With the support of State Govt. of Bihar this IC will be a joint effort with DeitY Government of India. The State govt. will provide matching funds and its agencies like Bihar State Electronics Development Corporation Ltd. (BELTRON) will also collaborate.
The proposed incubator at IIT Patna will have programs designed to support the successful development of entrepreneurial companies through an array of industry support resources and services, developed and orchestrated by incubator management and offered both in the incubator and through its network of contacts.
Successful completion of a business incubation program increases the likelihood that a start-up company will stay in business for the long term. This Incubator would differ from research and technology parks in its dedication to start-up and early-stage companies. This is also an attempt to bring academia and industry closer to each other by providing students and faculty a platform to commercialize their research, final year projects and other technology based business ideas.
IIT Patna has sets up a business Incubation Centre (IC) to promote innovation and entrepreneurship. The aim is to identify, nurture and translate technology ideas and innovation in the broad area of Electronic System Design and Manufacturing with a focus in Medical Electronics which while serving the society will also be a stepping stone for the growth of entrepreneurship activities in this region. The IC will focus on developing products for commercial exploitation via the route of physical infrastructure, technical expertise and networking support to new enterprises with innovative technologies. The effort will also give an impetus to entrepreneurship among students, faculty and any external innovators interested in these areas.
Electronic components are ubiquitous in our day today life. Typical electronic systems that we use include mobile phone, laptop, washing machine, refrigerator, microwave oven, tablet, CD/DVD player, camera and many others. Other commercial, strategic and social applications include medical, surveillance system, control of avionics, traffic management, supply chain management, smart building, e-governance, smart grid, industrial control, and automation.
To ensure that we continue with growth trajectory, we need to develop indigenous technologies such that the common people are benefitted by products at affordable prices. Development of an electronic system broadly undergoes four phases, namely: design, analysis, validation, and manufacturing.