Technopark TBI, an incubation centre, helps small technology firms make a start.
Proving to be a cradle for new technology ventures, the Thiruvananthapuram Technopark is turning out to be instrumental in nurturing a handful of small and medium start-up ventures in the information technology (IT) and Information technology-enabled space (ITeS) space.
KC Chandrasekharan Nair, CFO, and Programme Manager — New Initiatives, Technopark, Thiruvananthapuram, said the Technopark — Technology Business Incubator (T-TBI) has been successful in nurturing a number of innovators, evolving them into successful global organisations.
Enabling features of T-TBI include world class ‘plug and play’ infrastructure at down-to-earth rates, assistance in company formation and compliance with legal formalities, guidance in preparation of business plans and techno-commercial feasibility analysis by experts from multi-disciplinary areas, expert guidance and mentoring to the incubatees on various facets of business developments and also tying up finances, including seed capital and venture capital funds.
Nair said the establishment of T-TBI a few years ago, has enabled Technopark to admit technology development companies to the incubation programme. The start-ups, mostly student ventures, are doing extremely well and a handful of them have even begun eyeing higher goals at the global level. The T-TBI, a joint venture of Technopark and the Department of Science and Technology under the Central government, had been incorporated to incubate the technology ideas, innovation and genuine entrepreneurial talents of first generation entrepreneurs. “T-TBI has been giving admission to technology development and product-based companies to become successful business enterprises,” Nair added.
The Technopark Business Incubation Centre (TBIC), another initiative set up with the help of the Kerala government, has been institutionalised for incubating business ventures, which are spinning out of the campus from within and outside the country. “The incubator offers a congenial environment for an enterprise to grow in their start-up phase so as to become successful entrepreneurs. T-BIC provides ready to move in, plug and play facilities for start-up companies,” he added.
Operational support services such as security, reception service, telephone operator service and photo copying are offered by Technopark as part of the package. In addition, necessary business support services, including business consulting, mentoring and advisory services, right from the stage of company formation, are also provided. This enables the entrepreneur to build up the enterprise at the required international standards, he said.
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Among various measures intended at promoting IT start-ups, the Technopark also has a variety of set ups such as Virtual Incubation and TBI Extension Centres, Pre-Incubation facilities, a T-TBI Lab and Entrepreneurship Development Cells (EDC).
The T-TBI in fact acts as a Regional TBI. The organisation offers help to engineering colleges and B-schools in the state in setting up Entrepreneurship Development Cells (EDCs) in their campuses. The EDCs formed in the accredited institutions will get funding support from the department of science and technology which is channeled through T-TBI.
The virtual incubation concept allows student start-ups to operate outside the college premises. However, they may not get the service of EDC. This is done with the active support of the Engineering Colleges and the operating company becomes the ‘Virtual Incubatee’ of T-TBI.
If the new start up begins operations from within the EDC itself then it will become the Extension Centre of T-TBI (TTBI-EC). The infrastructure and R&D facilities for this are offered by the respective education institution or the ED Cell and other support facilities offered by the T-TBI, he added.
Pre-incubation facilities are offered to entrepreneurs as well as students wishing to launch their technology ventures through the T-TBI. Necessary training for the preparation of business plans, and designing of innovative ideas are provided to them in the pre-incubation stage. The period of pre-incubation is maximum of six months, after which, they shall be evaluated by the expert committee for getting admitted into the incubation space, Nair added.
Meanwhile, T-TBI offers laboratory facility to the start-ups and tenant companies for the R&D, engineering and product testing and development activities. The laboratory provides the electronic equipment and gadgets essential for a technology start up. The lab is promoted by the central government’s department of science and technology. A slew of companies such as Torque, Artin Dynamics, Light Logics Holography and Optics, SooryaKiran BioInformatics, Divx Medical and Software Technologies, Innoz Technologies and more have already taken flight from the T-TBI cradle.