The State Government signed a Memorandum of Understanding (MoU) on Monday with Indian Institute of Management (IIM), Ahmadabad for technology business incubator at Agnel Ashram, Verna.
Agnel Charities through Padre Conceicao College of Engineering has entered into a Memorandum of Understanding with Centre for Innovation, Incubation and Entrepreneurship (CIIE), Indian Institute of Management, Ahmadabad; and Department of Science Technology and Environment, Government of Goa.
The MOU envisages providing support services to the incubation activities including product development, commercialization of technologies, etc.
Agnel Technical Education Complex, Verna; is setting up a technology business incubator at Padre Conceicao College of Engineering with financial assistance from Department of Science, Technology and Environment, Government of Goa.
An incubator is a physical location that provides a defined set of services to individual or small companies which is an approach to accelerate the development of technologies, industries and business skills.
Speaking on the occasion, the Chief Minister said that the incubator will protect and facilitate technology driven business development in the early stages and provide an environment that helps new business overcome early stage hurdles.
Power Minister Aleixo Sequira stressed the need to develop business skills and entrepreneurship among the Goan youth. Setting of new business incubator will help the Goans to achieve business skills and will open the avenues for employment.
CEO of IIM, Ahmadabad Kunal Upadhyay informed that the thrust areas of the technology business incubator will be clean technology, solid waste management, food processing, etc.