Indian Institute of Technology (IIT), Bhubaneswar will now mentor entrepreneurs aspiring to come up with innovative start-ups and facilitate basic infrastructure on its campus.
The IIT-B has established a Start-up Center with the support of Rs 1.5 crore by Department of Science and Technology (DST) and Ministry of Human Resource and Development (MHRD).
“The institute will provide space as per the requirement of the entity, with facilities like internet, water and electricity, on nominal payment basis. Selections will be made by the institute out of the applied teams or members on the basis of the potentiality of the proposals,” R. V. Raja Kumar, Director of IIT-Bhubaneswar said.
Prof Raja Kumar said the enrolled start-ups could also avail the facilities of the institute like, workshop, laboratories, library and hostel (if available) on payment.
“The institute will provide mentoring support for the start-ups and a seed grant to the tune of Rs 2.50 lakh to the maximum of 10 start-ups per year,” he said, adding the Start-up centers will also facilitate bank loans to the start-ups.
The Director said he was hopeful of receiving a good response from graduating engineering students of the region including students of IIT Bhubaneswar as the institute is expected spearhead activity and generate new generation entrepreneurship in the region.
Courtesy: The Hindu