The Technology Incubation Center (TIC) at the Indian Institute of Technology, Guwahati has supported 42 start-up companies that will operate in a multitude of sectors, including robotics, IT, the water and oil industries, biotechnology, machine learning, the internet of things (IoT), renewable energy, home automation, and logistics.
These start-ups have been backed by the incubation centre, which strives to give young people and aspiring entrepreneurs a place to develop their unique ideas into workable business plans.
The incubation center’s main goals are to improve traditional knowledge, biodiversity, and science and technology. It also provides a platform for entrepreneurship, fosters a research mindset for societal development, and serves as a bridge between academics, technologists, and industry.
The Government of India’s Ministry of Micro, Small, and Medium Enterprises (MSME) has authorised and acknowledged the incubation centre at IIT Guwahati. Start-ups may potentially receive grant aid from The Technology Development Board, which is a part of the Indian government’s Ministry of Science and Technology.
The incubation centre welcomes candidates from all areas of incubatees/startups and assists them in turning their concepts into profitable companies. By introducing the candidates to a network of faculties, funding organisations like Oil India Limited (OIL) and Numaligarh Refinery Limited (NRL), among others, and other financial institutions like Indian Bank and YES bank, the centre would assist the candidates.