As per reported by Mint, V. Ramgopal Rao, director of IIT Delhi said: “It will be a platform to harness deep technology from blockchain to artificial intelligence via young companies. The aim is to convert thesis to startups,”
Rao said, currently, some 25,000 researchers are pursuing doctoral studies at centrally funded technical schools (CFTIs). And IIT-Delhi will tap a portion of them and give them the option to start their own venture at a separate incubation centre.
Those shortlisted startups will be provided a monthly allowance “at par with the industry salary” to continue their startup journey along with seed fund, free mentoring, accommodation, and access to IIT-Delhi labs.
Besides, such candidates will be provided seed capital, free mentoring, accommodation, and access to IIT-Delhi labs. And the IIT will also help them connect with venture capital funds to raise money if they need any.
IIT-Delhi also said that they are setting up a separate incubation centre at Sonepat, Haryana to incubate around 50 companies every year.