Toeing the lines of country’s premier institutes like IIMs and IITs, city-based Seer Akademi, has decided for incubation of projects in the core electronics sector.
This will be the first incubation centre in the state for development of electronics-related business ideas.
While incubation has been a relatively unexplored area for private institutes, it is increasingly developing into dual benefit tool with private players taking up incubation.
A few technoparks do have industry-supported incubation centres. However, academic institutes generally do not have one.
According to Prof Srikanth Jadcherla, chairman and CEO of Seer Akademi, “While institutes whose students receive funding from the Seer Akademi get exposure and experience in product development, it also provides ample exposure to professors to work as CTOs (Chief Technology Officer) and work on product ideas. This initiative provides a great opportunity to showcase their talent and open doors for additional placement opportunities.”
The programme will be open to electronics engineering students from across the state. However, preference will be given to those undergoing Seer Akademi training and who come up with product ideas.
Meanwhile, the incubation process is completely funded by the institute, which has a target of incubating 100 electronic companies in the next five years.
After a prototype is developed with help of micro-funding and grants, the academy would help connect them with venture capitalists. “Partnering universities across the country for product promotion and development is also being looked at,” said Jadcherla.
IIT-Kanpur has set up the SIDBI (Small Industries Development Bank of India) Innovation and Incubation Centre to foster innovation, research, and entrepreneurial activities in technology-based areas.
Entrepreneurship Development Institute of India and the Centre for Innovation, Incubation and Entrepreneurship under IIM-Ahmedabad are the key incubation centres in the country.
Even as both premier institutes provide funding for an array of sectors, this new initiative by the academy looks at a specific sector that has a major skill gap in electronic products and systems design.