World’s Largest Startup Incubation Centre to be Set Up in India

Here’s really some piece of great news for the Startups! India is all set to home world’s largest incubation centre. This came as an official announcement from the Telagana Government as a part of its recently framed IT policy (2016). The Government has given a nod to furnishing 1 million sq.ft of space with high-end infrastructure facilities which will incubate Startup events and activities.

The Government will be joining hands with the private sector to set up this space which will harbour entrepreneurial events and sessions. The incubation centre will become fully operational within a period of 5 years.

The initiative was kick-started as a part of the Telagana IT policy and was flagged off by the State’s Chief Minister. The Government has sent out invites to international financial institutions to invest in this initiative. Approximately $300 million (2000 crore) worth investment is expected to be roped into this initiative.

Four sub-policies were launched parellelly which fuels innovation in Startups. The sub-policy will also bring domains like design, rural technology, gaming and animation to the spotlight.

The Government has also assured hassle-free paper clearance without corruption coming in the way. The international investors will be given all possible help to make sure the vision touches reality within the proposed timeline.

Almost 1691 units have been given approval, post launching of the industrial policy last year. Out of which 883 have progressed to the production stage. The IT sector is next up in line to be benefiting from this policy.

This move has been proposed in order to invite more investments from the IT companies in the newly-born state of Telangana.

Setting up of the world’s largest Startup incubation centre in Telagana will definitely shift global focus on this state for lucrative investment.