Nirma Labs to groom global leaders

Recreates the 'Silicon Valley ecosystem' at Nirma University

In a bid to transform outstanding individuals into global techno entrepreneurs, Nirma Labs, a non-profit organisation of Nirma Education and Research Foundation (NERF), is recreating the 'Silicon Valley ecosystem' here at Nirma University in Ahmedabad.

Explaining the unique 'groom -incubate-grow' programme, Madhu Mehta, chief architect of Nirma Labs told Business Standard: "The Silicon Valley ecosystem has been a breeding ground for enterprising ideas. It provides the right stimuli, exposure, environment, opportunities and interactions that are instrumental in developing individuals who create capital. The habitat has successfully nurtured here in Nirma Labs also."

At present three incubated projects involving six people give boost to the Nirma Labs model. Projects prototypes on jewellery manufacturing automation, radio frequency identification and home automation are the projects to reduce the cost of present application and focused on energy conservation and convenience.

A sum of Rs 25 crore will has been set apart for funding all the projects. Besides Nirma Labs is providing a monthly sustenance allowance of Rs 8,000 to each project member.

The 'groom -incubate-grow' programme begins with identifying the right mind-individuals with technical knowledge, experience and business aptitude. The selected candidates go through a specially devised three-phase programme.

In the first phase the candidates go through a 30-week rigorous grooming exercise that is targeted to lead better ideas, stronger teams and more viable business plans.

These proposals then are evaluated by a panel of judges such as K S Dasgupta of Indian Space Research Organization (ISRO), H K Mittal of Department of Science and Technology (DST), Rakesh Basant of IIM-A and Chirag Patel of Net for Nuts.

"During the incubation the project, a team will evolve and develop its value proposition and transform it into a viable and fundable enterprise. The team will get an opportunity to interact with industry people besides getting angel funding and monthly sustenance," said Mehta.

The Department of Science and Technology has recognised Nirma Labs' incubator that was launched last year.

This is the only private incubator in the country that is given a grant of Rs 2.45 crore over the next four years. In addition Nirma Education and Research Foundation has also put an initial funding of Rs 5 crore.

At present the Nirma Labs team is conducting road shows across the country to promote the concept and encourage aspiring entrepreneurs to join the Nirma Labs.

"Till now over 2,000 people have visited the website. Around 250 candidates have registered their names and 50 of then have already applied to the programme," said Madhu Mehta.