Education

Kerala engineering colleges can apply for business incubator status

Our Bureau Thiruvananthapuram | Updated on October 12, 2012 Published on October 12, 2012

All engineering colleges in the State will be encouraged to apply for a ‘technology business incubator’ (TBI) status.

They can apply to the Department of Science and Technology (DST), Government of India, and seek to obtain the status within the next six months.

KEY ENABLER

This provision in the student entrepreneurship scheme announced here on Thursday is expected to be a key enabler for universities, colleges and polytechnics.

Among others, the scheme offers duty leave and grace marks for recognised student enterprises floated within the campus. DST has established a number of TBIs and science and technology parks across the country.

They are housed in premier academic institutions to nurture entrepreneurs in varied technology and knowledge domains. Incubators are a capital-efficient method for stimulating technology innovation and job creation.

CAPITAL-EFFICIENT

They are an effective tool for technology transfer, innovation, generating skill-based jobs and for local economic development. TBIs are a critical component of the entrepreneurial support infrastructure which has proved to be significant generator of new jobs.

By focusing on development of a new generation of entrepreneurs, incubators help in building companies that create jobs and spark economic growth locally. Under the student entrepreneurship scheme, three stages will be recognised in the incubation process.

THREE STAGES

State one is ideation. This is the stage for generating, exploring, and evaluating new technology/business ideas that can give the business proposed by the student entrepreneur a competitive advantage.

The expert committee formed for evaluation of ideas should interview each entrepreneur and analyse the business potential and feasibility.

Next is team and company formation. The team should ideally have a mix of co-founders with complimentary skill sets.

The team will have to register as a private limited company/limited liability partnership (LLP) of any legally recognised entity.

The third is prototype development and starting of business. The prototype will need to be certified by experts for commercialisation of technology transfer.

APPROVED TBIS

If it is a business service idea, the company or legally recognised entity should start the business operation as per business plan and start generating income.

Approved TBIs in the State are: Technopark TBI, Thiruvananthapuram; NIT-Kozhikode TBI, Kozhikode; StartUp Village, Kochi; Amritha TBI, Kollam; Central Institute for Fisheries Technology TBI, Kochi; NRI TBI at Kollam, Kochi and Kozhikode.

New TBIs under consideration are: proposed national centre for excellence in entrepreneurship to be jointly set up by the State Government and the Confederation if Indian Industry; Pushpagiri Medical TBI, Thiruvalla; and Care-Kerala ayurveda TBI at Chalakkudi, Thrissur.

>vinson.kurian@thehindu.co.in

Published on October 12, 2012
This article is closed for comments.
Please Email the Editor