The Cochin University of Science and Technology (Cusat) has proposed an Innovation Campus that will be a base for technology businesses to grow by leveraging the strengths of the varsity.
The three major components of the innovation campus are a research park, space for start-ups, and academic activities. A concept note on the proposed campus has recommended a 5-10 acre area with 1-2 lakh square feet buildings. Around ₹200 crore will be required to set up the campus, which will be run as a special purpose vehicle (SPV).
The proposal was placed before Minister for Higher Education R. Bindu during the inauguration of the RUSA Innovation and Startup Ecosystem on Thursday.
The note proposes the setting up of the innovation campus at Kinfra park at Kalamassery. Nearly 50% of the project cost has to be borne by the Government, while the rest will have to be raised through loans by the SPV. Operating expenses and debt servicing will be through internal revenue generated from the campus.
The research park will be home to companies to set up their own research and development space in association with the varsity. Companies associated with sectors like biotechnology, marine science, chemical engineering, shipping, electronics, and Information Technology will be invited to set up space in the park.
The start-up space will accelerate the successful development of entrepreneurial companies in various domains through an array of support resources and services. The start-ups will be permitted to use the varsity facilities for clinical and field trials and technology for prototype development. Faculty members will extend their expertise to the start-ups, while students could be recruited as interns and part-time employees.
The academic block on the innovation campus will offer new-generation programmes designed and executed in collaboration with industry partners. The focus will be on postgraduate programmes in select areas. Students will get an opportunity to work on real-time projects with the partnering companies.
