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Incubation Labs At Third Generation IITs Strive For The Success Of Budding Entrepreneurs
  • Articles
  • Incubation Labs At Third Generation IITs Strive For The Success Of Budding Entrepreneurs

Incubation Labs At Third Generation IITs Strive For The Success Of Budding Entrepreneurs

Updated on 28 Apr 2023, 09:06 AM IST

Incubator laboratories assist budding entrepreneurs in bringing their concepts to reality and turning them into marketable goods. In other words, it is the best place to forecast the product's future. The focus of incubators is on how ideas should be implemented and turned into reality, and not to let them remain an idea itself.

Incubation Labs At Third Generation IITs Strive For The Success Of Budding Entrepreneurs
An Analysis Of Incubation Labs At the Third Generation IITs (Source: Freepik)

Incubation centres at IITs play an important role in terms of establishing any startup. They provide various facilities which can be beneficial to entrepreneurs who aspire to make it big in the start up industry. From basic facilities to technical and business mentoring, to funding opportunities, access to departmental resources, alumni connections, company registration and filings, accounting and HR services, intellectual property (copyrights, trade marks, patent) filings, venture capitalists or investors introductions, seed funding support and governmental agency funding etc, all can be availed at these incubation cells..

Careers360 has undertaken a mammoth task of data collection and analysis of the incubators labs at India’s premier engineering and technology institutions. Earlier, instalments had details about first, second generation IITs. This is the last copy of the series, where we present details on incubation centres at third generation IIT’s. The third generation IITs were once established in 2012 to 2016, so most of the incubation labs here are still in a setting up phase.

Also Check- Analysis Of Incubator Labs At Old IITs Across India

IIT Varanasi

The IDAPT-HUB Foundation of IIT Varanasi has started a Technology Innovation Hub (TIH) that is an incubation centre to foster ideas and innovations arising from the scientific, technological, and knowledge capital. The hub will help to produce commercially viable and socially impactful products, processes, and services that will contribute to the economic growth and social well-being of the country.

This will be accomplished through setting up the infrastructure required for the development and translation of technology into market readiness. Also by encouraging existing businesses to use technology, and by encouraging the development of start-up businesses. The development of networks between the financial institutions, the service sector, government, and academics will be crucial in fostering the entrepreneurial ecosystem.

Highlight

Information

Facilities

  • Furnished Office Space

  • Shared resources: Meeting rooms, Conference rooms, Library

  • Office productivity equipment: Photocopier, Scanner, Projector, video audio conferencing facilities etc.

  • Lab, - central computing/simulation facilities

Chargers of using the labs

  • Virtual Incubation Charges (Rs. per month)

Early-stage-3,000 Rs.

Expansion-stage -5,000 Rs.

  • Physical Incubation Charges (Rs. per month)

Early-stage-8,000 Rs.

Expansion-stage -15,000 Rs.

  • Utility & Equipment Charges are as decided by the incubator committee

IIT Palakkad

The Technology Innovation Foundation of IIT Palakkad, TECHIN was established to support entrepreneurs, find innovative ideas, and build an effective innovation ecosystem. Also by supporting and enhancing research, skill development, translational research, and product in cyber-physical systems with a focus on intelligent and collaborative systems (ICS). It hopes to increase India's competitiveness, enable sustainable economic growth, and create jobs.

The Government of India’s National Mission on Interdisciplinary Cyber Physical Systems has established the Technology Innovation Hub on Intelligent Collaborative Systems, TIH-ICS at IIT Palakkad. The main motive of TIH-ICS is to coordinate and integrate national efforts encompassing knowledge generation, research, development and innovation.

To support the TIH-ICS, IIT Palakkad created the IIT Palakkad Technology IHub Foundation, IPTIF. The objectives of IPTIF include the development of human resources and skills, the creation of products, the incubation of startups, the promotion of entrepreneurship, and cooperation with other institutions and organisations.

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IIT Tirupati

IIT Tirupati promotes entrepreneurship among its faculty, staff, research scholars, and students in keeping with current trends in higher technological education worldwide. IIT Tirupati will directly and actively promote innovation and business incubation activities.

IIT Tirupati also offers funding for incubation to outside startups that have faculty, staff, researchers, scholars, or students involved as mentors. The commercialization of cutting-edge innovations created at IIT Tirupati as a consequence of incubation will be extremely advantageous to IIT Tirupati as well as society at large and will help our nation's economy recover.

Highlights

Information

Facilities

  • office and operational space

  • Laboratories,

  • workshop facilities and equipment

  • logistics support,

  • Business management advice,

  • Networking support

  • Mentoring

  • Seed-fund when possible

  • Monitoring,

Funding programmes

DST, TDB, DBT, MOE, AICTE, TIFAC, DSIR, CSIR, BIRAC, NRDC, NSTEDB, DRDO, Invest India, Start-up India, MSDE, MSME, MeitY, NGO, and other government and non-government sources.

IIT Dhanbad

The Institute's nodal centre, the Centre for Innovation, Incubation and Entrepreneurship (CIIE) focuses on supporting businesses from the idea stage to growing operations by offering the required assistance and support to entrepreneurs. Funds by CIIE are offered to scale up already existing commercial or social ventures or ideas, commercialise technology innovation(s), or offer services to bigger enterprises.

The goal of the center's design strategy is to create an educational system that promotes entrepreneurship and start-up possibilities for faculty, alumni, and students. It offers means to create an entrepreneurial agenda, manage ownership of intellectual property rights (IPRs), licence technology, and share stock in start-ups or businesses founded by future entrepreneurs.

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Information

Funding programmes

MSME Idea Hackathon, other MSME program

No.of incubatee and start up companies


  • Start-ups (Student+Alumni)- 38

  • Faculty entrepreneurship-05

Also Read| Incubator Cells At Second Generation IIT's: Guiding The Entrepreneurial Spirit Of Young Indians

IIT Bhilai

IIT Bhilai Innovation and Technology Foundation (IBITF) has received funding from the Government Of India’s Department of Science and Technology to operate the Technology Innovation Hub (TIH) for Financial Technologies (FINTECH) area as part of its National Mission on Interdisciplinary Cyber-Physical Systems. The IBITF serves as the focal point for entrepreneurship, Research and development, Human resource development, skill development, and collaboration-related initiatives in the field of financial technologies.

The goals of IBITF are modern financial technology research and development

finding and fostering young professionals and students with entrepreneurial skills. Its focus is on building capabilities and leveraging human resource and skill development at different levels. It makes an effort to help India assume the role of leader in the financial technology revolution. It collaborates on a sustainable ecology on a national and worldwide scale.

IIT Goa

The Centre for Incubation and Business Acceleration (CIBA) is a technological company incubator with offices in Goa and Mumbai. This centre for incubation and company acceleration, supports and nurtures startup firms by offering services including incubation, contemporary office spaces, coaching, networking opportunities, seed investment, and fast prototyping. CIBA is dedicated to expanding a cooperative entrepreneurial network.

Highlight

Information

Establishment Years

2000

No.of incubatee and start up companies


  • Goa - 140+

  • Mumbai -59

Facilities

Conference room, Auditorium, Cafeteria, Training, Meeting room, 3D printing, Networking, Food Processing Lab, Event, Mentoring, Seed funding, Gaming zone

IIT Jammu

The Institute Incubation and Innovation Council (I3C) at IIT Jammu aims to implement the ideas of India's scientific, technological, and industrial think tanks into the country's demand and supply chains for goods and services. I3C pledged to address social issues through rapid advancements in technology by converting the Indian ecosystem to a circular economy. By utilising the gifted and enhancing their talents, I3C strives to incubate, start , accelerate and scale the enterprise while offering the entrepreneurs of Jammu, Kashmir, and elsewhere a strategic entrée into the circular economy. I3C works to foster an innovative and incubatory culture at IIT Jammu.

Highlight

Information

Establishment Years

2021

Facilities

Instruments, Equipment, Labs, Library, Design, Softwares and hardwares

Fee

Various Service Charges and fees need to be paid for several things.

IIT Jammu's pre-incubation cell, the Institute Innovation and Entrepreneurship Development Centre (I2EDC), is where industry-relevant ideas are developed into products that are ready for the market. With the participation of all IIT Jammu stakeholders, the I2EDC is well-structured to process, identify, facilitate, develop, innovate, ideate, and pre-incubate. This formed IIT Jammu Incubation Unit, I3C, assists pre-incubates to incubate their firm through startup mode after ideas are preincubated and prepared to be offered in the market.

This incubator unit is building a thriving ecosystem with the help of mentors from its alumni network and the alumni networks of other IITs, investors, strong backing from government funding agencies, and the technical skills of its teaching community.

IIT Dharwad

IIT Dharwad is working on innovation and research but no such incubation lab is mentioned in the official website of the college.

Each IITs is working towards the improvement and development of its lab with the latest technology and machinery. And due to the boom in the start-up businesses in India, not just IITs but other top institutes of India too are opening up their labs and facilities for entrepreneurs.

Also Read| Goal Oriented Research And Innovation Schools At IIT Delhi

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