DST allocated Rs 15 crore for university incubation centres

From 2016 onwards, this funding by the Department of Science and Technology is for next five years under National Initiative for Developing and Harnessing Innovations (NIDHI)

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New Delhi: The 15 Technology Business Incubators (TBI) have been approved by Human Resources and Development Ministry in collaboration with Department of Science and Technology (DST) in the year 2016. This is across various centrally funded technical institutions with 100 percent funding from DST. The DST has also supported 93 Technology Business Incubators and Science and Technology Entrepreneurs Parks in various universities/institutions.

This information was revealed by the Minister of State (HRD), Dr Mahendra Nath Pandey while answering a question recently in the Parliament.

The funding pattern followed by the DST including amount allocated between 2013 to 2016 was Rs 3-5 crore for a period of 5 years and for 2016-17, it was 10-15 crore for 5 years under National Initiative for Developing and Harnessing Innovations (NIDHI).

On an average 15 projects, each are under taken for physical incubation by these incubation centres with an incubation period of 2 to 3 years. During last three years, in the 93 Technology Business Incubators located in academic setups, 1395 projects have been under physical incubation.