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Incubator Cells At Second Generation IIT's: Guiding The Entrepreneurial Spirit Of Young Indians
  • Articles
  • Incubator Cells At Second Generation IIT's: Guiding The Entrepreneurial Spirit Of Young Indians

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

Updated on 25 Apr 2023, 09:01 AM IST

India of the 21st century is a very versatile and creatively charged country. With the majority of our population being within the employable age bracket, the competition among talented human resources is huge. There is tough competition among those who wish to be employed as well as those who want to start their own venture. A lot of youngsters prefer entrepreneurship over the 9 to 5 jobs.

Incubator Cells At Second Generation IIT's: Guiding The Entrepreneurial Spirit Of Young Indians
IIT’s Incubator Labs Which Are Helping Entrepreneurial Revolution In India (Source: Freepik)

For such individuals who have the inspiration but need guidance, Indian Institutes of Technology(IIT) across the country are a good playground. Each of the IIT have their own separate incubator labs to make and test the product of the business and convert an entrepreneur’s idea into a product.

Careers360 recently published a study on incubator labs which existed at IITs with the oldest and top seven IITs incubator labs information. This article is a continuation to the oldest IIT’s incubation centre, to know about the opportunities for future entrepreneurs. How they can experiment their product at the incubator labs in second generation IITs. Second Generation IITs are the ones established in 2008-2009 period.

Also Read | Analysis Of Incubator Labs At Old IITs Across India

IIT Ropar


In order to improve the nation's overall entrepreneurial and start-up environment, IIT Ropar established the Technology Business Incubator Foundation (TBIF). TBIF is actively working to advance its goal of encouraging entrepreneurial activity among its students, faculty, and residents of the area. The incubator's focus areas include manufacturing, healthcare technologies, clean energy, agriculture, and information technology and IT-enabled services.

HighlightsInformation

Established in

2016

Space/Size

10,000 sq feet.

Facilities

  • State-of-the-art lab facilities

  • product fabrication lab.

  • Access to computing and cloud infrastructure

  • Fully furnished co-working and individual office spaces

  • conference room, pantry, printing facility and a library.

  • Business Newspaper

  • 3D and Central Printer

  • Dry Pantry Service

  • Digital Multimeters

  • Generous seed funding and soft loan support

  • Mentorship from domain experts

  • Support in legal and financial compliances

  • Access to Angel and VC funding


No.of incubatee and start up companies


18 (Startups Incubated), 18 Startups Funded

IIT Bhubaneswar

IIT Bhubaneswar has built an internal technology incubator as part of a well-considered entrepreneurial ecosystem with the goal of encouraging students to pursue entrepreneurship. The institute's staff and departing students will both have access to this facility.

Highlight
Information

Facilities

Workspace, water, energy, internet and workshops infrastructure, hostel, laboratories and bank lending programmes etc

IIT Bhubaneswar also has a Research and Entrepreneurship Park. It aims to find and foster good inventions by encouraging people to launch businesses. They also provide them assistance such as technical, financial, marketing, and legal aspects of idea incubation. They offer a platform for the quick commercialization of emerging entrepreneurs' technologies.

The institute's cutting-edge facilities will also be available to the companies so they may experiment with their creative ideas. After graduation, startups will not only serve as hubs for new inventions but also contribute to the development of new skilled labour, new employment prospects, and financial investments.

Highlights
Information

SIZE

40,000 square feet

Facilities

  • Seed funding for chosen startups

  • Furnished, semi-furnished, or unfurnished space, internet, power, and water infrastructure, laboratories, workshops

  • Financial and legal guidance, Mentoring, bank loan etc.

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

IIT Gandhinagar

The IIT Gandhinagar Incubation Centre is tenaciously committed to helping companies, faculty and student ideas that have the potential for both economic success and social impact come to fruition. Additionally, the incubator centre offers coaching, connections to experts, investors, and business networks, as well as limited financing. The suitable mentors are introduced to them by the incubator centre so they may expand their technology or goods and find a market. Through an interdisciplinary approach and inventive and creative thinking, it seeks to promote techno-entrepreneurship.

HighlightInformation

Space/Size

10,000 square feet.

Facilities

wet and dry labs, rapid prototyping infrastructure (hardware and software), space and development infrastructure,mentoring, connectivity to professionals investors, and business networks and mentors

Funding programmes

Nidhi Prayas, Nidhi Seed Support

No.of incubatee and start up companies


More Than 20

IIT Hyderabad

IIT Hyderabad’s Technology Incubation Centre- iTIC, is supported by the Department of Science and Technology (DST), Government of India. It aims to foster a nurturing environment for aspiring technology entrepreneurs. The goal of iTIC is to assist business owners in utilising a top-notch research and startup ecosystem to construct a comprehensive platform for practising innovation and entrepreneurship so that these business ideas can be transformed into long-lasting, scalable, and lucrative companies. iTIC focuses on structured pre-incubation, incubation, and accelerator programmes on assisting deeptech startups from the idea to the growth stage.

HighlightInformation

Space/Size

1.5 Lakh square feet

Facilities

Co-working Space, Financial Aid, IP Support, Mentorship, Maker Lab, Networking Events, Software Tools, Technological Infrastructure

Funding programmes

NICE, TiHan, iDex, NIDHI PRAYAS, Miety TIDE 2.0, AISEA, Bel Seed Fund

No.of incubatee and start up companies

100+

IIT Jodhpur

In order to foster a community of cutting-edge businesses, IIT Jodhpur is establishing a technology park and incubation centre on its campus. The Technology Park's main subject is AIOT, or artificial intelligence of things. All economic sectors are anticipated to be impacted by this new technology.

Technology Park under the aegis of an independent section-8 company managed by IIT Jodhpur with the financial and technical support of relevant stake-holders (Government Agencies, Angel and Venture Investors, Technology Providers) will

  • Have a Common Research and Technology development Hub providing access to hardware and software facilities for end-to-end research, prototype development and pilot production of products for AIOT space

  • Provide an interface for industries to collaborate with faculty and students of IIT Jodhpur and other research and academic organisations in the country and Jodhpur in particular

  • Enable interface for mentors and investors including government agencies to work with MSME and start-up’s


HighlightInformation

Established in

Under construction

Space/Size

100 acres

Capacity

Can host at least 30 companies at a time

IIT Patna

The Electronics Systems Design and Manufacturing (ESDM) and Medical Electronics sectors were the focus of the Incubation Centre (IC) at IIT Patna. IC at IIT Patna provides top-notch facilities for manufacturing, testing, prototyping, and design. The goal is to make sure that the IC is the location to transform concepts for medical electronics into reality.

Highlight
Information

Space/Size

30,000 Sq Ft

Facilities

  • 100 clean labs (under construction), seed funds , well-furnished office space

  • Technology Infrastructure, ESDM Laboratories, Office Facilities-such as Conference rooms and meeting rooms, colour printers and copiers, desk, chairs, PC with OS and basic software, white board, pin pad, roll in cupboards and is fitted with industry standard electrical and network connections. etc.

Chargers of using the labs

  • Incubation for Resident candidates:


    • Equity : preferred shares worth 5%

    • Lab usage charges :

    • Only consumables used in the lab incur expenses; equipment use and staff support are free.

    • Rentals: Rs 20,000 (refundable) as a security deposit If a specialised office is required, as appropriate


  • Incubation for Non-Residents candidates:

  • Equity: Preference shares worth 3%

  • Laboratory utilisation fees: Pay as per use

  • Pre-incubation: Free of cost

Funding programmes

NIDHI PRAYAS, NIDHI EIR

No.of incubatee and start up companies


60+

IIT Indore

The IIT Indore has a centre for developing entrepreneurship and supporting start-ups called the Centre of Innovation, Incubation, Entrepreneurship, and Industry Relations (CIIEIR). It runs a business incubator that offers' start to scale' support for technology-based entrepreneurship and makes it easier to turn research into company initiatives. Students may create new technologies and become the greatest entrepreneurs with the help of mentoring, competitiveness development, innovation, and strengthening linkages between industry and students.

The ACE FOUNDATION, started by IIT Indore, supports students, faculty, staff and incubatees with technology-based research projects and helps them convert it into profitable businesses.

HighlightInformation

Facilities

  • Office Space: Air-conditioned office space along with furniture and high-speed Wi-Fi connection are available

  • Seating Facilities: Cubicles are available with revolving chairs to seat more than 30 individuals

  • Meeting rooms: Conference room facility with a desktop and a projector is available

  • Equipment: state-of-the-art instruments and equipment for fabrication and manufacturing, Computer Center

  • Incubator Infrastructure and testing labs

Funding programmes

NIDHI PRAYAS, NIDHI EIR

No.of incubatee and start up companies


37

Sector

Various Sectors which include Agriculture, Healthcare, Machine Learning, Artificial Intelligence (AI), Financial technology (Fintech), App development, etc.

Funds raised

190.4 Lakhs (under DST IEDC, Design and Incubation schemes from Ministry of MSME, MP Startup Centre)

IIT Mandi

Catalyst was established by IIT Mandi in 2016, as the first Technology Business Incubator (TBI) in Himachal Pradesh. As suggested by the name, it acts as a "catalyst" to support and direct entrepreneurial ventures with social and business goals.
Catalyst has become one of the top incubators in Himachal Pradesh and the Himalayan area in just five years after it started. In order to prevent the ideas of tomorrow from dying, Catalyst, one of the nation's busiest incubators, has developed a startup-friendly support system with the help of IIT Mandi.

HighlightInformation

Established in

2016

Facilities

  • It includes everything from conference rooms to technical laboratories

  • dedicated fabrication lab

Funding programmes

NSTEDB, DST Nidhi-Prayas Scheme

No.of incubatee and start up companies


300+

IITs have been the institute of national importance. They have the best facilities in their labs which helps the startup companies become more successful. Every year IITs try to improve all their existing facilities of incubator labs. All IITs give some of its funds to each department labs, for improvement and maintenance.

IITs provide the funding support for the startups as well, many funding programmes are available at the IITs. Some common funding programmes are available at all IITs but each IIT has their own separate funding programme for the incubatee.

Also Read | Upskilling Can Help You Take Charge Of Your Career

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