If you’re dreaming of becoming an entrepreneur and have a business idea, here is some good news.
The Hyderabad campus of Birla Institute of Technology & Science (BITS) Pilani is ready to develop 23 ventures in its new technology business incubator.
“We have just selected seven ventures for incubation and can add another 23,” campus Director V. S. Rao told Business Line.
Of the seven, four belong to students of the institute, he added.
The main focus of the technology business incubator, which was launched last month, is the use of information and communication technology in healthcare and pharma.
“We simply go by the merit of a concept. Apart from freshers, those who burnt their fingers earlier but want to try again can also apply, as the entrepreneurial spirit is important,” Rao said.
Though the institute expects to make the selection process quarterly, there will be no timeframe for a ‘great idea’, he added.
The incubator has been set up with support from the Government and the institute’s funds.
The ventures/projects would be provided complete infrastructural support and mentoring, apart from business consultation.
Set up in 2008, the BITS Pilani campus in Hyderabad has been increasing its focus on research.
It now has over 170 research scholars working in diverse areas, including pharma, biotech, chemistry, physics and engineering sciences. The sponsored research funding was over Rs 28 crore. “We have also been selected for further research in certain areas,” the director said.
The faculty strength is also being ramped up. By the end of the next academic year, it will go up to 185 from the current 150, Rao said.
On placements, in general there is a seven to eight per cent decline due to the challenging economic environment and trimming of fresh recruitment, chiefly by IT and ITeS firms, he said.