The CSIR-National Institute for Interdisciplinary Science Technology (CSIR-NIIST) has set up a dedicated innovation centre on its campus here to incubate technology-driven start-ups and help them develop innovative and marketable products.
Krishna Ella, chairman and managing director, Bharat Biotech International Ltd. and chairman of Research Council of CSIR-NIIST, inaugurated the facility recently, in the presence of CSIR-NIIST director C. Anandharamakrishnan.
After executing the agreements with the selected incubatees, the keys for the co-working spaces for them were handed over by Dr. Anandharamakrishnan on May 1, marking the commencement of their collaboration with the institute.
The facility envisages an inclusive ecosystem to develop and translate scientific and technical knowledge into innovations and convert them into commercial and technopreneurial ventures. It is expected to serve as a leading innovation hub in the country for translational research and incubation, knowledge-based entrepreneurship, and value creation in market-oriented business strategies.
A pressnote issued by NIIST said the facility would cater to the demand for strategic evaluation, protection, licensing, and transfer of technologies in an attempt to nurture start-ups and early-stage companies.
“The centre seeks to provide handholding, mentor start-up companies, and nurture them to develop innovative products and find markets,” Dr. Anandharamakishnan said. “It will be a one-stop place for technology-driven innovations by facilitating collaborative co-working space for young entrepreneurs to incubate their ideas and get access to thought-provoking scientific inventions, thinking labs, and funding opportunities,” he added.
The facility will encourage ideation, support transition from concept to market-ready solutions, and contribute to the growth of entrepreneurial endeavours at CSIR-NIIST. It will provide a platform for interaction between entrepreneurs, founders, scientists, technologists, and technocrats. It will also provide value-added services, including those relating to intellectual property rights (IPR), legal, financial and technical advisory, tailored to the needs of the incubatees.
The innovation centre will enable start-ups to develop into sustainable business models by leveraging the shared use of CSIR-NIIST facilities to generate resident incubatees and associate incubatees.
