IIT Roorkee launches bio-incubator for research, product development

Technology Innovation & Development of Entrepreneurship Support (TIDES) Bio-Incubator granted INR 3.92 crore fund for three years under government's Bio-NEST (Bio-Incubator Nurturing Entrepreneurial for Scaling Technologies) scheme. 

The Indian Institute of Technology (IIT) Roorkee has launched bio-incubator on its campus to provide assistance to students, researchers and entrepreneurs for conducting research and developing commercially viable products. 

The bio-incubator aims to encourage, incubate, and accelerate the life sciences, healthcare and biotechnology-based innovations for commercialisation as well as to support the researchers and entrepreneurs by providing necessary resources to transform their research works into viable commercial products.  

According to a statement released by IIT Roorkee, Technology Innovation & Development of Entrepreneurship Support (TIDES) Bio-Incubator has been granted a funding of INR 3.92 crore over a span of three years under Bio-NEST (Bio-Incubator Nurturing Entrepreneurial for Scaling Technologies) scheme of BIRAC (Biotechnology Industry Research Assistance Council), set up by Department of Biotechnology, Government of India. 

“The bio-incubator has spent about INR 2 crore in order to obtain world-class equipment and development of laboratories. The bio-incubator plans to spend further allotment of amount to create a wholesome environment to promote entrepreneurship. It will provide incubation to all deserving entrepreneurs in the region, in and around IIT Roorkee, with a focus on North Zone,” the statement said. 

Ajit K Chaturvedi, Director, IIT Roorkee, said, “Growth in healthcare and biotechnology area is imperative for our country’s progress. The bio-incubator will enable young entrepreneurs to freely explore and develop viable products and thus give wings to their start-ups and thereby also fuel India’s growth.”  

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