IIT-B's Research Park - The Innovation Hub that every IIT should have

In a world increasingly propelled by technology, university research makes for the foundation of any nation's economic growth.

In line with this, the much awaited Rs 100 crore Research Park at IIT-Bombay is all set to come up in the Powai campus this year.

Even as the building will take another 2 years to complete, the good news is it will start functioning this year with a few firms who have already collaborated with the institute.

The research park aims to become a facilitator in bringing together IIT Bombay and industry to expand R&D collaboration and promote entrepreneurship.

The new facility will enable IITB to become the nucleus of entrepreneurship in the Powai Valley, similar to the role played by Stanford University in the Silicon Valley and MIT in Route 128.

The facility will provide a diverse range of expertise in areas like energy, aviation, semiconductors, construction, IT and Telecom, automotive, chemical, industrial design, metals/material and Biotech/Pharma.

(Image credits: Midday)