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Kozhikode: A Business Incubation Centre, promoted by Kerala State Industrial Development Corporation (KSIDC), was inaugurated by A C Moideen, Kerala Industries Minister, here the other day.

Situated at UL Cyber Park, the centre has an area of more than 4000 sq. ft., and can accommodate 82 young business entrepreneurs.

KSIDC leased the land from UL Cyber Park for five years.

The first such Centre, set up at GEO Infopark at Infopark, Kochi in 2014, houses 17 startups. This facility is recognised under Central Government’s ‘Startup India’ scheme. The second one was set up at INKEL Tower at Angamaly in 2015 to promote IT-based startups.

To promote and encourage entrepreneurship among students, KSIDC has also extended support to various colleges in Kerala to set up Incubation Centres on their own, according to a KSIDC statement.

KSIDC had also signed an MoU with Inter-University Centre for Intellectual Property Rights Studies of Cochin University of Science and Technology (CUSAT) to spread awareness on the importance of Intellectual Property Rights and to facilitate search and filing of provisional patent applications for inventions of startups, the KSIDC statement said.