World’s Largest Startup Incubator To Be Operational By Q1 Of 2018
The idea behind India based incubator is to provide mentoring to the entrepreneurs and increase their access to the market
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The world’s largest startup incubator is all set to start work by the first quarter of the next year, said IT and Industries Minister K T Rama Rao at World Economic Forum (WEF), New Delhi. “Walk inside with an idea and walk out with the product, that’s our project. World’s largest technology incubator may become operational by the first quarter of 2018,” he said.
The Centre had agreed to give a push to Telangana to develop the world’s largest startup incubator. The incubator, the largest in the country for start-ups as claimed by the government, is located at the International Institute of Information Technology (IIIT) at Gachibowli, and offers 3 lakh square feet with infrastructure to start-ups willing to pay a fee to use the facility.
Currently, the status of world’s largest tech incubator is held by Station F in Paris, a little over 3 lakh square feet. It is being bankrolled by billionaire Xavier Niel, who revolutionised the French internet and mobile market with his low-cost Free service and is now on a crusade to put French technology on the map.
The idea behind India based incubator is to provide mentoring to the entrepreneurs and increase their access to the market. “Lot of people have the idea but they don’t know how to process it,” he said.
Paytm Founder and CEO Vijay Shekhar Sharma backed Rao’s point and added that many people don’t know how to sell their ideas. “At times, the products made in India are much more valid they lack the people who know how to sell it,” Sharma said. In November 2015, Tata Sons Chairman Emeritus Ratan Tata and Governor ESL Narasimhan inaugurated the first phase of T-Hub, the start-up incubator of Telangana.