IIT Kharagpur is a strategic knowledge partner for an entrepreneur. It is a synergy of the various schools of engineering, sciences, management studies, intellectual property law, medical science and technology and information technology. Technology Business Incubation (TBI) has both student and faculty representatives from each of the above schools and thus creates a synergy of people, processes and technology. It imparts unique entrepreneurial knowledge and skills related to new enterprise creation and management to meet the trends and opportunities presented by the following:
- New technologies
- The growth of service industries and of small 'high tech' or information-based enterprises
- Re-structuring
- Increased competition
- 'Downsizing' and globalization
Today, IIT has unlocked its knowledge domains for undertaking sponsored research. TBI took it one-step forward to leverage knowledge based offerings with advanced delivery mechanism for today’s/ tommorrow’s entrepreneurs. TBI enables academia, industry, and government to work together to explore emerging interdisciplinary areas from the viewpoints of rapid innovation, creativity, and job creation, thereby establishing Indian leadership in emerging interdisciplinary areas.The Technology Business Incubation at IIT Kharagpur strives to demystify entrepreneurship by exposing students and interested general public to the issues faced by budding entrepreneurs and growing companies, and by providing a rich set of tools for addressing those challenges. The TBI emerges from an integrated expandable module combining existing IIT Entrepreneurship development societies such as Technology Incubation and Entrepreneurship Training Society (TIETS) which is Phase I Incubation for students, Science and Technology Entrepreneurs Park (STEP) which is Phase II Incubation for external and internal to IIT and Entrepreneurship Cell that is spearheading student enterprising activities as E-summit, B-Plan/Ideation/Case study contests, seminars etc along-with a variety of entrepreneurial government programs. This will focus on business innovation, knowledge management, education and research in entrepreneurship, business incubation, and provides access to quality entrepreneurial information resources.