Keeping in line with the initiative that the GOI has taken up to boost the Indian startup scene, in a fresh line of events, the system is all set to fulfil its promise of setting up of seven new Research Parks modelled on the Research Park set up at IIT Madras. The Government said that the new Research Parks in institutes will be set up with an initial investment of about $15.4 Mn (INR 100 Cr) each.
These research parks would propel innovation through incubation and joint R&D efforts between academia and the industry. The proposed parks will be up at IIT Guwahati, IIT Hyderabad, IIT Kanpur, IIT Kharagpur, IISc Bangalore, IIT Gandhinagar, and IIT Delhi.
The IIT Madras Research Park has agreed to enable companies with a research focus to base themselves in the Park and leverage the academic expertise of IIT Madras. It leverages best practices from globally successful Research Parks such as Stanford, MIT, and Cambridge.
The centre at IIT Kharagpur is already under construction. The Research Park at IIT Gandhinagar is being set up by the DST which has sanctioned about $13.8 Mn (INR 90 Cr) and disbursed an initial instalment of about $6 Mn (INR 40 Cr). The remaining five are being set up by the Ministry of Human Resource Development (MHRD) and DST at IIT Guwahati, IIT Hyderabad, IIT Kanpur, IIT Delhi, and IISc Bangalore.