Sitharaman offers Rs.1.18 cr to Mangaluru start-up incubator

The Dollar Business Bureau

Commerce and Industry Minister Nirmala Sitharaman on Friday announced that she will contribute Rs.1.18 crore to a start-up incubation centre to be established in Mangaluru (Karnataka) from her MP Local Area Development fund.

The Kanara Chamber of Commerce and Industry (KCCI) and Dakshina Kannada district administration are planning to establish the incubation centre in order to boost ecosystem for start-ups in Mangaluru.

“The first start-up incubation centre for Dakshina Kannada will come up in the next four months,” Sitharaman said while speaking to reporters.

The Minister said that the 6,000 sq ft facility at Mangaluru City Corporation (MCC) building in Mallikatta in the city could have accommodation for 60 seats.

She further stated that the Central government would provide basic infrastructure for every start-up which is seeking for space and required infrastructure would be provided to them at nominal prices.

Sitharaman stated that there are many start-ups who need working space for only an hour a day or for a week or perhaps for an entire month. The space should be available to work, sit and ideate subject to the demand from a start-up.

The Minister noted that currently, due to lack of eco-system to start business/industry, several start-ups move to other places.

“While the region has many qualified talents, they should not be made to go away and be given necessary facilities here only,” she added.

KCCI President Jeevan Saldanha said that a start-up incubation centre or co-working space in Mangaluru is highly demanded by the start-ups. The centre will offer an IT ecosystem to start-ups with mentoring from NASSCOM. The discussion with NASSCOM was already held in this regard.

Over 150 IT and IT-enabled services companies are based in and around Mangaluru.

Sitharaman had also stated that with the support of NITI Aayog, her ministry has taken initiatives for setting up of innovation hubs at Nitte Mahalinga Adyanthaya Memorial Institute of Technology in Udupi district and at the National Institute of Technology Karnataka in Mangaluru.