Google announced its plan to create Area 120, an in-house incubator for tech startups. It seems that the high-tech company has decided to create its own in-house startups incubator in order to prevent its employees leaving the company when they have an awesome startup idea.
Google doesn't make data publicly available about how often it's happening that some of its top talent employees are leaving the company. However, the fact that the search giant has now a plan to stop them leaving suggests that the company experiences real issues with holding on to talent.
According to The Next Digit, when it comes to acquiring startups, the past few years had put Google in the lead. Not all those startups have made it under the Google Alphabet, but now the search giant is ready for the next big thing.
Google has decided to discover and nurture the new tech startups in-house. This strategy would save money and time in the long term, according to the same publication. This would also facilitate the process of bringing the new startups on board. The incubator within Google would allow entrepreneur-minded employees to pitch their brilliant ideas directly to the company.
The Information reported that the search giant is preparing to launch a startup incubator called Area 120. The new unit will be led by Don Harrison and Bradley Horowitz of Google Plus. Small startups will need to send a business plan if they want to be accepted to work in Area 120.
In case that their business plan is accepted, they will get a spot in Google's startup incubator to work on their idea full time for several months. If their project is proved successful then the teams will also have the opportunity to receive Google investment and even to transform in a separate company funded by Google.
According to Digital Trends, Google hasn't yet confirmed the existence of Area 120. It is also unclear when the startup incubator will launch publicly.
