A new startup hub will be launched by the Haryana state government in the next few years if everything goes according to plan.

Global Startup Village, the name of the planned startup hub, will be built in Gurugram following the model of public-private partnerships and is set to be the biggest of its kind in the country. In addition to the hub, the government of Haryana has announced its fund for startups worth Rs 100 crore.

“The idea behind the startup village is to create a space for entrepreneurs and researchers, where they can do their research and put their ideas into action,” a senior government official told Times of India. “With this village, we wish to strengthen Gurugram’s image as an international startup hub.”

Both the startup hub and the Rs 100 crore fund fall under the Haryana Entrepreneur and Startup Policy 2017. The policy, announced last year by the state government looks to promote and support startups and entrepreneurs in the state. The Global Startup Village is expected to span 2.5 acres and will include research and incubation centres, according to the official.

“Such a facility would be of much help for entrepreneurs and those planning to launch start-ups,” Pranay Sharma, founder of tech startup Parkzap said. “However, the government must ensure they don’t restrict it to just start-ups, but also provide resources for testing labs.”

The hub is meant to follow in the footsteps of T-Hub, built in 2015 and spanning 70,000 sq. ft. in Hyderabad. The T-Hub was built by Telangana’s state government in partnership with the Indian School of Business and IIIT-Hyderabad.

According to officials, the hub is still in the stage of the project report after which, in combination with estimates, the government can move on to the aspect of funding. The official also said talks for possible partnerships will be had after the phase of the project report.

“We have finalised the venture-partner for the funds and are currently in talks with banks for the managing partner,” the official said.

(Picture courtesy: https://www.t-hub.co/)