Jain Community To Set Up Chain of Startup Incubation Centers All Across India, First One Launched In Mumbai

Starting a new business is a lot of work. Every entrepreneur going through the early stage startup phase can make use of some help and guidance from experts who have done this previously or have some knowledge of how the business world works. In order to provide this guidance to new entrepreneurs and encourage more youngsters to take the entrepreneurship route, the Jain community has decided to set up a number incubation centres across all major metros in the country. The first one among the many will be set up at Andheri, Mumbai.

Called the called ‘Cello JITO Incubation Centre,’ the not-for-profit facility will be providing thorough guidance and handholding to all its occupants. The building for the centre is being provided absolutely rent free by the Cello Group. The centre will be officially owned by JITO Incubation and Innovation Foundation (JIIF), which is a wholly owned subsidiary of Jain International Trade Organization (JITO).

For the uninitiated, JITO, is a multi-stakeholder community of visionary Jain’s who share the commitment to shape the future of the country, especially by working with the younger generation. Having almost 6,000 members, it claims to be single largest organisations of prominent businessmen, industrialists and professionals not only in the Indian subcontinent but also across the globe.

Located at Business Square at Solitaire Park, Chakala, Andheri East, the incubation centre will be spread over 8500 sq ft and have a capacity of 100+ seats. Once operational, the facility will offer its incubatees shared support services like HR, legal, IT and accounts etc. In addition to this, it will also help them in funding and ready market for implementation as per eligibility.

“This facility will help all the budding entrepreneurs in the city and will offer the best of services to the occupants. It is conveniently located and has all the modern facilities that start-ups require,” said Mr Pradeep G Rathod of Cello Group.

This development was first reported in IndiaEducationDiary.

Gurgaon Gets Its First Startup Incubation Centre

Yesterday saw the launch of the millennium city, Gurgaon's (now Gurugram) first startup incubation centre. Termed as the 'innovation campus', the centre was launched by Haryana's chief minister Manohar Lal Khattar during a Good Governance day event at the Haryana Bhawan in the capital city, Delhi.

The centre has been set up in Gurgaon's Udyog Vihar Phase-I by Haryana government's IT department in collaboration with National Association of Software and Services Companies (Nasscom).

The centre will be contribute towards the Haryana government's pledge of creating a start-up ecosystem in the state that will enable all innovative, enthusiastic entrepreneurs with an opportunity to develop interesting concepts and businesses addressing the problems, especially in the state's rural pockets.

India is a land of youngsters with numerous innovative, out of the box ideas. While there's no shortage of ideas and talent, the one thing that the country lacks is providing an opportunity to such people to turn those ideas into reality. Such incubation centres are a great step towards providing the young entrepreneurs in the country a chance to spread their wings and make their dreams come true.

The year 2016 saw many government and private incubators seeing the light of the days in various parts of the country. Some of the states that saw the launch of new startup incubators this year include Bangalore, Chennai, Mumbai and Hyderabad.

Govt. To Set Up 500 Incubation Centres For SMEs across India

There's good news in store for MSME sector. The new government at centre has decided to take various steps to help boost the micro, small and medium enterprises sector, which include opening 500 incubation centres in the country and help India based startups in getting easy loans and finance.

According to Kalraj Mishra, MSME Minister, "We have decided that we will run 500 incubation centres in the country. At present there are only 84 centres. I request the corporate sector to encourage people to open these centres. It will help in providing skills and employment to youth."

He also added that his government would try to ensure that all the public sectors units procure at least twenty percent of their goods from MSME sector.

According to Mishra, "As far as procurement policy is concerned, only 32 PSUs have complied with twenty percent mandatory procurement out of the existing 277 Public sector units."

In order to teach those Public sectors units who fail to meet the mandatory 20 percent procurement by April next year a lesson, the government is planning on amending its public procurement policy.

Incubation Centres work towards promoting and supporting the untapped, undiscovered creativity of individual innovators. It further assists them in becoming world class technology based entrepreneurs. It also teaches them the ways to improve networking and forge linkages with others for the commercialization of their own developments.

In order to provide a higher capital ceiling, the government is also considering revising the official definition of MSMEs.

"MSMEs should not face problem in getting bank loans. MSMEs will help in boosting the country’s economy. The sector is the back bone of the country", said Mishra.

The MSME sector accounts for about 45 percent of the manufacturing output and 40 percent of the total exports of the country. It contributes a total of eight percent of the Gross Domestic Product (GDP). The sector is also the largest job provider in the country after the agriculture sector.

Govt. To Set Up 500 Incubation Centres For SMEs across India

There's good news in store for MSME sector. The new government at centre has decided to take various steps to help boost the micro, small and medium enterprises sector, which include opening 500 incubation centres in the country and help India based startups in getting easy loans and finance.

According to Kalraj Mishra, MSME Minister, "We have decided that we will run 500 incubation centres in the country. At present there are only 84 centres. I request the corporate sector to encourage people to open these centres. It will help in providing skills and employment to youth."

He also added that his government would try to ensure that all the public sectors units procure at least twenty percent of their goods from MSME sector.

According to Mishra, "As far as procurement policy is concerned, only 32 PSUs have complied with twenty percent mandatory procurement out of the existing 277 Public sector units."

In order to teach those Public sectors units who fail to meet the mandatory 20 percent procurement by April next year a lesson, the government is planning on amending its public procurement policy.

Incubation Centres work towards promoting and supporting the untapped, undiscovered creativity of individual innovators. It further assists them in becoming world class technology based entrepreneurs. It also teaches them the ways to improve networking and forge linkages with others for the commercialization of their own developments.

In order to provide a higher capital ceiling, the government is also considering revising the official definition of MSMEs.

"MSMEs should not face problem in getting bank loans. MSMEs will help in boosting the country’s economy. The sector is the back bone of the country", said Mishra.

The MSME sector accounts for about 45 percent of the manufacturing output and 40 percent of the total exports of the country. It contributes a total of eight percent of the Gross Domestic Product (GDP). The sector is also the largest job provider in the country after the agriculture sector.