Bhubaneswar, October 13: IIT Bhubaneswar on Thursday received license and incorporation certificate from Registrar of Companies (RoC) to run the IIT Bhubaneswar Research and Entrepreneurship Park, a section-8 (not for profit) company.
In order to encourage entrepreneurial activities not only among its students and faculty members, but also in the hinterland of the institute, IIT Bhubaneswar started a technology incubation centre two years back and a startup centre with a space of 40,000 sqft, last year. The startup centre already attracted a large number of applicants and some of the selected ones have already started functioning from the Samantapuri campus of the Institute.
“We are happy to take the responsibility of promoting entrepreneurship and innovation not only in our state but also in the surrounding states. There are numerous colleges and universities offering various courses, such as engineering, science, and agriculture, to their students. Therefore, a rich pool of talent is available in and around IIT Bhubaneswar which needs to be guided for innovation, research, and entrepreneurship activities. To shape their innovation and promote their entrepreneurship interests, IIT Bhubaneswar Research and Entrepreneurship Park will act as a nodal center,” said IIT Director Prof R V Rajakumar.
IIT Bhubaneswar Research and Entrepreneurship Park will initially operate under the chairmanship of Prof R V Rajakumar. He will be assisted by Dean R&D IIT Bhubaneswar, Prof R K Panda and PIC Startup Centre IIT, Dr Ankush Sharma, as two other directors of the company.
The newly formed company will operate from the Samantapuri campus of IIT Bhubaneswar and will promote entrepreneurship, research, and startup activities. The section-8 company will also help IIT Bhubaneswar receive grants under various government schemes promoting entrepreneurship, research, and startup activities. “Eventually the park will operate from the permanent campus of the institute where already a 70 acres space has been earmarked for the purpose,” said Rajakumar.