India to have world's biggest startup incubation centre

The Telangana government announced the move as part of the Telangana IT Policy 2016.

Published Date
06 - Apr - 2016
| Last Updated
06 - Apr - 2016
 
India to have world's biggest startup incubation centre

The government of Telangana announced, on Monday, that it will set up the world’s biggest startup incubation centre in India. According to reports, the government will set up 1 million square feet of infrastructure space, in collaboration with the private sector. This will then be used for entrepreneurship activities and startups, over a period of five years. The move is part of the Telangana IT Policy 2016 and was unveiled by Chief Minister K Chandrashekhar Rao yesterday. 

Further, international financial institutions will be roped in to deploy approximately $300 million (Rs. 2,000 crore) worth of aid for entrepreneurs. The government also launched four sub policies on innovation and startups, gaming and animation, rural technology, design, electronics and manufacturing.

“We assure you hassle-free, corruption-free clearances in the stipulated period. We gave approval to 1,691 units after launching the industrial policy last year and of them, 883 have been in various stages of production. We will do so for the IT sector as well, depending upon the merit of their applications,” said Rao, inviting IT companies to invest in Telangana.

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