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Karnataka govt announces setting up of start-up warehouse NextGen

Tags: nasscom, nextgen, entrepreneur, startups, sme, msme, karnataka, accelerator, incubator, startup warehouse, hackathon

August 29, 2014 | COMMENTS ( 0 )

Karnataka govt announces setting up of start-up warehouse NextGen

With an intention to boost global image of the city to emerge as an important destination on the global start-up and innovation map, Karnataka government recently announced various initiatives, including the setting up of start-up warehouse NextGen. 

 

The 50,000 sq ft warehouse NextGen facility which is being set up in partnership with industry body NASSCOM will house and integrate India's first Hack-celerator, a unique combination of a hackathon and an accelerator. 

 

The new facility will also house Internet of Things (IoT) lab, Design Center of Excellence (Design CEO), Mobile Devices Lab among others. 

 

"We propose to set up a 50,000 sq.Ft Start-Up Warehouse NextGen-cum-India's first ever, Hack-celerator and Internet of Things (IoT Lab). Hack-celerator, a combination of a hackathon and an accelerator, will be one of the first few in the world, in association with NASSCOM and a few big global and Indian IT majors," Minister for IT, BT and Science & Technology and Planning & Statistics, R Patil said. 

 

Start-Up Warehouse NextGen will be the hub where technology entrepreneurs with innovative ideas will be nurtured, mentored as well as funded by venture capitalists. 

 

Karnataka government recently celebrated the first anniversary of its first Start-Up Warehouse of 10,000 sq ft in partnership with NASSCOM. The facility resulted in 28 start- ups creating more than 100 jobs and bringing in USD 1 million of investment. 

 

Srivatsa Krishna, Secretary to Government, Department of IT, BT and S&T Government of Karnataka, said "This Hack-celerator that is being integrated in the warehouse will be first of its kind in the country and second in the world;...There is one other Hack-celerator to the best of my knowledge which exists in the world and that's called Angel Prime and that is in San Francisco." 

 

"Angel Prime is privately run, privately funded; this is perhaps first time in the world that the government has taken up initiative to set up a Hack-celerator," he added.

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