Infosys co-founder S Gopalaskrishnan has been appointed as the chairman of CrAdLE, a startup incubator that will run out of Ahmedabad’s Entrepreneur Development institute of India. A sprawling space of 10,000 square feet has been provided by the institute for the incubator to work. The main sectors of focus for the incubators will be food and agriculture business, manufacturing, healthcare and renewable energy.
Along with Gopalakrishnan, the incubator’s board will have a mix of academicians, Venture capitalists, entrepreneurs, technologist and representatives from key organisations. EDII director Dr Sunil Shukla in a conversation with ET said “CrAdLE will take ten incubates each year, targeting to get 30 to 40 ventures out by the end of three years”. S Gopalakrishnan, who is currently the chairman of Axilor Ventures, a privately held venture capital firm, said “It’s an opportunity to share my experience and ideas to make it a successful venture.”
The incubator project will immensely profit form the presence of Gopalkrishnan who is serving the Infosys for the past many years who will bring with him, wide experience and contacts and the know-how of running a business. An IIT alumni, he has been awarded by the Padma Shree Award by the Indian government, the third highest civilian honour, in 2011 for his contribution in country’s growth.
Cisco has also announced an incubator like program in the previous week through which it will be helping the start-ups with the right resources.