According to official, the incubation centre will have space for 12 startups which can work at a time
Brihanmumbai Municipal Corporation's (BMC) incubation centre policy for startups has received state government's approval. The centre where startup would come up with an idea to solve civic issues of the city will get space and facilities in a month's time. The civic body has already started looking out for people who will operate it.
The infrastructure for the incubation centre has already been created at around 4000 sq metre area in Andheri.
An official attached to the project said that an advertisement has been published for the position of chief executive officer and other staffs for the incubation centre. "We are expecting to complete the recruitment of staff members for the incubation centre and start functioning in a month's time," said the official. The CEO of the incubation centre is expected to be offered around Rs 20 lakh annual package.
According to official, the incubation centre will have space for 12 startups who can work at a time. "The startup will be chosen by a committee that will include municipal commissioner, experts from IIT, professionals from stock market and others," said the official, adding that the civic body has already tied with Indian Institute of Technology-Bombay's (IIT-B) Society for Innovation and Entrepreneurship (SINE).
It is believed that idea of incubation centre was envisaged by Yuva Sena chief Aaditya Thackeray. However, a special purpose vehicle was to be created which required the state government approval.
Official said that the BMC's SPV, which will implement the start-up policy, will be called Society for Mumbai Incubation Lab to Entrepreneurship (SMILE). "The BMC will provide funds, infrastructure and mentoring to start-ups, especially those working on civic and urban planning issues," said the official.
The startup will come up with an idea that can be implemented, the civic body will also give Rs 5 crore order. However, the idea must be focused on the solution of civic issues of the city. "The panelists would screen all the applications and would decide on the time required for the candidate for initial support. Novel and out-of-the-box ideas would be given priority," added the official.
THE BIG PROJECT
- According to official, the incubation centre will have space for 12 startups which can work at a time
- The CEO of the incubation centre is expected to be offered around Rs 20 lakh annual package
- Official said that the BMC’s SPV, which will implement the start-up policy, will be called Society for Mumbai Incubation Lab to Entrepreneurship (SMILE)
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