IIT Patna recently received a total Rs 47.1 crore from the central government’s department of electronics and information technology and the Bihar government to set up an incubation centre for electronics system design and manufacturing (ESDM).
The institute is approaching the ministry of human resource development and department of science and technology to set up another technology business incubator ( Rs 5 crore) that will focus on agriculture, among other areas.
At a time when the government is pushing for startup incubation, a culture shift is underway at the new IITs, which have put their incubation plans on fast track. Several of the new IITs, including the ones in Patna, Ropar, Mandi, Gandhinagar and Hyderabad, are in the process of setting up new incubators and strengthening the existing ones.
“The government is giving so much importance to incubators that no one can ignore. The government push definitely forms a background for the new culture of incubation at the new IITs,” said Mayank Tiwari, associate dean, research and development, at IIT Patna. The institute is setting up the infrastructure for the incubators. Students have already started coming up with ideas and the institute is open to anyone from India who would like to incubate an idea.
The promised funding for the incubator is encouraging the faculty and students towards a culture of incubation, said Bhavender Paul, professor-in-charge at IIT Mandi Catalyst. “They have begun to expect that they may receive support for any ventures they may start.”
Paul said, “With the expectation that DST funding shall become available soon for IIT Mandi Catalyst, our incubator expects to begin offering support to innovative ventures in a not too distant future.” The facility at IIT Mandi, of about 11,000 sq ft, is expected to become operational this year. It will facilitate administrative and technical support for innovative startups.
Prime Minister Narendra Modi announced the ‘Start-Up India’ initiative on Independence Day last year, and the action plan for it was rolled out in January. Among the many plans under the initiative, one is to set up 35 incubators in institutions.
“The idea is to push for more innovation among all IITs, including the newer ones. This will help generate confidence among students and faculty alike around innovation,” said SK Jain, director of IIT Gandhinagar.
IIT Gandhinagar, which already has one incubation facility in place, will use the Rs 5 crore it has received from the government to strengthen the existing centre.
“The one that is running currently is on a low key due to lack of funds, but now, with the grant from the government, we will be able operate on alarger scale,” Jain said. Meanwhile, IIT Mandi Catalyst is in the process of being registered as a Section 8 company.
Initial funding is being provided by IIT Mandi and the National Science & Technology Entrepreneurship Development Board of the department of science & technology. In addition, the technology institute itself has been increasing awareness about startups through its entrepreneurship cell (E-Cell) and its entrepreneurship course . IIT Mandi already has had an E-Cell and has been offering an entrepreneurship course to nurture innovative ideas. Also, there is drive among the students to have their own startups.
While some students are running their own startups in the 3rd and 4th year of their undergraduate degree, several faculty members too are exploring the possibility of their own startup.
Source: The Economic Times