An incubation centre to address the diverse needs of start-ups and entrepreneurs has been established at the GSSS Institute of Engineering and Technology for Women (GSSSIETW) in the city, according to a release.
The incubation centre has been funded by the Department of Science and Technology and apart from meeting the needs of startups and entrepreneurs, it will provide them with support, resources and opportunities they need to succeed.
The rationale for establishing such a centre is to nurture a thriving ecosystem of innovation and entrepreneurship and the realisation that the incubation center can contribute significantly to the economic growth and development of the city, the release added.
It said DST recommended a grant of ₹3.75 crores for the incubation centre and GSSS Management has pitched in with ₹75 lakh and will be accommodated in an area of 9,000 square ft. dedicated for this purpose with a vision to promote 30 startups at full capacity.
The DST-Inclusive Technology Business Incubator (i-TBI) will house state-of-the-art facilities with centralised facilities to cater to the needs of the incubates to work in the area of food, agro, and healthcare. ‘’A dedicated governing team comprising experts from industries in the recommended thrust areas, experts from leading incubation centres, financial experts, and investors will help mentor and lead the iTBI with qualitative support’’, the release added.
To provide higher inputs to the incubate start-ups, several capacity-building programmes will also be conducted, to provide expert inputs on enterprise management, digital marketing, financial management, IPR, design thinking, export marketing, taxation, efficiency orientation, etc. The institute shall provide pre-incubation support to those interested to build their start up at the institute campus.
S. Padmashree, Professor, Department of ECE, GSSSIETW is the principal investigator, and Sushma S.J. and Raviraj P. are the co-principal investigator for this project. For details, call 9972539652
GSSSIETW said self-employment allows individuals to create their job opportunities rather than relying on existing ones. Fostering self-employment and entrepreneurship in Mysuru is essential for creating employment opportunities, empowering individuals, harnessing local resources, fostering innovation, and driving economic growth and development, the release added.
By recognising the importance of entrepreneurship and implementing supportive policies and initiatives, Mysuru can unleash the potential of its people and build a prosperous and sustainable future, said the release.
