The Technology Business Incubator (TBI) has been in active operation in the Institute since the year 2000. The TBI is conceived, programmed and implemented by the Foundation for Innovative and Technology Transfer (FITT) – Innovation, the Industry interface unit of the Institute. The objective of the TBIU is primarily to promote partnership with new technology entrepreneurs and start-up companies.
Within the existing policy guidelines of the Institute, the following categories of entrepreneurs are eligible for the incubation programme:
- An incubator nursery programme initiated by one or more members of academic staff, students or alumni of one of the Institute or a faculty-student led company.
- A start-up company formed by one or more first generation entrepreneurs.
- R&D division of existing Small & Medium Enterprises (SMEs).
The ventures addressing developed product/services, leveraging on technologies having homology in the Institute shall be incubated by start-up units-preferred for residency in the order listed above. The Standing Screening Committee in the Institute on pre-defined criteria appraises each incubation proposal and the business plan. Except the incubator nursery programmes where fund shortages during incubation progress are considered by the Committee to be met as loan/seed funding, other start-ups are expected to meet the fund requirements from own sources.
Permitted activities in the TBIU include product development, product innovations, software testing, simulation and prototyping, pilot experimentation, training and similar other technology related work, in which there exist homology with the Institute.