The Hindu Business Line : Sibal plumps for adopting best biz incubator models

Mr Kapil Sibai, Minister for Science and Technology, flanked by Mr Y.K. Modi (right), President, FICCI, and Mr Mohsen Khalil, Director, Global Information and Communication Technologies Department, World Bank Group, at the Global Forum on Business Incubation in the Capital on Thursday. — Kamal Narang

New Delhi , Oct. 14

POINTING out that many research and development (R&D) initiatives in India do not get commercialised for want of investment, the Government has said the system needs to identify and adopt best business incubation models in the country.

"India has a vast pool of science and technology (S&T) infrastructure with over 1,200 technical institutions including 300 universities," said the Minister of State for Science and Technology, Mr Kapil Sibal, speaking at the Global Forum for Business Incubation, organised jointly by Department of Science and Technology (DST), Worldbank and FICCI.

Additionally, India has a critical mass of cutting edge research through 400 national laboratories besides over 1,300 in-house R&D units in corporate and other sectors, with around 0.38 million engineering graduates annually.

"However, the environment and support systems needs to gear up for faster commercialisation of research and development outputs despite barriers to the same," he added.

The Government, in its attempt to plug the existing gaps has initiated a number of institutional-based programmes including Science and Technology Entrepreneurs Park (STEP) and the recently launched Technology Business Incubator (TBI), added Mr Sibal.

Additionally, Mr Mohsin Khalil, Director, Information Communications Technology (ICT) Group, World Bank, said that the concept of business incubators is likely to have more significance in developing countries than in developed countries in the times to come.

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