Indian Institute of Information Technology and Management-Kerala (IIITM-K), situated at Technopark, has opened a Centre for Innovation and Technology Incubation (CITI) to encourage innovations of students and youngsters and to boost the culture of entrepreneurship.
IIITM-K students, new entrepreneurs and also industry-academia collaboration can make use of CITI. The core aim of the facility is to boost innovation and entrepreneurial culture by transforming ingenious ideas of the young minds in various fields in Science and Engineering to achieve excellence in research, processes, products and services.
Aeistir Technologies Ltd and Veuston Technologies Pvt Ltd are the 2 companies that have begun working at IIITM-K as part of CITI. E-commerce business is taken care by Veuston Technologies and hospital management sector is operated by Aeistir Technologies.
While inaugurating the facility, IIITM-K Director Rajasree M S anticipated that CITI will morph as the common platform of IIITM-K for all its entrepreneurial incubation enterprise. Young tycoons were urged to make use of the rich expertise and resources available in the institution to benefit themselves and to realise their business dreams.
The CITI centre came into existence under the leadership of Dr Elizabeth Sherly, Professor, IIITM-K. Dr Sherly pointed out that IIITM-K has been working on establishing incubation centres since 2000. " CITI has an ambitious development future with scope for expanded incubation facilities when IIITM-K moves to the new campus," she said.
Student Entrepreneurship Scheme, New Entrepreneurship Scheme and Industry-Academia Collaboration Scheme are the 3 schemes launched under CITI.
The Student Entrepreneurship Scheme aids start-up companies to perform pre-operative work and start product, research, technology and development by students. Current students can come up with frameworks of their entrepreneurial plan during their period of studies and earn grace marks.
New Entrepreneurship Scheme aids creation of an environment for interested people to initiate product, development and research with necessary infrastructure, support and mentoring.
The Industry-Academia Collaboration Scheme focuses on encouraging industry-academia linkage. It also enables industries to test, conduct research and carry out pilot projects to profit their business in a low cost manner.