Monday, March 21, 2016

Govt. Plans Startup Corridor for Incubators in India ? What is it and How ist Helpful to Other Startups?

Here comes another positive news for all budding startup owners. A startup corridor for all of them . But what is it and how can one benefit from it ? Well , Sri HK Mittal, Adviser and Head, National Science & Technology Entrepreneurship Development Board (NSTEDB), recently interatcting with press at an even organized in Ahmadabad explained the concept of Startup Corridor . He confirmed teh government move to establish this by saying , “We are in the process of coming up with ‘Startup Corridor’ and it would be soon implemented in next financial year.”


What is Startup Corridor ?

 Under the ‘Startup Corridor’ program , various  incubators will  create a consortium that can share their specialized incubation service with other startups. This startup corridor will be equipped with hi-tech facilities and government will provide additional 5 crore rupees ( 50 milion) to back the startup corridor.

The need for the startup corridor was felt by government realizing the fact that  incubators do not have all the resources and expertise under one roof. So, incubating startups have to either compromise or approach different incubators and therefore end up spending more time during incubation.

Mr Mittal explained that "Under the startup corridor, multi-disciplinary incubators will be able to create a consortium and approach the science and technology ministry. If selected, they will receive Rs five crore funding as incentive. This arrangement will help startups that need multi-disciplinary incubation support and thus save time by accelerating their incubation. It will also allow incubators to pool in their resources to incubate a startup,”
"We are in the process of coming up with 'Startup Corridor' and it would be soon implemented in next financial year," HK Mittal, adviser and head of National Science & Technology Entrepreneurship Development Board (NSTEDB) said on the sidelines of Whatnext 2016, a startup event organised by icreate at Ahmedabad.

Explaining the concept of 'Startup Corridor', Mittal said since incubators do not have all the resources and expertise under one roof, incubating startups have to either c ..

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