Industry research park to come up behind Tidal Park

The industry research park of 1.4 million sq ft conceived by the Indian Institute of Technology (IIT) Madras and the industry will be set up behind Tidel Park in Taramani. This will be the first of its nature to be promoted in the country.

Addressing mediapersons on the sidelines of a four-day symposium organised by the Indian Institute of Metals to celebrate National Metallurgist's day, M S Ananth, director, IIT, Madras said that the first phase of the research park of 4 lakh sq ft is expected to start operations by the end of 2006.

Ananth pointed out that it is essential and crucial for the industry to have an intense interaction on research with academia (professors and research students) to develop and evolve innovations relevant for the industry for which the research park is promoted.

The IIT alumni is expected to be the primary contributor of about Rs 10 crore. Other financial institutions and companies will fund the project as well for setting up of the industry research park. The space in the industry research park will be leased to companies who want to set up their research and development centres.

The focus areas of the research park will be information technology, telecommunications and biotechnology and will be expanded to others areas as well, he added.

He said the Tamil Nadu government granted 6.59 acres of land for the development of this project. The industry research park is situated behind the IIT campus which is expected to be connected through a fly over.