Startup Village in Kochi all set to launch phase twoKochi, India | Red Newswire | Dec 30, 7:30 AM IST
The startup village in Kochi has exceeded its target expectations of phase one and is now ready to launch its next phase of operations. The tech business incubator is planning to align itself with Pm Modi’s “startup India” initiative with its second phase.
Sanjay Vijayakumar, Chaimran of startup village said, “In Phase I, we succeeded in creating a seed entrepreneurial ecosystem in Kerala. In the next five years we plan to support 10,000 campus startup teams across the country, completely digitize the incubation process and launch a new business model.”
He said that the report regarding the progress of phase one has been sent to DST (Dept. of science and technology), India.
Startup Village is India’s first PPP tech business incubator. For the expansion of phase two, inputs from Third party audit by prof. Rakesh Basant has also been taken. Prof. Rakesh Basant is professor of economics at IIM Ahmedabad.
Startup Village mentor Kris Gopalakrishnan said, “As Startup Village moves to the next phase, I want to congratulate the Kerala Government on the pioneering initiatives it took to foster the startup environment in Kerala.”
DST sanctioned the development of Startup Village in 2011. The incubator now aims at incubating 48 startups over 5 years. The expansion plan includes completely digital incubation process including application, admission, resource allocation, funding, learning, mentoring and integration.
Vijayakumar said, “Activities of Startup Village will now be completely digital and paperless. It will span the entire incubation life cycle management of a startup."
He further said that around 7,000 applications have been received, forcing to implement digitized process. An initial investment of Rs. 4 crores will be provided by MobME to scale phase two.
The incubator has already launched a beta version of its online digital platform called SV.CO that offers learning course for startups.
Source: ET Bureau