Startups have now become the engines of modern global economic growth. Through innovation and risk-taking abilities, entrepreneurs have transformed our society. They have designed myriad products that satisfy our wants. These science and technology-based firms are passionate enough to turn every necessity into invention and discovery, promoting profitable business enterprises that contribute to sustainable growth. The major objective of a technology business incubator is not only to facilitate in the setting up of startups which are technology-based and knowledge-driven but also to nurture their growth by providing them with the necessary platform required for their growth and establishment as successful enterprises. Thus a technology business incubator ensures the development of innovation across the country as the need of the hour along with other outcomes like the creation of more jobs and wealth in the region and life made easier through technological advancements.
The successfully graduated startups thus become a part in contributing towards the STARTUP INDIA CAMPAIGN which was first set to go by the PRIME MINISTER OF INDIA with an aim of cultivating a startup culture so as to attain self-sustainability for India as a whole and help in the creation of more jobs, revitalization of neighbourhoods, commercialization of new technologies and strengthening of local and national economies. An incubator necessarily provides the breeding ground for the startups by providing with rental spaces, equipment and lab facilities, mentorships from subject matter experts, technology support services and financial assistance via various funding schemes so as to guide a startup company to climb up the ladder. At Technology Business Incubator, NITCalicut, we focus on building sustainable regional platforms for incubating technology-related businesses. We help in utilizing technology as a means for the economic development. The incubator accelerates the development of the entrepreneurial companies from ideas stage to independent self-sustaining successful businesses.
Concerning the role of entrepreneurship in stimulating economic growth, our incubators aid them by improving the survival and growth of experimental entrepreneurial units. TBI NITC performs a level playing role by acting as a focal point of interactions between seed funding governmental agencies, academicians, students, venture capitalists, industry and other government institutions. These potential stakeholders enable the startup companies by providing with solutions to the problems they come across their journey as startup businesses. Thus these stakeholders act as catalysts for the economic development of the region and thus the country as well.
Our goal is to nurture just began ventures into established businesses by applying good practices through systems of benchmarking and continuous learning. We encourage innovative ideas by means of mentoring, infrastructure and resources, which is essential for successful technology businesses.
Technology Business Incubator (TBI) at National Institute of Technology, Calicut(NITC) is a venture set up jointly by the Department of Science and Technology, Govt. of India and National Institute of Technology, Calicut in the year 2003-2004 to support the startup industries in IT and electronics field.
Along with Information technology (IT) and electronics industries, TBI also supports technology startups in various other sectors like software, rubber technology, biotechnology, nanotechnology, agriculture and renewable energy. The units incubated in the TBI generate employment opportunities for at least 300-350 people.TBI can claim 87% success if the sustenance of the incubated units is considered. TheTBI currently manages to incubate 15-17 companies at a time. TBI provides workspace with shared office facilities with an emphasis on business and professional services necessary for bringing up and supporting the early stage growth of technology and technology-based enterprises.
To be a Technology Business Incubator of international recognition
To develop entrepreneurs and provide business incubation to lead and use technology for the progress of the mankind and to be strategically adaptive to the technological advancement
- To contribute Regional Development through incubating knowledge-based startups into a sustainable business by providing specialized guidance, critical assistance, innovative financing and networking support within an affordable and well-equipped workspace.
- To assist the startups to identify and evaluate the technology know-how and generate high skilled employment.
- To encourage the entrepreneur to conduct the feasibility study, project appraisal, market research and economic survey.
- To help the startups in enhancing their technical and management skills.