The incubation centre has assisted the start-ups in its mission to provide young people and aspiring entrepreneurs with a space to transform their original ideas into viable business concepts.
42 start-up businesses from the robotics, IT, water, oil, biotechnology, machine learning, internet of things , renewable energy, home automation, and logistics sectors have been nurtured by the Technology Incubation Centre of the Indian Institute of Technology, Guwahati.
The goal of the incubation centre is to foster advances in traditional knowledge, biodiversity, and science and technology. It also facilitates a platform for entrepreneurship, fosters the development of a research mindset for societal advancement, and serves as a bridge between academics, technologists, and business sectors.
All startup candidates are encouraged to apply to the incubation centre, which helps them develop their creative ideas into successful businesses. By connecting the candidates with a pool of professors who are authorities in their professions, funding organisations like Oil India Limited and Numaligarh Refinery Limited, among others, and other financial institutions like Indian Bank and YES bank, the centre would help the applicants.
The IIT Guwahati incubation centre has been approved and recognised by the Ministry of Micro, Small, and Medium Enterprises (MSME), Government of India. The Technology Development Board, a division of the Ministry of Science and Technology of the Indian government, has also been authorised to provide money to start-up businesses.