IIT Guwahati starts incubation centre to help its students turn entrepreneurs

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IIT Guwahati starts incubation centre to help its students turn entrepreneurs
IIT Guwahati
  • IIT Guwahati sets up a technology incubation centre to encourage its students to transform their business ideas into businesses.
  • The centre will provide technical support, business mentoring, and a soft loan facility.
  • The centre also focuses on the empowerment of women in terms of entrepreneurship; it has partnered with NSRCEL-IIMB for Women Startup Program (WSP).
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To encourage its student entrepreneurs, the Indian Institute of Technology Guwahati (IITG) has created a technology incubation centre (TIC), which will provide a place for students to transform innovative ideas into viable business propositions on campus.

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

It 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.

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“IIT Guwahati through the TIC has embarked on encouraging the students, faculty, staff and other entrepreneurs to provide necessary technological guidance and convert their ideas into products and technology that will be useful to the society and make the country Atmanirbhar,” said Prof. T.G. Sitharam, director, IIT Guwahati.

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

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The Institute said that its incubation centre is recognised by the Ministry of Micro, Small, and Medium Enterprises (MSME), Government of India. The grant assistance from The Technology Development Board, under the Ministry of Science and Technology, Government of India, has also been approved to support startups, it added.

It connects to a pool of experts in terms of faculties, funding agencies such as Oil India Limited (OIL) and Numaligarh Refinery Limited (NRL), among others, and other financial institutions like Indian Bank and YES bank.

The centre also focuses on the empowerment of women in terms of entrepreneurship; it has partnered with NSRCEL-IIMB for Women Startup Program (WSP). It has also partnered with Innovations for Defence Excellence (iDEX) in building the ecosystem for startups to interact with the Indian Defence establishment.

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