ABVIL is an action performed by the Government of Jharkhand in association with Indian Institute of Management (IIM) Ahmedabad to establish a world-class innovation and entrepreneurship ecosystem in the State. The first government-run co-working space was introduced at the Atal Bihari Vajpayee Innovation Lab (ABVIL) near Kanke Road in Ranchi, the previous day. With 24 workstations as a whole, this was the premium step towards their ideology to stock up a workspace to the startups from all Jharkhand’s walls in the state capital. The facility is also presumed to be made accessible for all operations to 12 startups selected by ABVIL entirely free of expense.
Wherein, two workstations would also be allotted to each startup as per their prerequisite they could also interchange ideas and their concepts by learning about marketing initiatives from the team at ABVIL during the same phase.
“The startups will be getting a token amount before the election season begins across the country. They have been promised a monthly stipend and they will be receiving the same the next week,” claimed, Vinay Kumar Choubey, secretary of the department of information technology and e-governance of Jharkhand. “The startups selected for incubation by ABVIL are supposed to receive a monthly stipend of Rs 8,500 for each member for up to three members per startup and Rs 10,500 for women members. While 49 such startups have been selected till date, 20 have completed the documentation,” Umesh Prasad Sah, director of information technology in Jharkhand and interim CEO of ABVIL, stated.
“As of now, we are providing the space and services free of cost to the startups selected by ABVIL. When the building at for ABVIL Ratu Road is ready, we will also be renting out workstations in community workspaces so that more startups have a chance at accessing affordable workspaces in Jharkhand,” Sah marked in a report. D. K. Singh, director of Dhanbad-based BIT, Sindri, also claimed a chance in welcoming the startups that brought legit ideas, selecting them for incubation at ABVIL. “The doors of BIT Sindri is also open for the entrepreneurs who are based in or near Dhanbad as we are also offering our Institute premises for co-working space from April this year. They are welcome to use our resources free of cost to set up their startup ideas into functional business models,” Singh stated.
The current entrepreneurs at the event, also welcomed the action involved by the department. Hemlal Mahato, a Giridih-based farmer who just began an organic farming-based startup with his fellow villagers stated, “Having a corporate presence in the state capital is very crucial to building a market for any startup. The decision to provide us an office space free cost is a huge relief, as we can now have our team members working from Ranchi.”