The Indian government is going all the way to make sure that it provides the Indian Startup Industry with the best of facilities possible to grow and flourish and compete with the world. After launching the Startup India initiative, the government is now considering getting the country a ‘Startup Corridor’ of its own.

The Startup Corridor is going to allow incubators to create a consortium, an organisation where they will be able to share their special incubation services and expert guidance with all the Indian startups. The NDA government will not only build the facility but also provide the consortium with Rs 5 crore initially as a financial support to get started.

Since incubators in India generally do not have all the resources and expertise required by a startup at one place, the startups often have to settle or go on a incubators approaching spree in order to find the right one for their business. In this process, they end up losing a lot of their precious time and often end up deviating/compromising from their real product or service.

The big announcement came during the icreate organised Whatnext 2016 startup event in Ahmedabad. “We are in the process of coming up with ‘Startup Corridor’ and it would be soon implemented in next financial year,” said HK Mittal, adviser and head of National Science & Technology Entrepreneurship Development Board (NSTEDB) at the event.

The currently in pipeline Startup corridor is going to work under the science and technology ministry and NSTEDB is going to be the nodal agency implementing the whole initiative. The increase in budgetary allocation in for NSTEDB to a whopping Rs 80 crore in Budget 2016 as compared to Rs 40 crore in the current fiscal proves that the government is raising the bar of its support to the startup ecosystem of the country.

Multi-disciplinary incubators will be given a chance to build a consortium and approach the Ministry of Science and technology, under the Startup Corridor initiative. The selected ones will also be rewarded with a Rs. 5 crore funding. Startups in need of multi-disciplinary incubation support will benefit greatly from this and it will also help them save their precious time. Further, different incubators will also get a chance to get together and incubate a startup pooling each-others resources.

The National Science & Technology Entrepreneurship Development Board is also contemplating holding a National Initiative for Development and Harnessing Innovation programme under the Startup India blanket.

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