Google opens platform for Employees to become Entrepreneurs
Google opened Area-120, an in-house incubator for its employees. Taking a step will inspire many enterprises to initiate a program for in-house staff to prepare them for entrepreneurship.
Google unveils Area-120 incubator for its staff. Employees can prep for new ideas and start their startup journey right there. The tech giant has initiated the process to keep staff involved in the business with higher responsibility. An incubator will guide them to build their idea for a startup and to set up a profitable business. Employees are a valuable asset and especially the ones working for the longer span. So instead of leaving the industry entirely, now employees can pitch a startup idea in Area-120.
The program will help internal staff to go for a startup with their innovative concepts. Powered by Google, there would be a lot of exposure to these concepts. The company will allow employees to speed up the time on their projects. This would be the first unique plan by a corporate company to help employees in achieving their goals, without leaving their jobs. If the idea pitched by an employee has an impact, he/she can receive funds directly through the company.
Having an internal incubator program will promote entrepreneurship among the employees. This would be a direct support from the tech giant to the people working with it. The process in Area-120 is not complicated and anyone who has an innovative idea to bid can submit a plan to the incubator. After approval the employee can work full time on the same to covert the idea into a startup.
- Area-120 is an in-house incubator for those working in Google.
- Employees can devote 20% of their working hours to work on their own concepts.
- Later they can submit the idea to the incubator and once approved they can work fulltime on the same.