WB Govt to set up incubation centre to develop entrepreneurship among youth

Kolkata, July 25 (KNN) With the view to develop entrepreneurship among youth, West Bengal Government will set up a Start-Up Incubation Centre to support the educated youth to help them start their own businesses.

Powered by the State Information & Technology Department and WEBEL, the centre will come up at WEBEL premises in Saltlake area.

A memo will be sent to the State Cabinet for approval of this project.

The State Government is also thinking of setting up a Rs. 100 crore fund which may be utilized as seed capital for the start-up organizations. The Government is planning to provide the initial fund support to them.

Also, in case of diversifying the businesses, the Government will help to rope in foreign venture capital funds.

The IT-based start-up companies which are developing software products will be eligible to be included in the start-up incubation centre. (KNN/ AR)