On its campus, the CSIR-National Institute for Interdisciplinary Science Technology (CSIR-NIIST) has established a special innovation center to support, incubate and nurture technology-driven startups to help them create novel, commercially viable and market-ready products and solutions.
The facility envisions a broad ecosystem for the development and translation of technological and scientific knowledge into inventions.
Further, it aims to create a suitable ecosystem where these startups can transform inventions into business and technopreneurial endeavours.
It is anticipated to function as the nation’s premier innovation hub for knowledge-based entrepreneurship, translational research and incubation, and value generation in market-oriented company strategies.
In the presence of C. Anandharamakrishnan, Director of CSIR-NIIST, Krishna Ella, chairman and managing director of Bharat Biotech International Ltd. and chairman of the Research Council of CSIR-NIIST, officially opened the facility.
In an effort to support startups and early-stage businesses, NIIST claimed in a news release that the facility will address the need for strategic evaluation, protection, licensing, and transfer of technology.
On May 1, following the completion of the dedicated agreements with the chosen incubatees, Dr. C. Anandharamakrishnan, Director, CSIR-NIIST handed the co-working space possessions to the startups fostering a close collaboration and innovation within the CSIR-NIIST.
According to Dr. Anandharamakishnan, “The center seeks to provide handholding, mentor start-up companies, and nurture them to develop innovative products and find markets.” “By enabling collaborative co-working spaces for young entrepreneurs to incubate their ideas and receive access to thought-provoking scientific breakthroughs, thinking laboratories, and financing possibilities, it will be a one-stop shop for technology-driven innovations,” he continued.
The facility will boost the development of entrepreneurial endeavors at CSIR-NIIST, promote ideation, and assist the transfer from concepts to solutions that are ready for the market. It will offer a forum for communication between scientists, technocrats, entrepreneurs, and founders.
In addition, value-added services catered to the requirements of the incubatees will be offered, such as legal, financial, and intellectual property rights (IPR) advising services.
By utilising the shared use of CSIR-NIIST facilities to create resident and associate incubatees, the innovation hub would facilitate the growth of start-ups into viable business models.