Google to fire up an in-house start-up incubator codenamed ‘Area 120’
Google is taking steps to provide a home for its most entrepreneurial employees by establishing a start-up incubator codenamed ‘Area 120’, according to reports published in The Information.
This would provide space for individuals and teams to develop their own tech ideas with the backing of Google, with the search giant potentially going onto invest in the most promising products.
Anyone interested in taking part must first draw up a business plan to be assessed by the incubators executives. If this passes muster the team will be offered the chance to work full-time within the division on making their dreams a reality.
Should this take off participants will be able to strike out on their own as an independent company within a matter of months.
Google’s move is being interpreted as an attempt to retain its most promising talent following some high profile defections; most recently Regina Dugan who quit her role as former head of the Advanced Technologies and Projects group who was poached by Facebook earlier this month.