Indian Institute of Technology (IIT) Roorkee has launched a bio-incubator at the Roorkee campus to encourage start-ups in Biotechnology and allied fields with state-of-the-art labs and equipment.
The bio-incubator aims to provide assistance to the IIT Roorkee students, researchers and entrepreneurs to conduct research and develop commercially viable products.
Under the Bio-NEST scheme of BIRAC, a not-for-profit public sector enterprise under the Department of Biotechnology (DBT), the Technology Innovation and Development of Entrepreneurship Support (TIDES) bio-incubator, at IIT Roorkee is established.
The biotech sector requires incubation support with landing space to test ideas and run operations along with access to instrumentation and proximity with other start-ups and mentors.
The TIDES business incubator aims to promote industry-academia collaboration and incubation. It focuses on providing funding support and incentives for the emerging start-ups.
Technology Incubation and Entrepreneurship Development Society (TIDES) and IIT Roorkee have established the incubator as a not-for-profit public sector enterprise.
According to the press release, the Technology Innovation & Development of Entrepreneurship Support (TIDES) Bio-Incubator has been granted a funding of INR 3.92 crore over a span of 3 years under Bio-NEST scheme of BIRAC by the DBT.
Further, the IIT Roorkee Bio-incubator, is spread across 6000 sq ft, consisting of multiple labs with state-of-the-art equipment to assist and encourage start-ups with their research and development.
The following labs are available at the IIT Roorkee's bio-incubator,
- Media lab
- Tissue culture lab
- Biotech lab
- Dry office space
- Independent wet lab
- Utilities lab
As per the press statement, the motive of establishing the bio-incubator is to promote the life sciences, healthcare and biotechnology-based innovations for commercialization.
Ajit K Chaturvedi, Director, IIT Roorkee said that it's important to have a thriving healthcare and biotechnology field for India's development. With the help of the bio-incubator, it will be easy for the entrepreneurs to discover, develop viable products that will lead to the growth of Indian start-ups and fuel the country's growth.
Mr Azam Ali Khan, CEO, TIDES, IIT Roorkee, pointed out the importance of healthcare and life sciences start-ups and said that the current decade is widely renowned for start-ups in the field of healthcare and life sciences.
IIT Roorkee's bio incubation facility will majorly promote & support interdisciplinary research converging into commercially viable products for affordable healthcare solutions, Khan said.
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