The Technology Incubation Centre (TIC) of the Indian Institute of Technology Guwahati (IIT-G) has incubated 42 start-ups as of September 19. According to a statement shared by IIT-G, these start-ups work in different sectors, such as Robotics, IT, Biotechnology, Machine Learning, IoT, Renewable Energy, Home Automation, Logistics, Water and Oil sectors.

As per the statement, the TIC creates an entrepreneurial ecosystem on campus. It helps to transform innovative ideas of students, alumni and faculty into business propositions. The centre provides technical support, business mentoring and a soft loan facility, which is subject to availability. The centre connects a pool of experts in terms of faculties, funding agencies, such as Oil India Limited (OIL) and Numaligarh Refinery Limited (NRL), among others, and other financial institutions like Indian Bank and YES Bank, the statement mentions. It is open to all sectors of incubatees/start-ups.

The TIC at IIT-G is one of the Business Incubators approved and recognised by the Ministry of Micro, Small, and Medium Enterprises (MSME), Government of India. Grant assistance from the Technology Development Board, under the Ministry of Science and Technology, Government of India, has also been approved to support start-ups. "The centre aims to promote advancement in science and technology, traditional knowledge and biodiversity resources, facilitate a platform for entrepreneurship and incubating research mindset for the development of society, and create an interface among researchers, technocrats and industries," reads the issued statement.

Prof TG Sitharam, Director, IIT Guwahati, said, “IIT Guwahati, through the TIC, has embarked on encouraging the students, faculty, staff and other entrepreneurs to provide
necessary technological guidance and convert their ideas into products and technology that will be useful to the society and make the country Atmanirbhar.”