Govt asks MPs to consider setting up incubators for startups

While admitting that the Startups may not be able to own/hire working space due to financial constraints, the co-working spaces set up by the government could help translate their ideas into successful businesses

0
596
New Delhi: The Commerce and Industry Minister, Ms Nirmala Sitharaman has written a letter to all Members of Parliament to consider setting up co-working spaces/incubators for Startups in their constituency under the Members of Parliament Local Area Development Scheme Fund(MPLADS). She said this step will promote the Startup ecosystem in the country and help Startups in their constituency make rapid strides towards establishing themselves and also create jobs.
In the letter, Ms Sitharaman pointed out the Startup India initiative of the Government of India envisions building a strong eco-system for nurturing innovation in the country and empowering Startups to grow through innovation and design. She said the Government has been making all-out efforts towards realizing the vision of the Startup India Mission.
The Minister said we have been interacting with various Startups regarding their business needs and support that they expect from the Government. She said one of the crucial aspects that needs to be addressed in this regard is infrastructure. She said Startups may not be able to own/hire working space due to financial constraints, thereby, it was suggested that if Government could support in creating co-working spaces, it could help translate their ideas into successful businesses.