Google is reportedly setting up its own in-house startup incubator in a bid to stop a perceived brain drain away from its campus.
One of the key problems of hiring the brightest and most driven minds in tech is that they have the tendency to be both restless and ambitious. Many Googlers leave to pursue their ideas on their own or – even worse – with a rival company.
Google is good at spotting and attracting such talent, but not always at retaining it. It’s a bit of a first world problem, admittedly, but it’s one that Google is said to be looking to address with a secretive new project.
According to The Information, ‘Area 120’ is the name that’s been given to Google’s new in-house startup incubator. It aims to encourage Google’s enterprising staff to develop their ideas within Google’s walls rather than feeling obliged to leave the company to fulfil their ambitions.
The benefits to such enterprising souls are that Google will provide the support and funding that can be tricky to get when you’re operating outside of a mega-corporation. Also, Google will allow staff to work on their better ideas full-time, once they’ve drafted an appropriate business plan.
After an unspecified time period, staff will even be allowed to form a new company – with Google taking its place as a key investor, naturally.
Apparently, Google executives Don Harrison and Bradley Horowitz will manage the new Area 120 initiative.
That’s about it for precise details for now, but it’s an intriguing glimpse into a key problem for one of the world’s biggest tech companies.