National Institute of Technology (NIT), Trichy, is planning to start a new research park model to draw collaboration between the academia and the industry.
“We are planning to have a research hut model similar to the one in Birmingham in England,” said S Sundarrajan, director, NIT Trichy.
Explaining this, Sundarrajan said, the model would help develop facilities keeping in mind demand, instead of setting up a vertical building and waiting for the occupants. The institute is currently looking at incubating 10 new companies this year at its campus-located Centre for Entrepreneurship Development and Incubation (CEDI) facility.
NIT has around 400 acre space at its campus to develop these research huts. The proposal for development is currently being considered by the department of Science and Technology, and the institute expects the first research hut to start activities by March next year.
Around Rs 100 crore is being invested in the project, mainly for the purchase of equipment. NIT has inked a partnership with Sonata Software to support the institute’s incubation centre, and the entrepreneurship development activities.
The entrepreneurship centre, started three years ago, with a fund of Rs 1.75 crore from the central government, would receive Rs 1.2 crore funding from Sonata for the next three years beginning to aid technology business incubation.
“More than just funding, our management will mentor enterpreneurs in meeting challenges like taking their product to the market and getting them fund-ready,” said Srikar Reddy, CEO of Sonata Software.
He said the company was also open to acquiring potential tech startups. The centre has created four start ups, all in the technology space, including social media, video acceleration, eyecare system and fuel efficiency in automobile sector.
“There is still room for another 10 enterprises to incubate at the centre. We expect these firms would be able to move out from the centre after 18-24 months of operations,” said G Kannabiran, professor, department of Management Studies, NIT, Trichy.
With the establishment of research huts, the institute expects to stimulate research and entrepreneurship to higher level, said Sundarrajan.
