Mohali incubation centre: Pact signed for startup

Punjab Chief Minister Amarinder Singh today announced the signing of an MoU for setting up a startup in STPI's incubation centre in Mohali, where the state government has proposed the country's biggest government- supported startup hub.

The MoU was signed between the Department of Industries, Software Technology Parks of India (STPI), Indian School of Business (ISB) and Punjab Technology University (PTU). ISB and PTU will act as knowledge partners of the startup, said an official release.

Addressing a conclave on 'Mohali as next big IT hub in the North', the chief minister also announced a Rs 100 crore fund in collaboration with PTU for the Mohali Startup Hub, to be spread over an area of 45,000 sq ft.

The startup hub would be part of the state government's new policy for startups and entrepreneurship.

The chief minister also launched the Punjab Bureau of Investment Promotion's new Startup Portal, which would connect all the stakeholders.

Interacting with the audience, Singh said he would soon be meeting the Air Force chief for permission to use their air fields for small aircraft (20-seaters) to promote air connectivity in Punjab.

He said he would also discuss installation of CAT III landing with the Army chief and the Union aviation minister.

Listing the initiatives of his government to boost the IT and ITES sector, the chief minister said it has been decided to set up an 'international desk' within the Punjab Startup Hub to facilitate the new investors and entrepreneurs from across the globe.

He further said a special campaign has been launched to woo the Punjabi and Indian diaspora for making huge investments in Punjab.