To be established at the manufacturer’s unit in Gujarat’s Kadi, the incubator will offer technical support as well as its R&D facilities to emerging startups
It will also help startups in developing prototypes, building marketing strategies and undertaking project viability assessment
At the heart of all is the burgeoning Indian startup ecosystem, which has raised more than $154 Bn in funding between 2014 and September 2024
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The Department for Promotion of Industry and Internal Trade (DPIIT) has signed a memorandum of understanding (MoU) with Johnson Controls-Hitachi Air Conditioning India for establishing a startup incubator in Gujarat.
To be established at the air conditioner manufacturer’s unit in Gujarat’s Kadi, the upcoming incubator will offer technical support as well as its R&D facilities to emerging startups. It will also help startups in developing prototypes, building marketing strategies and undertaking project viability assessment, the company said in a statement.
The incubator will offer funding support and provide legal and intellectual property (IP) filing assistance to enable startups to market their products.
Commenting on the collaboration, DPIIT director Sumeet Jarangal said that the partnership will provide “much needed nurturing and guidance to the young innovators and entrepreneurs of the country”.
Chiming in, managing director (MD) of Johnson Controls-Hitachi Air Conditioning India said that the incubator will pave the way for spawning “countless unicorns” in the manufacturing sector.
The company’s manufacturing facility in Kadi develops a range of products, including room air conditioners, commercial air conditioners, and custom air conditioning solutions for specialised applications.
The development comes at a time when a number of companies are establishing incubators and accelerators to foster startups in the country.
Last month, South Korean game developer KRAFTON’s India arm expanded the first cohort of its KRAFTON India Gaming Incubator with the addition of two new startups. Prior to that, internet service provider Excitel’s cofounder Vivek Raina launched an incubator to foster startups in Jammu & Kashmir.
At the heart of all is the burgeoning Indian startup ecosystem, which has raised more than $154 Bn in funding between 2014 and September 2024.
The country is home to 118 unicorns and 112 soonicorns. With a vibrant ecosystem comprising nearly 10,000 investors, as many as 31 Indian startups have gone on to list on the bourses.
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