The BMC is in talks with IIT Bombay to open a technology business incubator (TBI) which would provide startups with the necessary infrastructure and mentoring to tackle civic issues with the use of new-age technology. While the civic body has zeroed in on a location in Andheri for the facility that will be modelled around the TBI run by IIT-B’s Society for Innovation and Entrepreneurship (SINE).
“A lot of bright youngsters these days do not have capital to invest in their idea. Once we sign an agreement with SINE, we will provide a few startups with space at a nominal charge for a limited period. Once their idea takes wings, others will be given a chance,” Mehta told.
Yuva Sena chief Aaditya Thackeray held a meeting with Mehta in this regard on September 26. “They sent a formal proposal for a tie-up on Tuesday. It will take some time to finalise it. It was a part of our manifesto and this is the beginning of making Mumbai a startup hub,” said Thackeray.
According to sources, BMC will provide the infrastructure while SINE would identify, monitor and evaluate the startups with its committee of experts from various fields. Officials from SINE confirmed the developments. It is not clear how many startups will be provided space under the initiative and whether civic body plans to arrange funding for the projects.
“We are in talks with BMC. There is mutual interest in collaboration. But nothing is finalised yet,” Poyni Bhatt, CEO of SINE said.
After Bangalore, Mumbai is seen as a budding haven for startups in India. Many startups, floated by IIT-B students and alumni, are located in and around Powai. The TBI run by SINE incubates around 15 companies.
Source: Mumbai Mirror