Techno-entrepreneur support incubation center to come up in Sanand

The state Government proposed Techno-entrepreneur incubation center of International standard for which the Chief Minister Narendra Modi has invited former Chairman of Infosys, N R Narayana Murthy, to head it will come up adjoining Kens Ville golf course near Nal Sarovar in Sanand.

The state government has initiated the process of setting up a special purpose vehicle (SPV) – Gujarat Foundation for Entrepreneurship Excellence (GFEE) – with a 50:50 equity partnership of Rs 5 lakh each between Gujarat Mineral Development Corporation Ltd (GMDC) and a private company, Gujarat Entrepreneurship Venture Promotion Foundation (GEVPF) to develop the center.

An agreement between the two companies have been inked and the SPV will be formed within the next couple of months. The formation of this company is aimed at supporting innovation and incubate entrepreneurs. The state Government will fund around Rs.10 crore under 2009 industrial policy scheme of center of excellence.

The State Government has already notified 30 acre government land adjoining Kens Ville golf club near Nalsarovar for the center. Leading educationist N.V.Vasani of Nirma University and Dr. Jajoo of IIM Ahmedabad are also associated with the project.