Indian Institute of Technology Guwahati Technology Incubation Centre (TIC) provides space for new entrepreneurs and young minds to transform innovative ideas into viable business propositions. The Centre provides technical support, business mentoring, and a soft loan facility (subject to availability)
The Centre’s goal is to encourage entrepreneurial initiatives amongst the students, faculty and alumni of IIT Guwahati and other individuals interested in entrepreneurship across the country, generate a vibrant business-oriented environment.
The Centre aims to promote advancement in science and technology, traditional knowledge and biodiversity resources, facilitate a platform for entrepreneurship and incubating research mindset for the development of society, and create an interface among researchers, technocrats, and industries.
Speaking about the role of IIT Guwahati Technology Incubation Centre in encouraging start-ups, Prof. T.G. Sitharam, Director, IIT Guwahati, said, “IIT Guwahati through the TIC has embarked on encouraging the students, faculty, staff and other entrepreneurs to provide necessary technological guidance and convert their ideas into products and technology that will be useful to the society and make the country Atmanirbhar”.
These incubated startups will work in different sectors such as robotics, information technology, water, oil sector, biotechnology, machine learning, Internet of Things, renewable energy, home automation, and logistics, among other sectors.
IIT Guwahati’s TIC is one of the Business Incubators approved and recognized by the Ministry of Micro, Small, and Medium Enterprises (MSME), Government of India. Grant assistance from The Technology Development Board, under the Ministry of Science and Technology, Government of India, has also been approved to support start-ups.
IIT Guwahati TIC is open to all sectors of incubatees/startups and supports them in converting their ideas into successful business ventures. It connects to a pool of experts in terms of faculties, funding agencies such as Oil India Limited (OIL) and Numaligarh Refinery Limited (NRL), among others, and other financial institutions like Indian Bank and YES bank.
Talking about IIT Guwahati Technology Incubation Centre, Prof. Vaibhav V. Goud, said, “IIT Guwahati TIC plays an active role in the North eastern region by serving as a focal point of interaction between venture capitalists, financial institutions, corporates, academicians, university students, and government members. This rich collection of stakeholders allows for an intensive exchange of ideas and enables the creation of quick and efficient solutions to problems that plague young minds.”
IIT Guwahati TIC ensures that incubates have access to technical assistance through mentors with multidisciplinary expertise. The Centre also focuses on the empowerment of women in terms of entrepreneurship; in this regard, it has partnered with NSRCEL-IIMBI for Women Startup Program (WSP). The Center has also partnered with Innovations for Defence Excellence (iDEX) in building the ecosystem for start-ups to interact with the Indian Defence establishment.
IIT Guwahati TIC, established in 2009, is the pioneering incubator in this Northeastern part of India, spread over approximately 4000 square meters of area within the Technology Complex of IIT Guwahati. IIT Guwahati TIC has adequate infrastructure for this endeavour. It encourages young enthusiasts with creative pursuits with an inherent zeal to be entrepreneurs to take advantage of this novel initiative.