New Delhi: The ministry of science and technology on Thursday signed an agreement with leading management school Management Development Institute (MDI), Gurgaon to set up a technology incubation center to foster “start up spirit” and help students and faculties become entrepreneurs.
The incubator will have a capacity to set up 30-start up companies. It will be networked with industries, banks, venture capitalists and government departments both for funding and guidance.
This engagement, for an initial period of five years, will provide a managed workspace with low cost office facilities, business, and professional services necessary for nurturing and supporting early stage growth of technologies and technology based enterprises. DST & MSME (ministry of micro, small & medium enterprise) will assist startups at critical stages of the enterprise through grants.