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Nirmala Sitharaman launches incubation centre in Mangalore

Published on December 31, 2017
A start-up incubation centre CEOL (Centre for Entrepreneurship Opportunities and Learning) has been launched at Mallikatte in Mangalore.

  • It will help to promote the Start-up India initiative.
  • It was launched by the Defence Minister of India, Nirmala Sitharaman.
  • This initiative is a part of the “Start-up Coast” project under which Nirmala Sitharaman had proposed that innovation centres would be established along with setting up of the incubation centres in Karnataka.
  • Apart from this, there would be focus on establishing tinkering laboratories and co-working space for the start-ups in the west coast in Karnataka.
  • She had initiated this project when she was the Commerce and Industry Minister of India. 
  • She used her MPLADS (Members of Parliament Local Area Development) fund for this project and has allocated Rs 1.5 crore for the development of these incubation centres.
  • The main objective of this initiative is to provide a complete ecosystem for the start-ups so as to support the creation of jobs there.
  • The incubation centre CEOL is capable of hosting up to 70 entrepreneurs out of which 30 seats have been already booked.

What is Start-up India initiative?

  • It is an initiative of the Government of India first announced by the Prime Minister Narendra Modi in his 15th August, 2015 Independence Day speech.
  • It was formally launched on 16th January 2016 at Vigyan Bhawan, New Delhi. 
  • The prime aim of this campaign is to help start-ups so they can be developed and to catalyse entrepreneurship among people so that they are willing to start their business
  • Its main objective is to generate employment. It is essential for economic development and also motivating the youth of India to indulge in entrepreneurship.

Test Yourself

Who is the current Defence Minister of India?
Answer- Nirmala Sitharaman

Nirmala Sitharaman represents which state as an MP in the Rajya Sabha?
Answer- Karnataka

When was the Start-up India campaign officially launched?
Answer- 16th Jan, 2016

Who is the current Chief Minister of Karnataka?
Answer- Siddaramaiah

The rural India’s version of Start-up India was named as?
Answer- Deen Dayal Upadhyay Swaniyojan Yojana
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