UP Govt signs MoU with California based FalconX for investment in UP

Lucknow (Uttar Pradesh) [India], December 17 (ANI): A delegation of the Uttar Pradesh government led by state Finance Minister Suresh Khanna on Friday visited the FalconX office at Fremont in California and signed the Memorandum of Understanding (MoU) with the organisation for establishing an accelerator at Nodia and two investments of over 20 crores each.

“Three MoUs have been signed with FalconX, including establishing a centre in Noida and two investments of Rs 20 crores each in Uttar Pradesh,” said UP FM Suresh Khanna. He also said that the organisation will provide technological support to start-up organisations in the state.

The UP delegation consisted of Finance Minister Suresh Khanna, former Minister Siddharth Nath Singh, Advisor to CM Awanash Awanish K Awasthi, Addl Chief Secy, Infrastructure & Industrial Development Arvind Kumar. The delegation met FalconX CEO Murali Chirala and signed three MoUs with the organisation, informed the government through a release on Friday.

“We are excited about expanding our opportunities into India and our presence in Noida where we want to create an accelerator,” said FalconX CEO Murali Chirala.
“In UP we are trying to develop the innovation ecosystem and FalconX, a leading regulator, has decided to set up an acceleration and incubation facility in Noida.

Today we have entered into an agreement that they will be putting in 20 crores along with their expertise,” said Arvind Kumar, Addl Chief Secretary of the Infrastructure & Industrial Development Department of Uttar Pradesh.