Technology Business Incubation

The Institute is committed to develop a novel framework for sustainable business ecosystem to promote innovation and nurture entrepreneurship. To impart impetus to innovation eco system, the Institute has established “RCOEM Technology Business Incubators Foundation”, a section 8 company in Dec 2016. The institute has established “Center for Invention, Innovation, Incubation & Training (CIIIT)” in 2019 ; estimated cost Rs. 23.50 Cr with Tata Technologies for promoting technology based startups. The center provides tools ,technology and services support for Design and Engineering, Virtual Verification and Analysis and Product Lifecycle Management.

The Institute is also selected as a host institute for implementing ministry of MSME, GoI schemes:

• i. MSME HI/BI Scheme:
• ii. ASPIRE : “A Scheme Promoting Innovation, Rural Industry & Entrepreneurship”, Received funding of Rs. 39.25 Lakhs and created “RCOEM MSME ASPIRE Innovation and Product Design Centre” with Multi equipment Calibrator,3D Printer, Rapid PCB prototyping , 6.5 Digit DMM, arbitrary waveform function generator, Spectrum analyzer for Product Design, Development and Testing in Electrical & Electronics Product Design and Testing.

Objectives:

• To build a strong eco-system for nurturing innovation and Startups in the region that will drive sustainable economic growth and employment
• New Venture Creation: To inculcate entrepreneurship and new venture creation based on innovative technology.
• Technology Commercialization: to provide a platform for speedy Commercialization of technologies developed in the host institution or industry and R&D institution of the country.
• Interfacing and Networking: to provide networking between academia, industry and financial institution.
• Value Addition: to provide value added services viz. legal, financial, technical, IPR, etc. to incubate.

RCOEM TBI Incubation Support

Physical infrastructure:

• Fully furnished Office Space
• Shared resources: Meeting rooms, Conference rooms
• Office productivity equipment: Fax, Photocopier, Shredder, Scanner, Projector
• Access to Innovation and Design Center and RCOEM Labs Equipment and software tools

Funding Support:

• Preincubation Phase: Rs. 3.00 lakhs
• Incubation Phase : As per requirement
• Facilitation for Government funding programs (*Subject to eligibility and selection process.)

MSME HI/BI :

• “Support for Entrepreneurial and Managerial Development of SMEs through Incubators”.
• Max Support : Rs. 6.5 lakh.
• Sector: Manufacturing and Process Industries

ASPIRE :

• A Scheme Promoting Innovation, Rural Industry & Entrepreneurship
• Sector: Agriculture and allied
• Max.Support : Rs. 4.0 lakh.

Advisory and coaching:

• Mentoring
• Trainings and workshops
• Free advisory from Experts- legal, CA, IP,CS.

Network:

• Facilitation for business, professionals and expert network
• Facilitation for investors network
• Showcasing opportunities

Ecosystem advantage:

• Experiential learnings in incubator
• RCOEM ecosystem- technical resources and interactions, students, library
• Media visibility
• Address for incorporation
• RCOEM -TBI Foundation