First green tech incubation centre to come up at NIT Srinagar

The Department of Science and Technology will be provide all necessary funds for setting up the centre. The co-working space will be provided to startups for incubation facility, prototyping laboratory, meeting rooms, recreational facilities, etc.  

India’s first green technology incubation facility named Greenovator Incubation Foundation will soon be opened at  National Institute of Technology (NIT) Srinagar. 

Technology Business Incubation or Inclusive TBI (i-TBI) is a three-year duration initiative supported by the Department of Science and Technology (DST) for educational institutions, idea generators, innovators and entrepreneurs to support the innovative ideas, startup initiatives and promote self-employment and job creation through incubation.  

The built-up area for the centre has been identified at NIT Srinagar. DST will provide the necessary funds to establish the infrastructure of i-TBI. The co-working space will be provided to startups for incubation facility, prototyping laboratory, meeting rooms, recreational facilities, etc. Apart from office space, financial assistance as seed money will be given on a case-to-case basis with equity, as per the DST guidelines.  

Centre expected to start by end of 2023  

The CEO of the centre, Saad Parvez who is also the head of Innovation, Incubation and Entrepreneurship Development Centre (IIEDC) of NIT said, the centre is expected to start by the end of 2023. “This will be a first-of-its-kind technological innovation centre in the region which will boost innovations leading to entrepreneurship and self-employment,” he said. 

He further said the students, innovators and entrepreneurs will take up innovative ideas and projects and with mentoring support from the academia, try to build their startups. The motive of the centre is to enable and build a network between academia, investors, mentors, industries and other institutions. 

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