Internet technology provider Google plans to launch an internal incubator called Area 120 in a bid to retain ambitious staff members, the Information has reported.
Teams from within Google will be required to pitch ideas and, if accepted, will be able to develop them full-time. Participants will also be able to apply for extra funding, or to spin out their ideas into a new company.
Don Harrison, Google’s vice-president of corporate development, and VP of photos and streams Bradley Horowitz will head Area 120, which will be situated at one of Google’s San Francisco offices.
Area 120 will also operate as a subsidiary of Google, rather than Google’s parent company, Alphabet, which oversees investment funds Google Ventures and Google Capital.