IIT Roorkee launches bio-incubator to encourage start-ups

NEW DELHI: Indian Institute of Technology (IIT) Roorkee has launched a bio-incubator at the Roorkee campus to provide start-ups in biotechnology and allied fields with state-of-the-art labs and equipment.

Technology Innovation and Development of Entrepreneurship Support (TIDES) bio-incubator, IIT Roorkee is established under the Bio-NEST scheme of BIRAC, a not-for-profit public sector enterprise under the Department of Biotechnology (DBT).

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The biotech sector requires incubation support with landing space to test ideas and run operations. Access to instrumentation and proximity with other start-ups and mentors are also required.

The TIDES business incubator aims to encourage industry-academia partnership and incubation. It aims to provide funding support and incentives for start-ups. It is a not-for-profit public sector enterprise established by Technology Incubation and Entrepreneurship Development Society (TIEDS) and IIT Roorkee.

“A funding of Rs 3.92 crore has been sanctioned for this bio-incubator for a span of three years from a scheme of the DBT,” says the press release.

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The IIT Roorkee bio-incubator , spread across 6000 sq ft has multiple labs with much state-of-the-art equipment to help start-ups with their research and development.

The labs at the bio-incubator are:

• Media lab

• Tissue culture lab

• Biotech lab

• Independent wet lab

• Utilities lab

• Dry office space

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“The objective of setting up this bio-incubator is to encourage the life sciences, healthcare and biotechnology-based innovations for commercialization. It will also support the researchers and entrepreneurs with the required resources to transform their research works into a viable commercial product,” the statement says.

“A thriving healthcare and biotechnology area is important for India’s development. This bio-incubator will help young entrepreneurs in exploring, and developing viable products, resulting in the growth of Indian start-ups. This, in turn, will fuel India's growth”, said Ajit K Chaturvedi, director of IIT Roorkee.