA) is set to revolutionise the startup ecosystem in Uttar Pradesh with its latest initiative: the development and allotment of flatted factory units. This strategic move aims to foster innovation by providing affordable factory spaces to startups with limited financial resources.
YEIDA’s plan involves constructing these flatted factories on a rental basis, making them accessible to budding entrepreneurs. These units will come equipped with essential amenities such as an exhibition centre, cafeteria, and parking facilities for 1,000 vehicles. The construction of these units is slated to commence soon, reflecting the authority’s commitment to creating a conducive environment for business growth. “The flatted factories are intended for those who lack sufficient funds to purchase land and construct factories. By offering ready-made built-up spaces near Noida International Airport, the Uttar Pradesh government aims to encourage innovation among financially constrained entrepreneurs,” a YEIDA official stated. YEIDA plans to build two flatted factories, with the potential for expansion based on demand. Each factory will be developed on a five-acre plot along the Yamuna Expressway, specifically in Sectors 28 and 29, catering to the medical devices and apparel sectors, respectively. The project has a budget allocation of ₹30 crore, and each factory will house 240 units, ranging in size from 60 to 120 square metres.
The Uttar Pradesh government has directed YEIDA to develop these flatted factories to create opportunities for small businesses, particularly startups. The initiative is part of a broader strategy to attract investment and foster industrial growth in the region. Sector 28 will host the medical devices park, while Sector 29 will be home to the apparel park project for textile companies. The development of these parks alongside the flatted factories underscores YEIDA’s integrated approach to industrial development. The idea for this scheme emerged after a nine-day foreign tour by senior YEIDA officials in October 2022. During this tour, they organised roadshows in Japan, South Korea, Singapore, Germany, and other countries, aiming to attract investors to the Noida region. The success of these roadshows highlighted the potential benefits of the flatted factory scheme for startups. This initiative represents a significant step towards building a supportive infrastructure for startups in Uttar Pradesh. By offering affordable and well-equipped factory units, YEIDA is enabling entrepreneurs to focus on innovation and business growth without the burden of substantial upfront costs.
