B r i n g i n g   v a l u a b l e   i d e a s   t o   m a r k e t

O v e r v i e w

IITM Incubation Cell (IITMIC) is the umbrella body for nurturing and overseeing innovation and entrepreneurship at IIT Madras. With a rich tradition of incubation through bodies such as the RTBI, IIT Madras has also pioneered innovation with groups such as the E-cell, CFI, CSIE and the IITMEF (to read more). IITMIC will leverage these experiences and give entrepreneurship a stronger push as well as serve to coordinate and promote innovation-driven activities at the institute. 

IITMIC seeks to nurture technology and knowledge based ventures through their start-up phase by providing the necessary support to help entrepreneurs survive in the competitive market and reach a stage where they can scale-up their ventures further. The IC aims to build and share resources including space and infrastructure, access to business support services, mentoring, training programmes to enhance the skills of entrepreneurs and seed funds. The scope of support is broad-based, and covers technologies/IP developed wholly at the Institute or partly through collaborations elsewhere, as well as external start-ups with which IITM members are associated as consultants or mentors. IITM-IC is also particularly open to proposals with strong social and strategic impact 

IITMIC started operations at IITM Research Park, where, in addition to existing 35,000 sq. feet space allocated for incubation in Phase I, an additional 100,000 sq. feet is available for this purpose in RP’s Phase II building (operational since 2016). IITMIC is registered as a not-for-profit Section 25 Company, and recognized as a Technology Business Incubator (TBI) by NSTEDB, GOI. 

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O p e r a t i n g   M o d e l 

IITMIC is poised to straddle the academic community at IITM on one hand and the social and industrial bodies on the other, supported by the IITM Research Park and dedicated incubators. A Board of Directors consisting of faculty, administrators, representatives from IITM incubators and alumni guide and steer IITMIC activities.

At the operational level, IITMIC is primary responsible for nurturing new companies, as well as for identifying promising pre-company opportunities. In this process IITM resources including the extensive and very active alumni network play a major role. On the other hand, IITM’s Center for IC&SR is broadly responsible for technology transfer from IITM, whether by licensing of IP or taking the idea forward through to a commercial stage. IC&SR is also responsible for assessing, managing and initiating the commercialization process for IP developed at IITM.

Incubatee companies are expected from cutting edge research at the academic departments, venture activities of students and alumni, as well as the extensive industry network available with IC&SR. IITM’s currently active and incipient dedicated incubators such as RTBI and Bio-incubator will work with the incubatees to take technologies to the mature stage.