Startup Village : India’s first telecom incubator to take off in April with initial investment of INR 100 Crores
India’s first public-private partnership incubator, Startup Village, is ready to take off from Kerala in the second week of April with a projected investment of Rs 100 crore and the aim of nurturing over 1,000 student start-ups.
The first technology business incubator in the telecom sector, Startup Village will come up in Kochi, looking to emulate the famed Silicon Valley incubators and transform Kerala into ‘Silicon Coast’. Startup Village will focus primarily on student start-ups from college campuses and aims to incubate 1,000 product start-ups over 10 years and start the search for a billion-dollar company from a college campus by the turn of this decade.
Benefits to startups
- Incubatee companies in incubators recognized by the NSTEDB of DST are eligible for service tax exemption for 3 years and upto 50L of revenues.
- Incubatee companies are by default selected to make a pitch presentation to Startup Village Angel Fund. This Angel Fund is backed by the broadest community of entrepreneurs and an investment from this broad group of HNI’s extends their vested interest in the success of your company.
The project is being set up by the National Science and Technology Entrepreneurship Development Board (NSTEDB) under the DST, and the Kerala Government-run Technopark, in collaboration with MobME Wireless – a private firm which began as a student start-up and has grown to become one of India’s top 10 emerging companies.
Watch Mobme story, as told by Sony Joy – cofounder of Mobme at the UnPluggd conference.