Economy

IIT Alumni Council’s Mega Incubator to set up six research centres for start ups

Our Bureau Mumbai | Updated on September 04, 2020 Published on September 04, 2020

IIT Alumni Council is to set up six research centres, which will be operational in 2021, to conduct research and promote innovations through its Mega Incubator.

Earlier in July, the council launched Engineered Biomolecule Mega Incubator (EBMI), an initiative to align start-ups in India's offensive against the Covid-19 pandemic.

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The research centres will set up for engineered biomolecules, quantum technologies, nuclear sciences, electric transportation (including drones), BFSI (including fintech) and Imaging AI. The centres will be either co-located or established in the vicinity of existing government and academic institutions that specialise in these areas, it said in a statement.

“The objective of IIT Alumni Council is to support the Prime Minister's vision of Atma Nirbhar Bharat through accelerated deployment of cutting edge technologies. Playing a lead role in revitalising the incubator and start-up ecosystem in high-tech domains is our primary focus,” IIT Alumni Council President Ravi Sharma said.

“We are working towards empowering an alumni-led innovation movement supported by private capital and independent volunteers. The research centres, and our various other initiatives, are in pursuance of this larger goal. In the last six months, we have aggregated over 10 million man-hours of alumni time as their contribution to nation-building. This is unprecedented and gives us the confidence to march ahead,” he added.

Incubatee applications will be accepted from September 5, and the first batch of incubatees would be announced on October 2, 2020.

“We are using the learnings from Zone Startups India and our global partners to build a phygital incubator framework that every start-up will aspire to be part of,” said Hemant Gupta, an IIT alumnus, MD of Zone Startups India – and head of the BFSI Research Centre.

Zone Startups India manages close to 50,000 sq ft of incubator space in the BSE Building in Mumbai and the Banaras Hindu University Campus.

IIT Alumni Council is a global body of alumni, students and academicians across all the 23 Indian Institutes of Technology (IITs) and partnering Institutes of the India Innovation Network (I2Net).

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Published on September 04, 2020
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