Union Minister of State for Commerce and Industry, Nirmala Sitharaman will fund around Rs 1.18 Crore in start-up incubation centre from her M.P.L.A.D.(Member of Parliament Local Area Development) scheme in Manguluru to encourage growing start-up environment in the city, according to the reports.
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In her recent visit to the city, Nirmala said that the steps are being taken to create start-up innovation hubs around the state. The incubation centres have been set up at NIT Karnataka in Manguluru and Nitte Mahalinga Adyanthaya Memorial Institute of Technology in Udupi district. Niti Aayog has played a key role in setting up these hubs.
Kanara Chamber of Commerce and Industry (KCCI) said there is a demand of such hubs in the central business location of the district. The KCC has identified 6,000 sqft area at Mallikatta area in the city where a hub could accommodate 15 to 20 start-up companies.
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The start-up incubation centres will be provided with IT ecosystem with mentoring from Nasscom, according to the reports.