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Govt plans doubling incubation centres to promote the culture of innovation

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Making another move to promote innovation and entrepreneurship in the country, the Government of India has embarked upon an ambitious project of doubling incubation centers. Around 20 more incubators will be set up in this year alone, reported PTI. Currently, there are nearly 100 incubation centers across the country in various IITs, IIMs, NITs and other institutes.

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Not just this, the Ministry of Science and Technology has also increased the startups and innovation-centric budget from Rs 40 crore to Rs 180 crores.

Union Minister of S&T Harsh Vardhan said startups would now be given a fund of Rs 1 crore as against the earlier Rs 10 lakh.

The DST has partnered with corporates like Intel, Lockheed Martin, and Boeing to initiate a variety of technology-driven and innovation-based programs.

DST is also partnering with Department of Higher Education of the HRD Ministry to establish research parks and startup centers in various academic institutions of national importance.

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