In a new move, IIT Delhi will soon be turning thesis papers submitted by PhD scholars into full-fledged startups that will be provided with seed capital, mentoring, accommodation and access to IIT-Delhi labs.
Centrally Funded Technical Schools and Institutions (CFTIs) have untapped potential in the form of research scholars. And the aim of Indian Institutes of Technology (IITs) is to use this potential to cumulate future entrepreneurs.
“It will be a platform to harness deep technologies from blockchain to artificial intelligence via young companies,” V Ramgopal Rao, Director of IIT-Delhi told Live Mint.
These incubation centres will aid researchers who are pursuing doctoral studies, by first shortlisting the candidates and providing them with a monthly compensation to encourage and kickstart their start-up journey.
This incubation centre is, however, not the first. IIT Madras started a program IITM Incubation Cell (IITMIC) in 2014 and had seen some good success. With over 142 successful start-ups from IITMIC, the incubation program is a way to tap into the potential of the youth.
A success story from IITMIC is about the start-up of Merkel Haptics. Formed in 2011, their products “Laparoscopy Surgical Simulator with Haptics Feedback” and “In-Vitro Fertilisation Training Simulation with Haptics Feedback” bagged a million dollar order from a Singapore-based company. The technology was using virtual patients in clinical training so that actual treatment would be safer.
B.K. Panigrahi, a Professor at the IIT-Delhi, told the publication, “IIT-Delhi will provide them with facilities and compensation for three years. Since deep technology subjects need expertise, it was natural to think about doctorate students.”
IIT-Delhi also said that they are setting up a separate incubation centre at Sonepat, Haryana, to nurture around 50 companies every year.
Initiatives like these would motivate scholars not just in pursuing their academic interests, but also in becoming creators of jobs and boosting the economy directly.
(Edited by Shruti Singhal)
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