The National Science & Technology Entrepreneurship Development Board of the Department of Science & Technology (DST) has approved a biotech incubator at Anna University, Chennai as part of its ongoing programme on developing technology business incubators (TBI) for the development of start-up companies in high technology areas. The Board has decided to establish 20 TBIs during the 10th Five Year Plan in chosen IITs, IIMs, IISc, regional engineering colleges universities and engineering colleges of merit under private management.
The DST, which had announced its plans to set up five such TBIs during the current financial year, has also promoted an agri-biotech TBI in Pune. Noida, Hyderabad and Coimbatore are the other chosen centers for TBIs in the country.
All technology incubators coming up through the programme will be located at or near technical institutions and would be characterized by institutional links to knowledge sources including technology transfer agencies, research centers, national laboratories and skilled R&D personnel. TBIs promote technology transfer and diffusion while encouraging entrepreneurship among researchers and academicians.
A TBI is a managed workspace with low cost office facilities and business and professional services necessary for nurturing and supporting early stage of growth of technologies and technology based enterprises. The services may include modem communication and information services, and access to the R&D, testing, design and engineering etc., facilities and services. The objective is to cover some of the risks involved in the area of high technologies.
In addition to workspace, the services provided by incubators can include various forms of business planning and managerial advice, office facilities and accounting, access to business networks and legal services. TBIs essentially assume strong R&D and technological capabilities in academic institutions and R&D organizations, thereby associating R&D results with commercial potential and encouraging potential entrepreneurship in research scientists. Sources said that ensures the participation of potential techno-preneurs including researchers, who are willing to translate their ideas/high technology into products and services. Technology commercialization, economic development and entrepreneurship development are the three major objectives of the programme, they said.