News is afloat that Google has hopped onto the startup bandwagon. According to The Information, Google is reportedly launching its own startup incubator. According to a few insiders, the incubator is being dubbed as “Area 120” and will be led by long-time Google executives Don Harrison and Bradley Horowitz. The prospect of a startup incubator was discussed recently during an all-hands meeting.
Google’s sudden interest in promoting entrepreneurship won’t go by without people batting an eye. Some experts strongly feel there is a motive behind it. Over the recent years, ever since the boom of the startup industry, several Google employees have left to head their own ventures. Or left to work for a well-known startup. Recently, Google’s powerful lead for the ATAP quit her job to go work for Facebook. While not all of them have been success stories, the fact remains that curious minds are leaving and Google desperately wants to reverse the situation. This new incubator could be a way of achieving just that.
In order to keep the talent in-house, Google will do anything. Area 120 will let some employees pursue their “20% projects” full-time. If your initial business plan submission gets accepted, employees could spend the next several months working on that idea. There haven’t been any details as to how they will provide mentorship or funding opportunities.
While it should be noted that it isn’t difficult to raise investments in Silicon Valley, particularly if you have a great idea. This idea of a startup haven may not end up being what Google imagines it to be.
