Start-up Incubation is a pioneering concept in a country like India, where a range of entrepreneurs are getting new ideas off the ground and changing the valiant of business with time. With the help of these organizations, an uninitiated idea can be formed as a prototype and later on can come out as the desired product within minimum risks. Keeping the same in mind, India’s first start-up incubation facility at metro rail station is going to be started in Bengaluru.
According to reports, a joint venture that has been signed on yesterday evening between the BMRC (Bangalore Metro Rail Corporation) and a city based talent solution company, the Candor Management Service Pvt. Ltd. Going by this agreement, the foundation of the first metro incubation centre will be laid at the Trinity station, situated near Trinity Circle on MG Road. If the media reports are to be believed, the incubation centre will be effective by the end of this month.
Those who don’t know, incubators are virtually non-profitable organisations and they are usually operated by both private and public entities for which such facilities have also associated with schools, universities and others and allow them to feature their role in these programs. It not only boosts the enthusiasm of seeking new ideas but also lets them build a network with another entrepreneur. Moreover, the incubation firms will increase the state government effort with a view to secure the city as one of the renowned startup communities in the world.
Companies which come under the Indian Companies Act 1956 can lay their hands on retail space. Besides, BMRC had also unlocked the doors for startups which are listed on the Karnataka Biotechnology and Information Technology services. Moreover, it also permits e-commerce firms to set up e-kiosks for the business of goods.
As per the reports, the idea of launching business incubation ecosystem at metro station was first raised to talk over in June this year and BMRCL had stated, “Bengaluru is the city of innovation and we have carved out spaces required for start-up companies and e-commerce so that the stations themselves become transit oriented destinations (TOD).”
Want to be a guest author? Register Here to share your business knowledge with our readers.