Despite being one of the best employers on the planet Google has had trouble keeping some of its best talent around. Talented employees at Google often leave the company to start their own company, project or join a high flying startup. And now, the Search Giant is said to be looking into helping them do just that by creating a startup incubator within Google.
A new report from The Information claims the Search Giant is starting its own in-house incubator for startups, where employees would be allowed to launch their own startups.
The incubator would be named as “Area 120” and itr will be supervised by long-time Google executives Don Harrison and Bradley Horowitz, according to people familiar with the project.
Details are being worked out, but employees at Google will likely pitch business plans to the incubator and, if approved, can work on their ideas for a few months. The teams can then invite Google to be an initial investor in the startup.
Other details are scarce for now but as of now the source from where this news had originated from says that this new in-house incubator can be thought of as an extension of Google’s noted 20 percent time — the idea that Google employees can spend 20 percent of their time working on independent projects. Similarly, Google is considering having “entrepreneurs in residence” program where experienced founders who have successfully ran their own companies will be involved for added guidance.
The “Area 120” program will likely try to capitalize on Google’s unique culture and take notes from Y Combinator, Silicon Valley’s most successful incubator.