Aiming to support start-ups and promote innovation in IT, State university Indraprastha Institute of Information Technology, Delhi (IIITD), on Monday opened its incubation centre.
The centre will provide budding entrepreneurs essential services for a new start-up along with mentorship from academia, industry, venture capitalists and angel investors.
Pankaj Jalote, Director, IIITD, said, “The incubator will be sector agnostic and students will be free to come up with unique ideas that address technology-based solutions in IT, research and entrepreneurship.”
IIITD is in the process of setting up an evaluation process to select the right incubatee that will be a part of the 1-year programme.
The centre, which is on the university campus, was inaugurated by R. Chandrashekhar, president of NASSCOM, the industry association of software and service companies in India.
“New technology offers a great scope for India to solve persisting problems of education, healthcare, financial services and agriculture and for technology to reach its full potential, innovation is very important. Innovation will help bring scale and affordability to technology. An incubation centre is important to promote innovation and entrepreneurship,” Mr Chandrashekhar said.
Talking about the innovation trend in India, he said “we are likely to see a larger number of small successes, rather than smaller number of larger successes as is the case in the West.” The varsity is also in talks with the government to get funding to help develop the ecosystem.
