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business incubation centre of KSIDC inaugurated

Press Trust of India  |  Kozhikode 

: A Business Incubation Centre, promoted by State Industrial Development Corporation, the third of its kind in the state, was inaugurated by industries minister A C Moideen here today. The centre at UL Cyber Park on the outskirts of the city, is spread over 4000 square feet, is committed to provide the perfect settingfor 82 young business entrepreneurs, a KSIDC release said. KSIDC leased the land from UL Cyber Park for five years and companies carrying IT or IT related operations aregiven access. The first Centre, set up in GEO Infopark at Infopark, Kochi in 2014, houses 17 'start-up's in 116 seats with portfolios in IT andTechnological Skills.

This facility is recognised underCentral Government's 'Startup India' scheme. The second was started at INKEL Tower,Angamaly, in 2015 to promote IT based startup, the release said. To promote and encourage entrepreneurship among students, KSIDC has also extended support to variouscolleges in to set up Incubation Centres on their own, it said, addingone such centre was set up recently at the College Karyavattom KSIDC had also signed a MoU with Inter-University Centre for Intellectual PropertyRights Studies of Cochin University of Scienceand Technology (CUSAT) to spread awareness on the importance of Intellectual Property Rights and facilitating search and filing of provisional patent applications for inventions of start-ups, thus enabling technologicalsupport at a nominal cost for seed funded 'start-ups' established at the corporation's Incubation Centre, the release said. To promote entrepreneurial culture among young generation, KSIDC has started providing financial assistance (seed funding) from 2015 onwards, it added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, April 15 2017. 18:48 IST