IIT Hyderabad targets to generate Rs 200-cr research funding a year by 2024

Indian Institute of Technology Hyderabad (IITH) has set a target of generating Rs 200 crore per year for funding institute research by the year 2024 from the current level of Rs 50 crore. The institute aims to achieve this feat through the increased industry collaboration by enabling participation of 40 companies at its research park from the current five among other things. 

Unveiling the ' IITH's vision for 2024' on Thursday, director B S Murty said besides increasing the industry collaboration, the institute would also aim to increase the number of start-ups incubated to 50 from the present 20, would double the faculty strength to 400 and increase the student strength to 5,000 from the present 2,850 by the year 2024.

A research park and an incubation cell spanning 1.5 lakh square feet each are coming up and will be a major boost to start-ups and industry relations. The institute will also be launching a new department called the 'Department of Management and Entrepreneurship', which will focus on encouraging students to become job generators through entrepreneurial skills, according to Murty.