Hyderabad: Kochi-based start-up Village, India’s first incubator has expansion plans
Kochi-based start-up Village is India’s first incubator that is funded jointly by the public and private sectors. This start-up village is adding about 1.25 lakh square feet space as part of the plan to house and support more start-ups. The additional spaceis expected to be ready by June next year. The chief executive officer of this start-up village Pranav Kumar Suresh stated that this additional space will allow the Start-up Village to house about 150 companies.
Currently it is operating from a 15, 00 square feet space and is incubating 50 start-ups on the premises and 500 start-ups virtually. In these virtual start-ups, the members use the Start-up Village address for business communication.
Suresh also stated that the incubators are yet to figure out a revenue model that will suit them. The Village does not take equity in any of the company it is supporting as an incubator. It gets rent for providing space to start-ups and as of now that is the only source of income for the start-up Village. Typically a start-up has three-four members and takes about 300 square feet space.
The incubator, which is planning to add more revenues channels, would like to tap the CSR (Corporate Social Responsibility) funding channel for sustaining the momentum. It is also looking at offering specific training modules for start-ups.
Source- Financial Chronicle
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