Indian Institute of Integrative Medicine, one of the constituents of Council of Scientific and Industrial Research (CSIR), has launched a Technology and Business Incubator (TBI), IIIM TBI, in Jammu.
IIIM TBI offers researchers and entrepreneurs the opportunity to develop their incipient processes, technologies and ideas into commercially viable ventures. It also intends to serve as a national facility for the manufacturing of herbal drugs as per global standards.
Currently, the incubation hub is inviting Letters of Intent (LoI) from entrepreneurs, researchers, new or established startups, among others for technology incubation support at the TBI. Notably, the hub has been built with support from the department of science and technology (DST).
The main thrust areas for the research are production, process optimisation, scale-up, downstream processing, purification and possible industrial applications and exploitation of various bioactive molecules, produced by microorganisms using fermentation, as an approach.
After preliminary consultations to check the feasibility of a concept for technology development, startups will enter an agreement with IIIM TBI for availing the services offered by the hub.
Further, after the selection of startups, the incubation hub will provide inhouse support in terms of collaborative research work along with TBI, infrastructure support and lab facilities, entrepreneurs training, future technological support, mentoring and troubleshooting solutions, among others.
Moreover, the IIIM TBI will also help startups in availing angel funding and seed capital investments from Ministry of Micro, Small and Medium Enterprises, DST, national science and technology entrepreneurship development board (NSTEDB), among others.
IIIM TBI is also expected to take care of the business networking part for these startups. The hub has partnered with FICCI and MSME to provide these networking opportunities to the startups. Additionally, The incubation hub will also acknowledge intellectual property rights (IPR) issues.
In 2019 Budget speech, Finance Minister Nirmala Sitharaman had indicated that the Scheme for Promotion of Innovation, Rural Industry and Entrepreneurship’ (ASPIRE), will be launching around 20 TBIs in the country by 2020 to develop 75K skilled entrepreneurs in agro-rural industry sectors.
In past, SR Group, in association with the Department of Science and Technology, launched a Technology and Business Incubator called SRiX in Warangal, Telangana.