New Incubation Centre to be Set Up by Delhi Government

In a recent announcement made by the Delhi Government, it has officially declared that the state government is working on setting up an incubation centre in the city that will cater to and promote theentrepreneurial potential of the youth.

The plan for the incubation centre has been approved by the Deputy Chief Minister of the State - Mr. Manish Sisodia. The entrepreneurship and innovation centre will be set up at the Delhi Emporium at Baba Kharak Singh Marg in Connaught Place area of the capital city.

It was further elaborated that the emporium has enough space (almost 7,500 square feet carpet area) to set up the centre. The central Delhi area is also apt to attract young entrepreneurs, almost accessible to all.

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Last year in 2017, an Innovation Summit was held in Hyderabad and that is where the idea to set up an incubation centre in New Delhi originated. Delhi was a preferred location because it is central to the economic, social, technological and educational activities that are organised every now and then that will aid in coming up with a major centre for start-up culture.

Moreover, the incubation centre will encourage entrepreneurs to work closely and ultimately lead to the generation of jobs to give a boost to the Delhi economy. The centre plans to house at least 50 start-ups at a given time.

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The innovation centre will be registered as an independent not-for-profit organisation that will promote close intersection and proximity among the government, corporate houses, academic sector, research sector and of course the start-up community. Hostel and residential facilities will also be provided to the researchers and entrepreneurs.

With inputs from NDTV