National Science & Technology Entrepreneurship Development Board will launch Startup Corridor next year that will allow incubators to offer different startup services. Selected incubators will get Rs. 5 crore funding.

Indian Government is planning to build a Startup Corridor. This will act as an incubator for the new startup where professionals and companies can meet, and share their specializations for an efficient startup. The government has planned to spend around 5 crores on the same. Right now India has a booming startup economy. Many new companies have emerged and performed pretty well.

And there will be new coming up. But a recent meltdown has also created some doubts in the mind of investors. For new startup having such incubation, service will clear a lot of doubts and power decision taking. As per HK Mittal, who is adviser and head of NSTEDB, next year startups can start using the services.  He unveils this information at What next 2016 event. Startup Corridor will act a mediator a connection with new startups and the services required to them to sustain for the longer period. There will be resources and experts that will help and guide.

Under the single roof, a startup will get a variety of service to build and develop its platform. This will help startups to save a lot of time in finding professionals or building up a team. Under this different incubators can approach the ministry and create their consortium. Whoever gets selected by the ministry would receive a funding of Rs.5 crore. It will help many incubators to use simply their resources and boost new startups in the market.

Takeaways:

• HK Mittal Adviser and Head of NSTEDB announced Startup Corridor at Whatnext 2016 event
• Startup corridor will bring incubation services under one roof with 5 crore incentive for the selected incubators.