Guwahati, Sep19: The Technology Incubation Centre (TIC) of Indian Institute of Technology-Guwahati (IIT-G) has so far incubated 42 start-ups, encouraging an entrepreneurial ecosystem on campus.
These incubated startups will work in different sectors such as robotics, information technology, water, oil sector, biotechnology, machine learning, IoT (Internet of Things), renewable energy, home automation, and logistics, a statement from IIT-G issued here on Monday said.
It may be mentioned that the TIC provides space for new entrepreneurs and young minds to transform innovative ideas into viable business propositions. The centre provides technical support, business mentoring and a soft loan facility.
Established in 2009, the TIC is the pioneering incubator in the Northeast. The centre is spread over approximately 4000 square metres of area within the technology complex of IIT-G.
The centre’s goal is to encourage entrepreneurial initiatives among the students, faculty and alumni of IIT-G and other individuals interested in entrepreneurship across the country and generate a vibrant business-oriented environment.
The centre aims to promote advancement in science and technology, traditional knowledge and biodiversity resources, facilitate a platform for entrepreneurship and incubating research mindset for the development of society and create an interface among researchers, technocrats, and industries.
Speaking about the role of the TIC in encouraging start-ups, IIT-G director T.G. Sitharam said that the institute has through the TIC encouraged students, faculty, staff and other entrepreneurs to provide necessary technological guidance and convert their ideas into products and technology.
IIT Guwahati’s TIC is one of the business incubators approved and recognised by the ministry of micro, small, and medium enterprises (MSME).
Grant assistance from the Technology Development Board, under the ministry of science and technology has also been approved to support start-ups.
Talking about IIT Guwahati Technology Incubation Centre, Vaibhav V. Goud, a professor at IIT-G, said that the TIC has been playing an active role in the north-eastern region by serving as a focal point of interaction between venture capitalists, financial institutions, corporates, academicians, university students, and government members.
“This rich collection of stakeholders allows for an intensive exchange of ideas and enables the creation of quick and efficient solutions to problems that plague young minds,” he said.