| This is the fourth such body set up in the state. the earlier ones were of the Indian Institute of Management - Ahmedabad (two) and the National Institute of Design. NirmaLabs has committed to invest a seed capital of up to Rs 20 lakh per project. |
| "NirmaLabs offers a three-staged programme that is designed to transform outstanding engineers into global techno entrepreneurs. The programme commences with a grooming phase during which the individuals will be groomed to identify and germinate an enterprising idea. This is facilitated through a broad based understanding of high-tech markets, emerging technologies and high growth businesses," said Madhu Mehta, chief architect, NirmaLabs. |
| The first phase (of eight months duration) will be followed by the incubation stage, wherein opportunities will be created to develop a value proposition and transform it into a fundable enterprise. The incubation phase will see intense interaction of the participants with mentors, torch-bearers and venture capitalists. |
| The final phase will focus on growth wherein NirmaLabs will provide opportunities for strategic networking, reality checks and exploring new horizons. |
| The programme is initially focusing on the information technology, communication and entertainment (ICE) sectors but will expand to include other sunshine areas like biotechnology and life sciences. |
| The first batch is expected to commence from mid June 2004. Currently road shows are planned in various cities across the country to promote the programme that is ideally suited for graduate engineers in the ICE sectors with two to three years experience or postgraduates with little or no experience. |
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