Mangaluru is very likely to become India’s first Startup City

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Mangaluru/New Delhi: Mangaluru is very likely to become the first Startup district in the country for the first time. According to Union Minister for Commerce and Industry Nirmala Sitharaman who is also representing Karnataka in Rajya Sabha, the union government is planning to develop Mangaluru as Startup district by establishing new incubation centres and facilities promoting innovation, agriculture, education and others.

Total expenditure of the project is yet to be known. However, the union government would sanction funds and other essential resources to the planned project. According to the project, Mangaluru city is expected to get India’s largest incubation facility.

For the time being, startup units in the country are facing lack of financial support from investors. Therefore, incubation facilities in cities like Mangaluru are expected to support new startup units by providing financial support from government funds.

 

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