Funded by the Members of Parliament Local Area Development Scheme, the Commerce and Industry Minister Nirmala Sitharaman, has initiated a project, which would provide a complete ecosystem for startups. With state of the art centers, modern incubation setup, labs and co working space for startups are coming up in Karnataka.
There is a rich talent pool in the area, with given the right conditions, can lead to a successful startup ecosystem in the coastal Karnataka. Nirmala Sitharaman mentioned that being an MP from Karnataka, he aims to invest her efforts to ensure that there is enough support for the development of physical and human infrastructure necessary for innovation to thrive in the area. The ‘Startup coast’ is the first step towards shaping the ecosystem. The project was started to make Mangalore as India’s first startup district, which is now being expanded to North Karnataka which includes the districts of Udupi and Karwar. The area would now be known as ‘startup coast’ and an entire ecosystem will be in place in the next two years.
This ecosystem will consist of 100 seater co working space for entrepreneurs in Mangalore. In addition, there will be two innovation centers, five incubation centers in colleges and about 30 tinkering labs in schools. Under the Atal Innovation Mission, Atal Tinkering Laboratories will be established across different schools in the ‘startup coast’. Various schools have applied for the same with Niti Aayog. These innovation centers will be located at the National Institute of Technology in Surathkal and NMAM Institute of Technology under the Nitte University. The commerce ministry is seeking help of IIT-Madras Professor Ashok Jhunjhunwala for the centers.
With a gradual saturation for startups in Bengaluru, Mangalore is now emerging as a center for budding entrepreneurs regards infrastructure, talent pool and funding facilities. Local authorities and Niti Aayog is involved in the project. This co working space will be leased to professionals and is expected to be in place by December. A detailed project report is under preparation to set up the two innovation centers. The Ministry is taking various steps for creating a business friendly environment for the startups in the country.
The purpose behind the ‘startup coast’ is to nurture innovation and drive economic growth and employment opportunities. With a boost given by the Government of India, setting up a startup has become much easier and more talent is being drawn into the direction. With the right infrastructure and research facilities in place, entrepreneurs will be drawn to the co working spaces that offer freedom and allow them to work on their business ideas.