Basic HTML Version
VIT-Technology Business Incubator
Page 428
EVALUATIVE REPORT OF THE
TECHNOLOGY BUSINESS INCUBATOR
Notable achievements from 2009-10 to May’13
National Award:
VITTBI received the
‘National Award for TBI
’ for the year 2008.
Dr.G.Viswanathan, Chancellor received the award from the Minister of State for
Science and Technology, Mr.Prithiviraj Chavan during the 4
th
annual conference of
Indian Science Parks and Business Incubators Association (ISBA) in New Delhi on
8
th
February 2010. This award carried a trophy, a citation and a cash prize of Rs.1
Lakh.
Seed Fund Grant from NSTEDB, DST:
Based on our proposal, DST during the National Advisory Committee meeting held
on 19
th
March 2010 has sanctioned
Rs.2 Crores
as a Seed Fund grant to our TBI.
This will help our TBI to continue funding the new set of incubates and also will help
to attract more new ventures in the coming days.
TREMAP TCFA Centre at VITTBI:
VITTBI has been selected as one of the five 'Technology Commercialization
Facilitation Agencies (TCFA)' under TIFAC during 2010. This program envisages
supporting innovators to commercialize their technology through industry. This is
done by assisting in preparation of a Technology Refinement plan and a business
plan. If approved, the project might get funding up to Rs.10 Lakhs for refinement.
Under this program, VITTBI facilitated transfer of a technology developed by Mr.
Rajendran, a retired School Teacher to Gandhimathi Appliances Limited, a Chennai
based consumer durable manufacturing firm (Butterfly brand) on 10
th
of August’11.
The innovator is receiving Rs.7.5 Lakhs for assigning his IP to the company
MSME Supported Incubator Development initiative:
VITTBI was chosen for support under a MSME Incubator scheme. This project has a
total outlay of
Rs.75 Lakhs
and in all 12 incubates were recommended and
sanctioned support to the tune of Rs75 Lakhs. This scheme helped incubates to meet
their product development, testing, consulting, equipment hire and allied costs for a
period of one year.
UNIDO Program
VITTBI with VIT Business School successfully organized a 3 month ‘Youth
Entrepreneurship Skills Development Initiative’ for 24 participants from four Mano
River Union countries namely
Cote D’Ivoire, Guinea, Liberia and Sierra Leone
.
This was conducted from 17
th
January’12 to 14
th
April’12.The program helped the 17
entrepreneur participants to develop their business plans and 7 resource person
participants to develop a capacity building plan at the end of the training activity.
Incubation Support:
13 new projects were inducted for incubation and 15 projects graduated from
incubation during the period.
Rs.40 Lakhs
was sanctioned as seed fund (soft loan @
6% interest rate) during the period.