Friday, February 5, 2016

Incubator Setup for Startup India

Objective Incubator Setup for Startup India

To    ensure   professional  management   of    Government sponsored  /   funded  incubators, Government will create a policy and framework for setting-up of incubators across the country in public  private partnership

Details

India currently lacks  availability of incubation facilities across  various parts of the country. Incubation facilities  typically   include physical infrastructure,   provision of   mentorship support, access to networks, access to market, etc. Of all these  features,  physical infrastructure entails large capital investments  which  can   generally be facilitated by  the  Government. However, requisite skills for operating an  incubator are pivotal as well, for  which  expertise of  the private sector needs to be leveraged. Considering this, Government shall encourage setting up of;


  • 35 new  incubators in existing institutions. Funding  support of 40% (subject to a maximum of INR 10 crore) shall be provided by Central Government for establishment of new  incubators for which 40% funding by  the respective State  Government and 20%  funding by  the private sector has been committed. The incubator shall be managed and operated by the private sector.

  • 35 new  private sector incubators. A grant of 50% (subject to a maximum of INR 10 crore) shall be provided by Central Government for incubators established by private sector in existing institutions. The incubator shall be managed and operated by the private sector.


The funding for setting up of the incubators shall be provided by NITI Aayog as part of Atal Innovation Mission (refer #13 of this Action  Plan). Participating departments and agencies for setting up of new incubators  shall   be  Department   of   Science  and   Technology, Department   of

 Biotechnology, Department  of   Electronics  and  Information  Technology, Ministry  of   Micro,  Small   and  Medium Enterprises, Department  of  Higher  Education, Department  of  Industrial Policy and Promotion and NITI Aayog.

Each  of the above mentioned departments/agencies would enter into a standard MoU with identified private  sector  players  for   creation  of   academia-industry  tie-ups  for   nurturing  innovations  in academic institutions.

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