Indian Institute of Technology Delhi (IIT Delhi)will become the first technology school in India to start a fellowship to help research students and PhD degree-holders to launch startups with products developed through their research findings.
IIT Delhi will give it’s students an option to start their own venture at a separate incubation centre launched by IIT Delhi . It will be a great boost to startup ecosystem in India and will help to grow their economy.
Currently about 2,500 students are studying PhD in centrally funded technical institutions (CFTIs) but hardly any opportunity available for them to start firms based on their research or thesis.
IIT Delhi director Prof. Ramgopal Rao said to media,
“We will give an opportunity to PhD students to launch start-ups by converting whatever they have learnt and discovered. They will get fellowship for three years to pursue their vision,”
Further he said that, they are going to setup new incubation centers in Haryana and Sonepat districts.
The university will select 20 candidates from each batch based on their research and allow them continue with their startup initiatives.
IIT director determined that If we can incubate 20 startups and two of them succeed, that will be a big achievement.