SURAT: The first phase of
Surat Incubation Centre would be launched in June 2018 to cater to people’s
entrepreneurship spirit, a first of its kind initiative in the country under the
Smart City Mission of the central government.
Surat ideas and innovations lab (SURATiiLAB) would be created as a special purpose vehicle (SPV) to give a boost to startups besides diamond and textile sectors. Both —
Surat Municipal Corporation (SMC) and Surat Smart City Development Limited — will have 50 per cent stake in the SPV. SURATiiLAB would be a single window facilitation centre for entrepreneurs and will help nurture the industrial ecosystem right from diamond, textile and food processing industry.
The project will promote innovation, incubation and aid startups besides being involved in trade facilitation in Surat, billed as a top performer in the implementation of Smart City schemes. This is essentially a two-phase project. The incubation centre would come up at SEPC building at Udhna under the first phase at a cost of Rs 3 crore within 12 months time. It would have 120 seats for training local entrepreneurs, amphitheatre and cafeteria. The phase two of the project would see construction of an iconic building at Parvat Patiya at a cost of Rs 16 crore.
“The project aims at promoting local innovations and creating opportunities for products made in Surat. Extensive consultations with industry, industrial associations, educational institutions and startups were done to assess the requirement of the industrial ecosystem of the city. It is hoped that the support of all stakeholders will make Surat as an innovation and startup hub of the country,” special commissioner, Surat Smart City project, M Nagarajan said.
Grant from NITI Aayog sought
Surat: SMC has made an application for allocation of funds to NITI Aayog under Atal incubation grant. It is likely that the project would get the grant.
