IIT Guwahati starts incubation centre to help its students turn entrepreneurs

  • IIT Guwahati sets up a technology incubation center to encourage its students to turn their business ideas into companies.
  • The center offers technical support, business mentoring and a soft loan facility.
  • The center also focuses on women’s empowerment in entrepreneurship; It has partnered with NSRCEL-IIMB for the Women Startup Program (WSP).

To encourage its student entrepreneurs who Indian Institute of Technology Guwahati (IITG) has created a Technology Incubation Center (TIC) that will provide students with a place to turn innovative ideas into viable business proposals on campus.

The center will also provide technical support, business advice and a soft loan facility (subject to availability).

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It aims to promote advances in science and technology, traditional knowledge and biodiversity resources; Facilitate a platform for entrepreneurship and incubation of research mindsets for the development of society; and create an interface between researchers, technocrats and industries.

“The IIT Guwahati, through the TIC, has started to encourage the students, faculty, staff and other entrepreneurs to provide the necessary technological guidance and transform their ideas into products and technologies that are beneficial to society and make the country Atmanirbhar said Prof. TG Siharam, Director, IIT Guwahati.

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These incubated startups will be active in various sectors such as robotics, information technology, water, oil sector, biotechnology, machine learning, internet of things, renewable energy, home automation and logistics, among others.

The institute said its incubation center was funded by the Ministry of Micro, Small, and medium-sized companies (MSME), Government of India. The grant funding from The Chief Technology Development Officerunder the Ministry of Science and Technology, Government of India, has also been approved to support start-ups, it added.

It connects to a pool of experts related to faculties, funding bodies such as Oil India Limited (OIL) and Numagarh Refinery Limited (NRL) and other financial institutions such as Indian Bank and YES Bank.

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The center also focuses on women’s empowerment in entrepreneurship; It has partnered with NSRCEL-IIMB for the Women Startup Program (WSP). It has also partnered with Innovations for Defense Excellence (iDEX) to build the ecosystem for startups to interact with the Indian defense company.

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