New Incubation Centre to be Set Up by Delhi Government

In a recent announcement made by theDelhi Government, it has officially declared that the state government is working on setting up anincubationcentrein the city that will cater to andpromote theentrepreneurial potentialof the youth.

The plan for the incubation centre has beenapproved by the Deputy Chief Minister of the State - Mr. Manish Sisodia. The entrepreneurship and innovation centre will be set up at theDelhi Emporium at Baba Kharak Singh Margin 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, anInnovation Summit was held in Hyderabadand 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 ultimatelylead to the generation of jobsto 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 facilitieswill also be provided to the researchers and entrepreneurs.

With inputs from NDTV