First Green Tech Based Incubation Centre Of India To Come Up At NIT Srinagar

(MENAFN- KNN India) First green tech based incubation centre of India to come up at NIT Srinagar

Srinagar, Oct 4 (KNN) India's first technology business incubation centre based on green technology named“Greenovator Incubation Foundation” is coming up at National Institute of Technology (NIT) Srinagar.

Technology Business Incubation or Inclusive TBI (i-TBI) is a three-year initiative supported by the Department of Science and Technology (DST) for educational institutions, idea-generators, innovators and entrepreneurs to support the innovative ideas, startup initiatives and promote self-employment and job creation through incubation.

The Department of science and technology will be responsible for providing all the necessary funds for setting up the centre. The co-working space would be provided to startups for incubation facility, prototyping laboratory, meeting rooms, recreational facilities etc. Apart from office space, financial assistance as seed money would be given on a case-to-case basis with equity, as per the DST guidelines.

Speaking about the upcoming centre, CEO of the center, Saad Parvez said,“This would be the first of its kind technological innovation centre in the region which would boost innovations leading to entrepreneurship and self-employment.”

“The students, innovators and entrepreneurs will take up innovative ideas and projects and with mentoring support from the academia, try to build their startups. The motive of the centre is to enable and build a network between academia, investors, mentors, industries and other institutions,” he said.

Parvez further added that this would be India's first incubation centre based on green technologies. Other than the softer aspects of GreenTech going with the theme of valley, the proposed incubator would address some of the challenges that could not only change the socio-economic status of the valley, but also lead to innovations that could be utilised in other markets increasing chances of inter-state trade and commerce.

Key areas that will be under focus at the centre include AgriTech, EnviroTech and AlterTech. (KNN Bureau)


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