A laboratory with state-of-the-art equipment to build prototypes was inaugurated at Technology Business Incubator at Kongu Engineering College, Perundurai here on Friday.
Established at ₹1 crore with funding by National Science and Technology Entrepreneurship Development Board (NSTEDB) of the Department of Science and Technology, the facility was inaugurated by its head and advisor H.K. Mittal.
The National Initiative for Developing and Harnessing Innovation (NIDHI) – Promotion and Acceleration of Young and Aspiring Innovators and Start-ups (PRAYAS) programme is to support young innovators in turning their ideas into proof-of-concepts or prototype.
Under this programme, young innovators can avail themselves of a maximum of ₹10 lakh as grant for converting an innovative idea into a prototype within 18 months. The scheme can support 50 or more innovators over a period of five years. So far, 18 innovators have availed themselves of ₹1.45 crore grant under this scheme.
Mr. Mittal also launched six products developed in the TBI that catered to the needs of the industry and society. The products include ferrous particle impurity detection machine for gold jewellery, developed by C. Karthikeyan: semi-automatic airless paint sprayer by M. Pradeep; IoT-based smart battery water refill alarm device by D. Kalaiselvi, live and remote monitoring IoT Device by M. Puviyarasan; hyper UNO to maximise fuel efficiency in diesel vehicles by Shriram Thirumalai and iKey – high tech padlock by D. Kaushik.
Mr. Mittal complimented the young entrepreneurs for their innovative ideas and products and said that amazing innovations were coming out of incubators across the country, particularly Tamil Nadu and Gujarat that were leading from the front.
He also suggested that integrated functioning of all TBIs across the region would provide more avenues for knowledge sharing and would benefit aspiring entrepreneurs.
The TBI at the college, established with the support of Department of Science and Technology, has been functioning for the past 16 years. The TBI has incubated 76 entrepreneurs and 85 products have been launched, of which three products were being exported. It provides all forms of support, infrastructure, mentoring and financial assistance to develop products with cutting-edge technology.
A. Venkatachalam, Correspondent of the college, and experts from the industry and financial institutions were present at the opening of the laboratory.
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