Goa state government on Thursday approved the land transfer of over 12,000 sqm belonging to the directorate of skill development and entrepreneurship, to the department of information technology at Porvorim, Panaji for the purpose of creating a startup-related ecosystem in the state.

Chief minister Manohar Parrikar said that the cabinet has approved the land transfer proposal. The cabinet note stated the government intends to make Goa as one of the most preferred startup destinations in India by developing a startup-related ecosystem that will feature among the top 25 startup destinations in Asia by 2025.

The government intends to develop an incubation, acceleration and co-working facility at Porvorim, thereby developing a startup ecosystem facility for technology startups in Goa.

Two plots admeasuring 4,073 sqm and 8,382 sqm at Porvorim, currently in possession of the directorate of skill development and entrepreneurship, have been transferred by the government.

The above development was first reported in Times of India.

In March this year, the state government had setup a startup promotion board and also allocated around ₹15 crore for startups.

Notably, for new businesses and startups, the state do have few incubators such as Centre for Incubation and Business Acceleration (CIBA), a public-private venture set up in April 2012 with support from Department of Science and Technology, government of India, and Department of Science, Technology and Environment, government of Goa.

Another incubator in Goa, set up by the Indian government's Department of Industries Trade and Commerce and the Goa Chamber of Commerce and Industry, is the Goa IT Innovation Centre (GITIC), which mentors and facilitates funding for startups through low-cost infrastructure and access to business networks.

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