Kerala's MG University to promote entrepreneurship; will turn 27 business ideas into industrial enterprises

The Business Innovation and Incubation Center (BIIC) at Mahatma Gandhi University, in Kottayam, Kerala, is set to serve as a hub for initiatives to turn 27 business ideas into commercial enterprises, which could be advantageous to society as a whole.

The goal of the research incubation programme being run by the BIIC with funding assistance from Kerala Startup Mission is to encourage entrepreneurship in researchers, teachers, scientists, post-graduate students and other individuals. The project intends to commercialise research results into goods, technology, and services that benefit society. In Thiruvananthapuram, the project was unveiled at the beginning of the month, stated a report by The New Indian Express. 

As many as 19 individuals were chosen for the programme out of the 153 applicants. In addition, the eight researchers chosen for the National Research Innovation Challenge 2022, hosted by the Kerala Startup Mission, will also be centred on BIIC. Additionally, they will receive a grant of Rs 1 crore designated for research incubation initiatives.

Life science, biotechnology, healthcare, medical device technology, water conservation, environment, climate change, nanotechnology, agriculture, fisheries, assistive technology, energy, value addition, waste management, business, tourism, artificial intelligence (AI), machine learning, engineering, and social and rural technology are just a few of the venture ideas that will be developed into industrial enterprises. Prof Sabu Thomas, the university's Vice-Chancellor, says that the programme is being carried out with the understanding that research is only effective when it serves society. The Central Travancore Chamber of Commerce and the BIIC, which is a member of the Confederation of Indian Industry (CII), have signed a contract, according to the Center's director EK Radhakrishnan as reported by The New Indian Express.