To encourage startups in the India’s northeast region, IIT Guwahati (IIT-G) has decided to throw open its state-of-the-art incubation centre to students from other educational institutions in the region.
With this, the ace tech institute in northeast region wants to encourage those who do not have the infrastructure to pursue innovative research and transform innovative ideas into real projects.
To select deserving candidates, the IITG-Technology Incubation Centre (IITG-TUC) will hold a contest called the ‘IITG-TIC Innovation Competition‘. The competition is open to all students who have a promising idea, and are students of the educational institutions of North Eastern region of India .
For the competition, IIT-G has already started receiving entries for the contest where students will be able to showcase their ideas in the field of agriculture, women’s empowerment and safety, handicraft, health, food processing and packaging, non-conventional energy, tourism and cottage industry.
Winners of the competition will get the opportunity to ‘incubate’ their ideas, develop and commercialize them. So far, IIT-Guwahati’s incubation centre has incubated only 7 companies out of it, as per its official website.
IIT-G spokesperson Labanu Konwar said the ultimate goal is to encourage entrepreneurship in the northeast by helping students with technology and financial assistance. Notably IITG-TIC also provides soft loan to its incubatee startups which is upto 80% of the project cost.