Dr. Mini Shaji Thomas,
Centre for Entrepreneurship Development and Incubation
Recognizing the importance of Technology Incubation, many institutions of higher learning have already taken initiatives to nurture this activity. These include policy measures, infrastructure support, entrepreneurial training, IPR facilitation, and create a framework to nurture technology incubation. NITT joins these institutes in establishing Centre for Entrepreneurship Development and Incubation.
Centre for Entrepreneurship Development and Incubation (CEDI), a Section 25 company registered under section 25 of companies Act 1956, located at 3rd floor of the Central Library, National Institute of Technology, Trichy is set up under the aegis of Ministry of Communication & Information Technology, Govt. of India to promote innovation and entrepreneurship by converting and translating technology ideas and innovation in various disciplines of science and engineering into products, processes and services for commercial exploitation and the benefit of society.
To accomplish its goal, CEDI runs and manages a Business Incubator (BI) at National Institute of Technology, Tiruchirappalli (NITT) to facilitate incubation of new enterprises with innovative technologies.
The centre will identify innovative entrepreneurs for funding through the TIDE scheme promoted by Department of Electronics and Information Technology, Govt. of India. All the necessary mentoring and support for mobilizing funds, creating access to markets, augmenting managerial skills etc., will be provided by the CEDI centre. CEDI will facilitate the incubatee companies to access NITT’s common Infrastructure facilities, departmental laboratories and other resources of NITT for their products development purposes
The centre also network with Angel Investors and Venture Capitalists who provide mentoring and financial support to the start-up companies and enable the tenant companies to mature over a period of 2-3 years and graduate to a commercial place to do the actual business. The involvement of the faculty of the institute in the technology start-up activity reinforces teaching and research, strengthens linkages between education and industry, and also better aligns education to meet market requirements. The centre has 6 incubation Cells for the Incubatee companies and Common infrastructure like Printer, Scanner, Fax Machine, Photocopier, PCs, conference room for conducting meetings, Library Facilities, etc.