Technology Business Incubator
Amrita Technology Business Incubator (TBI) is an initiative of the Department of Science and Technology (DST), Government of India hosted by Amrita Vishwa Vidyapeetham. It works with the student community by helping students with an entrepreneurial spirit transform their innovative ideas into products, leading to the establishment of companies based on these ideas.
Since its inception in February 2008, the Amrita TBI has successfully incubated about eight companies. The main thrust areas of these companies are Information & Communication Technology and Electronics Instrumentation. TBI supported the entrepreneurs by evaluating their ideas, providing space and facilities for building prototypes, putting them in touch with sources of seed funding and helping to market their products. Assistance with brochure preparations, patenting and IP protection was also provided.
The Amrita TBI seeks to cater to the Indian business model of small businesses and helps technical people without business backgrounds to succeed. The National Science and Technology Entrepreneurship Development Board (NSTEDB), established by Government of India in 1982, is the main governmental agency that assists in setting up TBIs across the country. The broad objective is to promote gainful self-employment among the Science and Technology (S&T) manpower in the country as well as establish knowledge-based and innovation-driven enterprises.
Facilities
Amrita TBI is located in a 20,000 square feet building at the Amritapuri Campus of Amrita Vishwa Vidyapeetham, and is equipped with state-of-the-art computer and electronics labs, an e-learning studio with Tandberg equipment and accessories, an electronics soldering station and 24-hour, high-speed internet access.
Funding
Financial assistance is often available from the Government of India’s Ministry of Micro, Small and Medium Enterprises (MSME), which helps 90% of all businesses that fall into this category. In addition, because Amrita is a non-governmental social development organization recognized by the United Nations, the World Bank provides funding.
Funding Agencies are as follows:
MSME - Ministry of Micro Small and Medium Enterprises
TDB - Technology Development Board, Govt. of India
TeDP - Techno entrepreneurship Development Program
infoDev - A global development financing program among international development agencies, coordinated and served by an expert secretariat housed in the Global ICT Dept (GICT) of the World Bank
Administrative Support
Kailash Thangaraju, an experienced businessman, oversees all aspects of the TBI.
"We have a set procedure when an entrepreneur comes to us with a business idea," he states. "We make a business plan and present it to the TBI board. The board members, many of them faculty at Amrita, evaluate the merits of the plan. Once the plan is approved, an agreement is signed between TBI and the entrepreneur and guidance on setting up a company, partnership or proprietorship begins."
TBI assists not only Indian companies, but also companies launched abroad. As the Manager of Operations at TBI, Kailash guides the work of a 25-member team.
Incubators
Within the first year of operation, TBI incubated five innovative ideas leading to start-up companies. Currently, there are eight incubators in different stages of development; of these six are from within Amrita University. Click Here for more details.
Dr. Ravi Gauba launched Media Ripple in the USA. This product is a small box used in display units for advertising and information and will soon be available in India.
Educational Alert, another TBI supported venture, bridges the gap between parents and students by sending parents alerts regarding their children's schoolwork and grades.
TBI Student Activities
ACE (Amrita Creative Entrepreneurs) is a TBI sponsored student club that works extensively with students of Amrita University.
Business skill-development workshops are presented by eminent professionals from industry as well as academia.
BEWARE - A monthly student quiz competition on business, the economy and current affairs, updates students on market activities, trends and opportunities.
A student magazine on entrepreneurship is in the developing stages of publishing with plans to communicate Amrita TBI's activities and services within the student community as well as to other subscribers.
Innovation Week - is a proactive step to create a new generation of entrepreneurs. Its aim is to motivate budding enterprisers by providing them a space to start working with their ideas and dream projects. Students learn to channel technical and managerial skills by identifying problems and coming up with better solutions.
