India News | MP Govt to Build Start-up Park in Indore for Rs 450 Cr
Get latest articles and stories on India at LatestLY. In a bid to promote start-ups, the Madhya Pradesh government will construct a start-up park at an estimated cost of Rs 450 crore in Indore city, a senior official said on Wednesday.
Indore, May 4 (PTI) In a bid to promote start-ups, the Madhya Pradesh government will construct a start-up park at an estimated cost of Rs 450 crore in Indore city, a senior official said on Wednesday.
The Indore Development Authority (IDA) has invited global tenders for architectural consultancy and master planning to set up the start-up park on 20-acre land on super corridor in the city, IDA chief executive officer (CEO) Vivek Shotriya said.
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Under the first phase, a multi-storey complex will be constructed at an estimated cost of Rs 450 crore, he said, adding that the IDA will allot spaces to start-up entrepreneurs on lease by charging a fixed amount.
According to officials, the state government is working on presenting its start-up policy on May 13.
“Though, the final programme has not been decided as yet, we are trying that Prime Minister Narendra Modi will give us time to launch the start-up policy virtually,” Indore's BJP MP Shankar Lalwani said.
Earlier, Chief Minister Shivraj Singh Chouhan had on April 29 said that the state government will soon present a start-up policy to provide capital to finance innovative ideas of young entrepreneurs.
According to business insiders, there are 450 start-ups in Indore at present and nearly 250 more will start their operations soon.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)