your password has been reset successfully, Please login again.

Nirmala Sitharaman offers Rs183K for Mangaluru Start-up Incubator Centre

Nirmala Sitharaman to give Rs183K to set up incubation centres in Mangaluru for start-ups.
BY BEx Bureau
BusinessEx
Jun 20, 2017

A step towards Start-up incubation is taken up by Union Minister of State for Commerce and Industry Nirmala Sitharaman announced on Friday, that she will contribute Rs183K to set up an incubation centre in Mangaluru, from her Member of Parliament Local Area Development fund.

The Dakshina Kannada district administration and the Kanara Chamber of Commerce and Industry (KCCI) are planning to set up the centre to encourage a start-up ecosystem in Mangaluru.

Demand for incubation centre for start-ups felt by start-ups in the city as per the statements from, Jeevan Saldanha, President, KCCI.

The KCCI and the district administration have identified a 6,000 sqft area at Mallikatta area here. The proposed centre will have around 70 seats and will accommodate 15-20 start-ups depending upon the number of people employed, Saldanha said as per reports from Business Line.

More than 150 IT and IT-enabled services firms are situated in and around Mangaluru.

Saldanha said the incubation centre will provide start-ups with an IT ecosystem with mentoring from Nasscom. The KCCI has already held discussions with Nasscom in this regard, he said.

Sitharaman stated on her visit to Mangaluru on Friday, that with the help of NITI Ayog, she has taken initiatives to set up innovation hubs at the NIT Karnataka in Mangaluru and at Nitte Mahalinga Adyanthaya Memorial Institute of Technology in Udupi district.

Please add your Comment
SIMILAR News
September 24, 2018
Tata Steel will pay $595-650 million for Usha Martin's steel business in cash. ...More
By Vaishnavi Gupta
September 22, 2018
The startup is planning to use the funds to primarily expand operations. ...More
By Vaishnavi Gupta
September 21, 2018
Atman's Founder Chinmay Mirji will join Bengaluru office of HSA as a partner. ...More
By Vaishnavi Gupta
September 21, 2018
In the first year of the partnership, Torino Motors will open 40 exclusive stores for TVS Motor in M ...More
By Vaishnavi Gupta
September 20, 2018
Samara Capital is acquiring 51% stake while the remaining 49% would be acquired by Amazon. ...More
By Vaishnavi Gupta
September 20, 2018
With this acquisition, Jain Irrigation's water management technology product offerings will expand. ...More
By Vaishnavi Gupta
September 18, 2018
Walmart-owned Flipkart is in talks to acquire a stake in Hotstar, Star India’s video streaming servi ...More
By Vaishnavi Gupta
September 18, 2018
UberEats has tied-up with Tata AIG for offering comprehensive insurance covers to its delivery execu ...More
By Vaishnavi Gupta
September 17, 2018
Fluido is the second entity which will be acquired under the leadership of Salil Parekh. ...More
By Ritu Marya
September 14, 2018
The move will ramp up its online grocery business in Mexico and Chile. ...More
By Vaishnavi Gupta
September 13, 2018
The raised funds will be used to build the brand, expand distribution, and increase product offering ...More
By Vaishnavi Gupta
September 12, 2018
It is an all-cash deal, however, the company has not disclosed the financial details of the transact ...More
By Vaishnavi Gupta