IIT Bombay to establish entrepreneurship centre

Centre to focus on emerging technology areas like Nanotech and Biotech

Indian Institute of Technology (IIT) Bombay will establish an entrepreneurship centre in its premises, with funds received from Syntel co-founders Bharat Desai and Neerja Sethi, under the aegis of the Desai Sethi Family Foundation (DS Foundation).

The new centre, to be named Desai Sethi Centre for Entrepreneurship, will foster entrepreneurship and technology innovation through new programmes for education and research, multi disciplinary courses, research labs and partnerships.

Students will also receive mentorship from IIT Bombay faculty and guest faculty from global institutions.

"The entrepreneurship centre will enable IIT-B to become the hub of entrepreneurship in the region, similar to role played by the Stanford University in the Silicon Valley," said Prof. Devang V Khakhar, Director, IIT Bombay at the institute's entrepreneurship summit here today.

Khakhar said Desai donated $1 million for this centre. IIT Bombay already has an entrepreneurship cell for prospective entrepreneurs since 1998, with more than 40 successful startups.

"Entrepreneurship and innovation are critical for creating economic empowerment for a prosperous and peaceful world. IIT-B has always been a hotbed for innovative thinkers, and this entrepreneurship centre offers a new channel to convert breakthrough ideas into viable business ventures," said Desai, Syntel's Chairman and Co-founder.

This new entrepreneurship centre will focus on emerging technology areas like Nanotech and Biotech.

Prototyping activities will enable students to convert their innovative ideas into proofs of concept. The centre will be managed by an Advisory Board comprising faculty members, student representatives, industry professionals and two international experts on entrepreneurship nominated by the DS Foundation.