The Ministry of Human Resource Development has decided to set up an incubation fund for 100 institutions across the country. The fund would provide seed money for incubating ideas of students and faculties.
The Ministry will explore the possibility of funding for research on competitive basis for national priorities where Industries-Academia collaborates.
HRD Minister Dr M M Pallam Raju announcing key initiatives to promote industries- academia collaboration in the country said the ministry will set up an Incubation fund for 100 institutions.
Raju said that the ministry is lunching the National Employability Enhancement Mission (NEEM) through AICTE. The frame work will provide a vehicle for companies and entrepreneurs to provide employability skills and internship as value added proposition to student for all fields.
The ministry will set up an Academia- Industry Interface Council with representatives of Industry and Academia. The council will promote collaboration between the two and create and innovating culture.
For incubation funding, MHRD will indentify ten institutes with potential to have Research Parks at tier 1, 2 or 3 levels depending on the optimum size industry presence and current level of academia- Industry engagement in the institute.
Raju said that as in the case of IIT Madras Research Park, while the initial funding would come from government, the research park would be expected to raise resources from the market and generate its own revenues later on.