Entrepreneurship Industry News

Start-ups to get cheaper work space as Minister taps fund

A shared working space facility will be created in Mangaluru for the benefit of start-ups which usually prefer tech capital Bengaluru which has become expensive and has limited workspaces to offer, according to Commerce and Industry Minister Nirmala Sitharaman.

She has sponsored a new co-working space for start-ups in Mangaluru from her Members of Parliament Local Area Development Scheme (MPLADS) fund and plans to write to all parliamentarians to help new ventures in their regions.

“As a one-off experiment, as an MP, I have taken it up in Mangaluru to have a co-workspace [shared working space] created there,” she said. “The majority of the talent from coastal Karnataka is moving towards Bengaluru, which is over-serviced and is becoming expensive for many of them to even look for a co-work space,” the Minister, who is also Rajya Sabha MP from Karnataka, said.

The facility, with a capacity of 60 seats, will be operational in a month. “Two days ago, I was in Mangaluru to inspect the space given by the municipality. I was so encouraged that all 60 seats have already been booked.”

“That is the extent to which people are expecting to catch on the start-up ecosystem,” Ms. Sitharaman said after unveiling launching a Start-up India Virtual Hub here. where budding start-ups can interact with all stakeholders, including incubators and financiers. Ms.Sitharaman will now write to all Members of Parliament to extend such assistance for start-ups in their vicinity.

“Just the Atal Innovation Mission, Human Resources Development Ministry or the department of science and technology can’t do everything for us in the start-ups space. “The PM has said every district should have a start-up to show… if not every district, MPs can at least help in areas where people approach them. The MPs should help create the environment that the PM is talking of,” she said.

Read More: The Hindu