|KERALA TECHNOPARK'S BUSINESS INCUBATION PROVES HUGE SUCCESS
Technopark Technology Business Incubation (T-TBI) centre has proved huge success producing some 50 startup companies and generating an annual turnover of Rs1.5 billion and 3000 jobs.
“The companies that have already graduated from the TBI have scaled up their operation in Technopark Phase I campus and their contribution to the government exchequer is around Rs.300 million,” said KC Chandrasekharan Nair, its registrar.
The TBI on Monday signed an agreement with Technology Development Board (TDB) under the federal Ministry of Science and Technology for Rs10mn seed funding assistance from TDB for a period of three years. Technopark TBI has been selected for this Seed Capital Grant Assistance by TDB for the first time.
“This TDB seed support will enable these companies to grow further and contribute more to the economic development of the State in total,” Nair said after signing the agreement with TDB secretary H K Mittal.
The Grant will enable T-TBI to seed fund at least ten Incubation companies in Technopark Business Incubator in a year who lacks funding support from elsewhere/ from commercial Banks/ other financial institutions/ Venture Capitalists.
“This is a very important and necessary support for the student startups in the State to get startup risk capital assistance in their early stage of company formation,” said Mervin Alexander, chief executive officer of the Technopark.
Presently, there are 47 companies operating from the Business Incubator, of which seven companies are in the Innovation Lab, Kochi and 6 companies are virtually incubated in different Virtual Centres of Technopark TBI in Garden City College, Bangalore (2 startups), Mangalam College of Engineering, Ettumanoor, Kottayam, Mar Baselious College of Engineering, Trivandrum, Younus Kunju College of Engineering, Pallimukku, Kollam and Mary Matha College of Engineering & Technology, Kuttichal, Thiruvananthapuram.
The incubation center offers services of a panel of technical, management, accounting, legal, marketing, training and quality consultants. Entrepreneurs are provided with office space in the incubation centre to set up their research and development and business operations.
The centre also offers finished office space with air-conditioning, furniture, uninterrupted power supply, maintenance services, networking, reception and lobby area, discussion rooms, conference rooms, pantry area and common security.
Pre-incubation facilities, virtual Incubation, videoconferencing, seed capital assistance, embedded lab, mobile communication lab and project facility for students are also offered at the centre.