Incubation centres in engineering colleges, proposed by the government and accepted by 75 colleges, will be a blessing for start up IT companies, colleges suffering with under-utilisation of their facilities and students searching for live projects.
The Business Incubation Centres will help small companies to utilise the laboratory facilities, free Internet, computers and the space in engineering colleges for a small fee and in turn companies will provide live projects to the students, and also involve the faculty in their business projects.
“We have sent the proposals and 75 colleges have positively responded so far. We are in the process of reaching the companies now,” Amarnath Reddy Atmakuri, CEO, A.P. Society for Knowledge Networks told
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Officials say small IT and ITES companies and Research and Development centres have to cope with high rents and poor infrastructure can use the existing facilities in colleges. Such facilities are under-utilised in colleges due to low enrolment and also left free after college hours.
Colleges that have come forward to implement the proposals will also get host of incentives from the government, including 25 per cent subsidy on power bills for a period of three years or Rs.30 lakh, whichever is earlier from the date of commencement of commercial operations.
The government will also provide recruitment assistance of Rs.2.5 lakh for recruitment of 50 local students in these labs and also reimburse 50 per cent exhibition subsidy if the labs and students participate in the national and international exhibitions with their products.
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Officials say colleges that have invested hugely on infrastructure but have failed to attract sufficient number of students can establish these centres and make optimal use of facilities. It will also be advantageous to companies that fail to take off due to high costs of establishment and recurring expenditure.