Punjab may offer free land to IT firms

To set up an incubation centre in Mohali

In order to sustain, nurture and grow the entrepreneurial ecosystem in Punjab and the northern region, Punjab Infotech has partnered with industry body TiE (The Indus Entrepreneurs) to set up an incubation centre in Mohali.

Also, in order to boost IT investment in the state, the Punjab government is contemplating offering free land to the IT entrepreneurs (who apply within stipulated period) provided the companies assure employment to a certain number of people as per the norms fixed by the state government.

This was disclosed by Industries’ Principal Secretary SS Channy. He added that to promote entrepreneurial atmosphere in the region, the state government, in a joint initiative with TiE, was setting up an incubation centre.

Spread over an area of 12,000 sq ft, the centre would be situated in punCom Technology Park at Mohali. The incubation centre will have ready-to-move-in infrastructure with plug and play facilities, common conference room, IT and communication facilities such as broadband connection, telephone and voice mail.

The state, along with TiE, would assist the incubatees in providing financial assistance via venture capitalists, commercial funding and loans, technical assistance in form of expert counselling to start up entrepreneurs and advice from legal experts.

The state, through this initiative, is committed to encouraging self-employability to young graduates and provide a transit point IT companies that do not have their own infrastructure and require shell space.

It will also promote research and development in the field of software technology.

The government is planning to develop IT hub at Kapurthala spread over 50 acres in the first phase. According to officials, the proposed park would be operation within two years.

Speaking to Business Standard, Punjab Infotech Managing Director R K Verma said, “Very soon, we are going to invite expression of Interest (EoI) from IT companies to access the demand and according we will plan whether to opt for STPI (Software Technology Park of India) scheme or SEZ.

Meanwhile, the state government unveiled the ‘Doing Business in Punjab-An IT Investor’s Guide.’ document that is designed to promote the state as an IT investment destination.