Department of Information Technology

IIT Kharagpur is one of the premier institutes of India which has encouraged quality education as well as entrepreneurship by the output of world class students and student innovators in various fields. IIT KGP started an infrastructure for innovators when it was supported by resources in the form of funds for the upcoming technology based entrepreneurs from Department of Information Technology in the year 2006-07. A society was formed to sustain the working for the entrepreneurs, who would utilize this infrastructure. The board of the governors was appointed to regulate these entrepreneurial works at IIT KGP. The board of governors has the responsibility to frame various policies for the proper functioning of entrepreneurial wing of IIT KGP. The initial board meeting was convened for structuring the rules for the selection process for the innovators, the mentoring process and the monitoring processes. This led to an onset of a very brilliant phase for the students of IIT Kharagpur and the innovators who would like to become entrepreneurs. After the meeting, a number of applications were invited and the screening of the applicants began based on the selection rules which emphasized on the patented innovations of the product and processes. Based on these many companies were selected for providing the funds from DIT support.
 
In the year 2007-08 these accepted companies were formed into private limited companies. The memorandum of understanding (MOU) between Sponsored Research & Industrial Consultancy and the company was signed. These companies were provided the loan amount for starting their activities for their products after signing the loan agreements. Based on the rules framed by the governing body these companies are kept in constant monitoring by submission of their timely progress reports on technical, financial and the roadmaps.

Now for the year 2008-09, there are many companies which can be accepted and formed into private limited companies. They have quality innovations. But it is widely felt that there is a necessity for more funds to patronage such quality innovations. As the technology advances the requirement for high quality goods increases in the market. The innovation is at its highest peak in this century. Every learned scholar tries to create some innovative product but due to the lack of funds they retreat back to form companies as well as fulfill their dreams. The TIDE centre will support such companies and build the entreprenurial sector very greatly, in the high technology concentrated world.

The development of quality innovation approach based on standards and benchmarks shall be the most striving feature of the TIDE centre at IIT KGP. The quality of innovation will be gauged accurately and fairly to support the research based innovations on high technology. High technology development in the state is dominated by various parameters which need a lot of resources in the form of machines and equipments. These can be procured by these startup companies only when they have proper funds for such resources for an excellent output. We propose such outputs at our proposed Technology Incubation & Development of Entrepreneurs (TIDE) centre at IIT Kharagpur.
We already have 13 companies in our incubation. We want to increase this number to a higher value in next two years so that the innovation does not take a back seat. These companies who have products and processes show a positive interest that can be developed further into a state of commitment which shall be achieved only when the Government supports them through its support for formation of TIDE centre at IIT KGP.

Department of Science & Technology (DST)

TBI (Technology Business Incubation)

DST has approved TBI last December, with the EFC being completed in February, 07 for 4 Crores. NSTEDB has acknowledged some delays due to staffing situation but will release half of the funding in this fiscal year. This will be the apex body for the practice part of our Entrepreneurship Programs.

Department for Scientific and Industrial Research (DSIR)
 
TePP(Innovation Funding program of DSIR and TIFAC, Govt. of India) under the guidance of Prof.Dhrubes Biswas as coordinator has been able to motivate a lot of grass-root innovators into getting their ideas into practice. TePP supports marginal as well as matured Innovators, who would otherwise have no chance of seeing success, had the Government not come up to there assistance. With the rapid progress made by the TePP outreach center at Kharagpur, the amount being made available by DSIR has been raised to Rs 15 lacs for XI th Plan. 3 projects have already been given the go ahead for receiving the TePP funding and many other proposals are in the process of submission. Similarly DSIR has supported us to conduct 3 IAC in the eastern region of India which includes Orissa, West Bengal and North Bengal .