Entrepreneurship Development Institute of India (EDII), plans to nurture 10 start-ups a year at its new technology business incubator - Centre for Advancing and Launching Enterprises (CrAdLE).
The centre will nurture start-ups in manufacturing, food or agriculture business, renewable energy and health care.
S Gopalakrishnan, co-founder of Infosys, is the chairman of CrAdLE's advisory board and the incubator will be open to selecting start-ups from its students, alumni and other would-be-entrepreneurs.
"Technology business incubators are the need of the hour to facilitate a rapidly evolving start-up ecosystem. We are also going to encourage entrepreneurship for students who wish to start ventures while studying," said Gopalakrishnan.
EDII's incubator will also facilitate speedy commercialisation of technologies developed in academic and research & devlopment institutions and create a robust network.
"Technology business incubation is the natural extension of EDII's present expertise in the areas of entrepreneurial education and research. We at CrAdLE shall provide start-ups not only the physical space to work from, but also mentoring by technology, law, marketing, taxation, finance and other experts to scale up their operations, accelerate their growth and reduce probability of failure," said Mayank Patel, CEO, CrAdLE.