IIT Delhi to set up three research parks
One on campus; two in Haryana
New Delhi, May 7 Indian Institute of Technology Delhi (IIT-D) is setting up three research parks to facilitate design and development of advanced technology, incubate more start-ups and promote industry collaboration.Research parks will come up on IIT Delhi campus and in Sonepat and Jhajjar in Haryana. The parks are funded by the college and managed by the Foundation for Innovation and Technology Transfer (FITT).
FITT is one of the oldest technology innovation centres established in 1992. It launched the Technology Incubator Programme in 2000 to promote entrepreneurship, but it is only now that the institution is setting up research parks.
Knowledge transfer
Anil Wali, Managing Director, FITT, explained that while the organisation is old, the research parks are a response to growing demand not only from Delhi but also from the surrounding regions. The objective of the parks, Wali said, is to establish avenues of engagement with industry, transfer knowledge and create value.
The research parks will have research & development labs, set up by corporates jointly with IIT Delhi, incubators, Impact Lab for Path, a global health innovation hub, high-end central research facility and Centre of Excellence in Smart manufacturing. In addition, the research parks will have training centres and convention facilities.
Sonepat facility
The first phase of the Sonepat research park is completed and can incubate around 15 start-ups. It also has residential facility, which the start-ups can use for a fee. So far, four start-ups have been incubated. Around ₹175 crore has been invested in the first phase.
“We are planning the second phase that will be able to accommodate close to 100 start-ups,” Wali said. “We are waiting for environmental clearance for the one coming up at IIT Delhi, which should come any time now,” he said. Once the approval is obtained, Wali said, the park will be operational in 18-24 months.
It can also house 100 start-ups and close to ₹140 crore has been invested. The proposed third research park at Jhajjar is likely to take time due to delay in land deals, he added.
Start-up incubation
FITT has so far incubated 82 start-ups and works with establishments such as the Department of Science and Technology, Biotechnology Industry Research Assistance Council (BIRAC) and Technology Development Board for funding and partnerships. In addition the organisation also protect, maintain and commercialise patents.
FITT has filed for 630 patents so far and around 5 per cent has been commercialised, generating a value of ₹2-3 crore.
Source | Business Line | 8th May 2018
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