An official statement said Deputy Chief Minister Manish Sisodia had approved the setting up of the centre at the Delhi Emporium on Baba Kharag Singh Marg in central Delhi.
Sisodia said the emporium has sufficient space to accommodate the proposed centre and is ideally located to attract young entrepreneurs easily.
The emporium has a total carpet area of 7,476 square feet.
The idea of setting up an incubation centre was developed during the Innovation Summit at Hyderabad in November last year.
“Delhi being the national capital and centre of economic, social, educational, and technological activities is ideally placed for developing itself as a major centre of innovation and start-up culture,” said Sisodia.
The innovation incubator will work with entrepreneurs and raise the profile of its community of innovators and start-ups, thus creating jobs and help Delhi economy.
It will house at least 50 innovators and start-ups at any point of time.
It would be an independent registered non-profit organisation and become an intersection for the start-up community, government, corporate, academic and research sector.
It will have a hostel-cum-residency facility for the entrepreneurs and researchers.