Startup Incubation

Goa Gets Startup Incubation Centre ‘FiiRE’ with ₹10 Crore Grant from DST

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On Friday, Goa finally got a much needed startup and entrepreneurship incubation centre at Fatorda, Margao region. Named as Forum for Innovation Incubation Research and Entrepreneurship (FiiRE), the incubation centre was launched at Don Bosco College of Engineering, a Goa University affiliated institute established in 1970.

Established with the support of Department of Science and Technology (DST), Government of India under the National Initiative to Develop and Harness Innovation, FiiRE is dedicated towards helping move the startup process from the garage to the laboratory.

“FiiRE aspires to be the ‘GO TO’ Technology Business Incubator in the country supporting one hundred startups by 2023,” says the FiiRE website.

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The incubation centre aims to implement a structured incubation process to make the startups invest-able and leverage the strengths of the ecosystem to help startups scale faster.

The incubation centre will get Rs 10 Cr grants from DST and Agriculture Department of Goa state government would provide FiiRE an additional Rs 25 lakh to be used for startup ventures dealing with agriculture.

Besides providing incubation and co-working space to startups and entrepreneurs in the state, FiiRE will also provide access to government funding agencies, Seed fund including access to Angel Investors and Venture Capitalists.

FiiRE is now inviting free pre-incubation offer and interested startup/entrepreneurs can apply here.

Last year in March, the state’s chief minister Manohar Parrikar had announced allocation of Rs 15 crore budget for startups in Goa as well as a separate allocation of Rs 50 lakh to encourage incubation centres and entrepreneur development centres in the state.

Later in December of same year, Goa state government had also approved the land transfer of over 12,000 sqm belonging to the directorate of skill development and entrepreneurship for the purpose of creating a startup-related ecosystem in the state.

Source – Goa Chronicle

[Top Image – Weekend Travels]

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Suman Chaudhary
An engineer by education and writer by profession, Suman keeps tab on startup ecosystem of India and leads the research team of IndiaWeb2 for covering funding deals, merger & acquisition and market reports.

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