The Indian Institute of Management, Trichy will have an innovation park and an incubation center come up at its premises. The director of IIM Trichy, Bhimraya Metri, made this announcement on 11th March 2019, Monday. It is said that this centre will help in promoting entrepreneurship.
The purpose of this centre will be to serve as the centre for developing start-up ecosystems while also looking after all the needs of the students and institutions in the surrounding region.
Bhimraya Metri further said that India is on the third rank in terms of startups, more thrust may be given to them by the Union government in the future by promoting institutions for encouraging startup ecosystems. This proposal is being worked upon while bearing in mind the future needs.
It is being said that IIM Trichy is talking about the funding aspect with the Niti Aayog and the Department of Science and Technology (DST), NAAC. Metri also informed that they will also be collaborating with the state government for acquiring 50 acres of land that is adjacent to IIM Trichy and is unused. They plan on planting trees on that land to make the campus more green. Apart from that, the acquisition will make IIM Trichy the biggest campus of IIM in India with a total area of 225 acres.
IIM Trichy was started in 2011 and it began its functioning at the reputed National Institute of Technology Trichy (NIT Trichy). Later on, it shifted to its permanent campus and has established itself separately. Metri gave examples of companies that had to shut down because they did not adapt to the changing technology and said that the cases of higher educational institutes are also similar.