US-based marketing software provider Corporate360 has launched an incubator and IT park in Kerala, a state in Southwest India, with a $500,000 investment, according to FinExtra.
Participating startups will receive $20,000 in seed funding, as well as mentorship, help with feasibility studies and market analysis. The incubator will also teach entrepreneurs business communication skills as well as provide leadership support.
The IT park, situated in a rural area of Kerala, will also be home to a hostel, capable of housing up to 25 staff, a sports area and a cafeteria. Corporate360 chose Kerala as company founder Varun Chandran is from the state and the company also has offices there.
Chandran said: “Our new IT park will enable students and young entrepreneurs from central Kerala districts, areas where there are plenty of burgeoning and potential technology entrepreneurs, to leverage Corporate360’s facilities in Pathanapuram Kerala.
“We want to help the next generation of tech entrepreneurs and inspire those in remote rural areas of the region to get into big data.”