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Gujarat to do an IIMA, plans a incubation centre

BS Reporter  |  Mumbai/ Ahmedabad 

Taking a leaf out of the Indian Institute of Management, Ahmedabad (IIM-A)'s Centre for Innovation Incubation and Entrepreneurship (CIIE), the Gujarat government has embarked on another ambitious project to set up a world-class innovation and incubation centre in association with Israel.

Making an announcement in this regards at the IIM Conclave on Monday, Narendra Modi, chief minister of Gujarat said, "Gujarat is opening up a world-class incubation centre near Ahmedabad. The project is being developed on a public private partnership (PPP) mode. Experts in various areas are being invited to be part of this. Apart from IIM-A representatives, Israel is also working with us in this project."

According to sources close to the development, a 45-50 acres land has been identified near Ahmedabad. "Apart from innovation and incubation, the centre will also host international conferences in various sectors. The centre will ideally see an investment of Rs 25-30 crore," said sources.

For financial support, some major angel investors have also been invited by the state government to be part of the project.

Major sectors like information technology, energy, biotechnology and clean technology will be focused on by the incubation centre. The centre is likely to come up in next 2-3 months, sources added.

Speaking at the conclave, Modi admitted that IIM-A, alongwith others put Ahmedabad on the global map at a time when the city was not well known apart from the textile sector.

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First Published: Tue, December 28 2010. 02:52 IST