There is a list, officially called Schedule VII, which tells companies what they can do under corporate social responsibility (CSR) as prescribed by the Companies Act, 2013. Of the 10 possibilities, from eradicating hunger to promoting education, the penultimate item in that list is funding technology incubators attached to academic institutions. In the first year of implementation, few companies put CSR money into these incubators.

Incubators help start-ups survive in their very early stages when most of them rely on funding from family and friends. Incubators are valuable to start-ups because besides grants, they give them an office to work out of and act as a platform for networking. The grants to fledging start-ups are anywhere between Rs.25 lakh and Rs.50 lakh..................Read more

Source: livemint