IIT Madras Research Park Incubation Space in Phase II

IIT Madras Research Park Incubation Space in Phase II

Indian Institute of Technology, Madras (IITM) is one of India s leading technological institutions providing world-class educational and research programmes. IITM has been at the forefront of India s technology revolution and has developed a strong and sustainable relationship with the industry and society at large. IITM is home to India s first university driven Research Park (IITM Research Park (IITMRP), http://respark.iitm.ac.in), housing R&D and innovation wings of industry majors engaged in collaborative research, and technology transfer. This adds to career opportunities for IITM graduates. Figure 1 Total built up area of 1.2 million sq ft Phase I (0.4M sq ft): operational since Mar 2010. Fully occupied with 60+ companies Phase II (left image), nearing completion: 0.82M sq ft built up area, with 5 blocks catering to IT, Mechanical, Bio-sciences and Utilities sectors and multi-level parking Additional facilities: Alumni Industry Interaction Center, conference rooms and auditorium, recreational center, childcare, food court and restaurants. IITM Research Park is a pioneering effort in India to catalyze collaborative research between industry and academia to enable technological innovation & nurture entrepreneurship IITM also fosters an active entrepreneurial culture with the nodal overseeing body IITM Incubation Cell (www.incubation.iitm.ac.in) and several sector-specific incubators, including the Rural Technology and Business Incubator (www.rtbi.in), Bio-incubator, and MedTech incubator. All the incubators are located in IITMRP (Figure 3). Today, IITM is home to a thriving ecosystem comprising 100+ tech startups across domains, and founded by faculty, staff, students, alumni, and external partners. These ventures are pioneering solutions in advanced and emerging areas such as manufacturing, IoT, clean energy, water, biomedical devices/ healthcare, education, agri-tech and IT. Startups have graduated with infusion of capital from interested majors. There is also a strong social entrepreneurship base, with companies seeking to benefit rural communities through ICT innovations mediating microfinance, healthcare and access to information. (See Portfolio companies: www.incubation.iitm.ac.in/portfolio/all-startups)

Part funding opportunity with naming benefit Presence of Research Centres, Incubators and Startups make IITMRP an active ecosystem. Going forward, IITM envisages incubating at least 30 new companies every year, with 10% of them becoming blockbusters. In order to attain organic growth and emerge effective in supporting the entrepreneurial ecosystem, IITM s incubators are in need of strong financial and other support. While support from Government in sustaining this process is crucial, the role of the corporate sector cannot be overstated, and the Companies Act, 2013 provides an ideal route for the latter through the Corporate Social Responsibility (CSR) channel. IITM aims to promote its Incubators as Entrepreneurial hubs with private and corporate sector engagement. Funds will be utilized for creating facilities for rapid growth and sustenance of start-up ventures. "IITM has incubated 100 companies so far. Further the focus is on starting tech-companies, rather than just e-commerce companies. Not only students of IITM, but faculty and alumni are often taking lead in setting up the companies. Being the leading incubator in the nation, IITM is likely to contribute significantly to technology and product development in the country in years to come." Prof. Ashok Jhunjhunwala Faculty-in-charge, IITMRP & IITMIC IIT Madras Total project cost ` 20 crores ($ 3 mn) We invite the corporate sector to partner with us and contribute to IITM s startup vision for the nation through CSR. IITM s impeccable record, growth and global position will provide your company with unmatched potential for your CSR activities, with assured impact, value and visibility. Donors have the opportunity to sponsor slices of the project. Naming rights for ` 6.5 crores ($ 1 Mn) for each slice for the period of 5 years also available for the donors. Figure 3

Need for Expanded Incubation Space & Financial Support IITMRP Phase I (Figure 1) has been operational since March 2010 and is currently fully occupied, with a provision of 35,000 sq. ft. space dedicated for incubation of early-stage companies. This space is highly sought-after and has rapidly emerged as a congregation point for entrepreneurs and industry for building strong networks, business mentorship and support systems. With expanding entrepreneurial activity at IITM, the space within Phase I is becoming a limitation. There is now urgent need for additional space to support the growing number of new entrepreneurial ventures and activities. An additional 74,012 sq. ft. has therefore been earmarked for incubation in IITMRP s Phase II building (3rd Floor), which is nearing completion (see Figures 1 and 2). IITM/IITMIC seek support from the Corporate Sector to support the creation of this additional space. IITMRP estimates a requirement of ` 20 crore for this purpose. In particular, this proposal will focus on furnishing the internals on the Incubation Floor of the Phase II building, covering Blocks A, B and D, comprising a built-up area of 74,012 sq. ft. Corporate bodies providing strong support will have the right to have sections or wings named in honour of the contribution made. Figure 2

Illustration of Phase II building currently under construction. This highlights the Incubation Floor allocated primarily on the 3rd floor. Features: 74,012 sq. ft. spread over Blocks A, B and D Fully furnished leasable office modules ranging from 1000 to 3000 sq.ft. for startups Common electrical & mechanical workshops Common wet laboratory facilities for Biotech startups Lounge: ad-hoc meeting areas, including meeting rooms, seminar halls and breakout/ cafe A walkway connecting the 3rd floors of Phase II and Phase I buildings Entrepreneurial ecosystem at IITM Research Park, with IITM Incubation Cell as the nodal incubator Technology Startup Incubation ecosystem at IITM Research Park IITM Incubation Cell is the nodal body overseeing all entrepreneurship related activities arising out of IITM activities. Established in December 2013, IITMIC is registered as a non-profit Section 8 Company and recognized as Technology Business Incubator by NSTEDB, Dept. of Science and Technology, GoI. IITMIC and other sector-specific incubators are co-located in IITMRP, and actively collaborate at different levels. Upon admission, incubatee companies are offered shared office space and infrastructure (no rentals) and/or rented (subsidized) offices at IITMRP on a case-by-case assessment basis. In addition, a basket of support and services is extended to IITM startups across incubators: business support services (accounting, company secretary, legal and IP), mentorship (alumni/industry/faculty), networking, training programmes and access to seed and early stage venture funds. Bringing unlike minds together

Contact Details Prof. R. Nagarajan Department of Chemical Engineering, Dean, International & Alumni Relations, IIT Madras, 2nd Floor, IC & SR Building, IIT Madras Campus, Chennai 600036. Phone: +91 9444008390 E-mail: deaniar@iitm.ac.in Mr. M. Subramanian CEO, Development Office, IIT Madras Alumni Charitable Trust, 2nd Floor, IC & SR Building, IIT Madras Campus, Chennai 600036. Phone: +91 9840029370 E-mail: subramanian@alumni.iitm.ac.in For more details http://alumni.iitm.ac.in/wp-content/uploads/2016/05/incubationfloor_researchpark_pii.pdf